Turning 25 already? If yes, you might be wondering if you should buy a health insurance plan or wait until you're "old enough to need one." Well, surprise! It would be best if you had a health insurance plan, even at your current age.
You might not know it, but you might have been already insured. This is because you were included in your parent's family insurance plan. However, you are excluded from the plan when you turn 26. This leads to the ever-popular question: what is the right age to obtain health insurance plans?
We are pleased to see that you are asking this as early as possible because obtaining the right health plan and at the right time in the right manner can make a significant difference in your life. If you are looking to understand more about health insurance premium costs, the value of health plans, and how they can be beneficial in your life at the present moment, reach out to our team at the Thumann Agency today.
We understand the importance of understanding factors like sedentary lifestyle, the age group, the affordable care act, the necessary details involved in the plans, and how to deal with insurers correctly.
Our team also knows that you want to save your money and obtain quality coverage without spending a great deal on premiums. We will help you understand the savings, the overall cost via the premiums charged, and how insurers provide coverage.
Find out how we can help you with a wide variety of health insurance policy options today.
Let's take a look at the right age to purchase a health insurance policy and why it is best to start early.
Is 25 the Perfect Age to Buy Health Insurance?
There is no 'right age' when getting a health insurance plan. Life happens fast, and a lot can happen when you are young. There are so many health risks based on environmental and lifestyle factors.
Today, young people can get ill due to:
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Increase in pollution in the air, sea, and land
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Increased stress in work or school environments
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Lack of quality sleep and exercise
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Long working hours
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Unhealthy eating habits
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Global health issues such as COVID-19
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Hereditary factors
Due to these risk factors, life-threatening diseases have been on the rise. Cancer, diabetes, and obesity are becoming increasingly commonplace. These factors are common, but they can be complex as well.
Cardiovascular diseases now affect young adults too. You can conduct activities to avoid these diseases or minimize your chances of dealing with many forms of critical illness, but it also pays to be prepared against those that still come your way.
Remember that aspects such as medical inflation and increased medical expenses compounded with the generally lower quality of health today make it to where pursuing a health insurance quote is more critical than ever.
The more you pay attention to the general health state of the world today, the more benefits you will find in getting a reliable health insurance plan.
The Need for Health Insurance at an Early Age
Getting access to quality healthcare isn't the issue; the challenge lies in the rising cost of medical bills. Science has developed treatments for most of the diseases that affect humanity today. But these treatments come at a hefty price. In many cases, many people can't afford to visit the medical facilities with the required workforce, equipment, and medication to treat their diseases.
This might seem like a bleak approach, but it isn't. You can prevent plenty of issues by purchasing good health insurance coverage. With a reliable health insurance plan in place, you can save yourself and your loved ones the stress of worrying about how to handle medical bills.
Benefits of Getting a Health Insurance Plan at an Early Age
There are so many benefits associated with buying health insurance when you are still a young adult. Some of them are:
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Lower Premiums: Young people have a smaller chance of contracting lifestyle or non-communicable diseases. That is why they are offered low premiums. Claim rejections are also rare for young adults. Overall, you will be paying less if you purchase health insurance while still young.
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Waiting Period: Insurance Policies don't start working immediately when you purchase them. There is usually a waiting period of 30 to 90 days. You are responsible for treating specific ailments even in medical emergencies within that period. Younger people can endure these waiting periods as their chances of getting ill within this period is very low.
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Better Coverage: Because younger people have a lower risk of contracting chronic illnesses, health insurance companies offer them more add-on options than they would do for older adults. The chances for getting these extra add-ons drop as you advance in age, as increasing age also increases your health risks. Some health insurance products for young adults include OPD coverage and other procedures not covered in most comprehensive policies.
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Lower chances of rejection: if you buy an insurance plan between the ages of 25 and 30, there is almost no policy rejection. On the other hand, those who choose to buy a policy after they turn 40 can face a higher chance of insurance coverage rejection.
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Comprehensive coverage: All health insurance plans for young adults come with comprehensive coverage with full benefits. You can continue this comprehensive coverage while working and even after your retirement.
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Enjoy full benefits: Buying a health insurance plan in your 40s can decrease the benefits you enjoy, as most insurance companies do not cover many pre-existing conditions. This can increase your financial burden and defeat the purpose of the health policy.
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Financial planning: Buying a health insurance plan at a young age allows you to plan long-term. It enables you to manage your income and focus on other long-term investment options. You also get to compare and choose your preferred coverage options as virtually all coverage types are available for you to pick from.
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Tax benefit: Your health insurance premiums are deductible from your income under 80D of the Income Tax Act, 1961. Getting an insurance policy at a younger age allows you to enjoy tax benefits for a more extended period of your life.
If you are looking to learn more about how your medical history, health status, and other aspects play into health insurance policies offered by your prospective insurance company, reach out to our team at the Thumann Agency today.
Reach Out to the Thumann Agency Today For Your Health Insurance Needs
Health insurance is something everyone should have regardless of their age. It is essential to secure your present and future health. Buying early will allow you to plan well, enjoy comprehensive benefits and enjoy tax benefits.
To get started, you will research further about health insurance plans. You should only select one that offers the most extensive coverage. This will ensure your health security for a long time - perhaps forever.
At the Thumann Agency, we cherish being part of your inner circle and a trusted advisor. We treat each client individually and personally. Call us today at 972.991.9100 to get your free quote in minutes!