5 Reasons You’d Never Need Health Insurance

March 31st, 2009

Hard times have come down on everyone, and the economic picture doesn’t seem to be improving despite our new president’s best efforts. As a means of cutting expenses, you’ve decided you no longer need health insurance. After all, you’re young, healthy and active right? Wrong. Despite your seemingly healthy condition, there are multiple scenarios that could occur, leaving you laid up in a hospital bed with rapidly mounting medical costs. So unless you fit one of the descriptions below, you’re going to definitely wish you had signed on for health insurance before it was too late:

1. You won the lottery, and can afford to cover medical bills. Even if you did win the lottery, youd probably want to purchase health insurance anyways. It makes sense, and you could definitely afford the highest premium and best coverage. Why you may still consider health insurance: Why run the risk of paying more down the line, when you could pay a comparatively small amount up front? After all, you’re familiar with how paying a small amount could have a huge return.

2. You bet against the housing boom and actually made money. Like only a handful of hedge fund managers in 2006, you bet against the housing boom and made millions. Why you may still want health insurance: If you were smart enough to predict the risks associated with overleveraged mortgages, you certainly see the risks of living without health insurance.

3. You are Superman. Not a superman, but THE Superman. Clark Kent. Krypton. Lois Lane. You get the idea. Health insurance wouldn’t make sense in this case. You are only vulnerable to one thing, and medical care wouldn’t help with that anyways. Why you may still need health insurance: Since you don’t want to blow your cover, you’ll probably have to take a few sick days a year and visit a doctor under the Daily Planet’s health insurance policy just to seem normal.

4. You own a health insurance company. Assessing risk is your job. You made your fortune helping people insure themselves against medical bills that could cause financial ruin, so you surely see the benefit of insuring yourself. Why health insurance is definitely important: You’ve seen firsthand how it saved those who were in serious medical need, and how they could have been financially ruined if they didn’t have coverage.

5. You have a genetic mutation that renders you immune to diseases. As humanity evolves to combat disease, you are the first of your kind and are able to ward off illness in an instant. Fortunately, your mutation has also given you a higher level of intelligence, allowing you the foresight to understand the folly of living without health insurance. Why you definitely need health insurance: Just because you are germ free doesn’t mean you’re impervious to physical harm. It’s your duty to preserve yourself, for the sake of modern science.

Barring any of the above reasons, you should definitely seek health insurance coverage if you haven’t done so already. In all seriousness, by skipping out on health coverage and trying to save money that way, you are potentially setting yourself up for an even larger expense down the line when you are injured or become sick. You are better off opening a high yield savings account or investing in a CD. You wouldn’t drive without auto insurance, so don’t live without health insurance.