From adequate health care coverage to life insurance, having insurance as a resident of the United States is a hugely important aspect of protecting yourself financially as a citizen here. With a typical household income of just over seventy thousand dollars a year here in the United States, many people are able to live comfortably – but do not necessarily have the funds to put away money in the case of emergency. Because let’s face the facts – there are so many things that require our money, from the student loan payments that so many of us have to mortgage payments. Ensuring that you have health care coverage often becomes just another cost. And this is not even to discuss the daily costs of every day life, such as that of groceries, of gas for your car or cars, of school clothes and school supplies for you child or children, to even small purchases like buying cleaning supplies when you need them. This causes many adults to live paycheck to paycheck, even if they have decently paying jobs.
Because of all that was just discussed above, it can be difficult to put money aside for savings. In fact, the personal savings rate in the United States is, on average, only about five and a half percent with only just more than forty five percent of all adults in the United States – considerably less than half – starting and adding to a rainy day fund. For such people, the event of an emergency could be catastrophic, as more than half (around two thirds, to be exact) of all adults in the United States would unfortunately find themselves hard pressed to even come up with an additional one thousand dollars in the event of the emergency and likely on short notice. Unfortunately, this is very much related to the debt that many adults in the United States owe, a number that is, on average, around one hundred and thirty thousand dollars, with some people owing much more and few people lucky enough to owe considerably less. This debt is often accrued through student loans, which have quadrupled in the time span of just the last decade.
If you face a medical emergency, this debt could only become compounded. And here lies the grave importance of having good health care coverage. Good health care coverage is even important if you and your family are, on the whole, very healthy. This is because you can never truly predict what will happen to you, what injuries and illnesses will befall you. Aside from good health care coverage, you should have a good life insurance provider for the very same reasons. A good life insurance company can help you to develop a life insurance policy which, along with your existing good health care coverage, can help to ensure, at least in some small way, that your family will be well taken care of in the tragic event of your untimely death. And good health care coverage is likely to be able to keep your debt from continuing to grow through the addition of medical bills to it. Medical services are nothing if not exorbitantly expensive here in the United States, a single visit to the emergency room often costing above and beyond one thousand dollars, stark and astonishing in comparison to the medical rates of other countries in the developed world all around us.
Even if you are not provided with good health care coverage through your place of employment – as two thirds of all American adults are – and even if you can’t afford the cost of buying your own health care coverage, American programs such as medicare and health care can provide the health care that you and your family so very much need. These services are often provided for those who don’t have the means to seek out health care coverage in another way, and can serve as a stop gap while those people are able to find other means of paying for health care services and health care coverage in the United States, where it can be very expensive.
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