Turning 18 is a major milestone for many young adults. You officially become an adult, you can vote, you can legally buy cigarettes and lottery tickets, and you can join the military.

However, one thing that many 18-year-olds overlook is the importance of health insurance.

What Is Health Insurance?

Health insurance is a type of insurance that covers the cost of medical and surgical expenses. Health insurance can be purchased by an individual, or it can be provided by an employer.

The cost of coverage varies depending on the plan, but most plans require a premium, deductibles, and co-payments.

Why Do You Need Health Insurance?

There are many reasons why you need health insurance. Here are just a few:.

Medical emergencies can happen at any time, and the cost of medical bills can be astronomical. Health insurance can help cover the cost of these unexpected expenses.
Preventive care, such as annual check-ups, can help catch health issues before they become serious. Many health insurance plans cover the cost of preventive care.
Without health insurance, you may not be able to afford necessary medical treatments, which can lead to a decline in your overall health.
Having health insurance can give you peace of mind, knowing that you have coverage if something unexpected happens.

What Are Your Health Insurance Options?

There are several different types of health insurance to choose from, including:.

Private health insurance: This is health insurance that you purchase on your own, outside of an employer-sponsored plan. You can purchase individual coverage or family coverage.
Employer-sponsored health insurance: This is health insurance that is provided by your employer. Many employers offer health insurance as part of their benefits package.
Medicaid: This is a government-funded health insurance program that is available to people with low incomes. Eligibility varies by state.
Medicare: This is a government-funded health insurance program that is available to people age 65 and over, as well as people with certain disabilities.

How Can You Get Health Insurance?

If you are under the age of 26, you may be able to stay on your parents’ health insurance plan. This can be a good option if your parents have a good plan and are willing to cover the cost of your coverage.

If you are not eligible for your parents’ plan, or if you prefer to have your own coverage, you can purchase health insurance on your own.

There are many different insurance providers and plans to choose from, so it’s important to do your research and find a plan that fits your needs and budget.

If you are low-income, you may be eligible for Medicaid. Contact your state’s Medicaid office to find out if you qualify.

What Should You Look for in a Health Insurance Plan?

When choosing a health insurance plan, there are several factors to consider:.

Coverage: Make sure the plan covers the medical services you need.
Cost: Consider the cost of premiums, deductibles, and co-payments. Look for a plan that fits your budget.
Network: Make sure the plan’s network includes doctors and hospitals in your area.
Customer service: Look for a plan with good customer service ratings.

What Does Health Insurance Cover?

The exact coverage that a health insurance plan provides varies depending on the plan. However, most plans cover the following:.

Hospitalization
Emergency room services
Doctor visits
Prescription drugs
Laboratory tests
X-rays and other imaging tests
Preventive care (such as annual check-ups)
Mental health services
Physical therapy and rehabilitation

How Much Does Health Insurance Cost?

The cost of health insurance varies depending on the plan and the provider.

However, according to a report from the Kaiser Family Foundation, the average cost of health insurance for an adult under the age of 35 is $308 per month for an individual plan and $439 per month for a family plan.

It’s important to note that this is just an average, and the cost of individual plans can vary widely depending on the coverage and benefits included. Be sure to shop around and compare different plans before making a decision.

What Happens If You Don’t Have Health Insurance?

If you don’t have health insurance, you may be responsible for paying the full cost of any medical treatment you receive. This can be expensive and can lead to financial hardship.

Additionally, you may be subject to a penalty if you don’t have health insurance. The penalty for not having insurance was repealed in 2019, but some states still have penalties for uninsured individuals.

In Conclusion

As an 18-year-old, health insurance may not be at the forefront of your mind. However, it’s important to understand the benefits of having health insurance and to make sure that you have coverage.

Whether you stay on your parents’ plan or purchase your own coverage, having health insurance can protect you from the high cost of medical bills and give you peace of mind.