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Millennium and health insurance: increasing importance
Have you ever wondered if a health crisis will wipe out your dreams if you don't have a health insurance or health insurance plan? There are certainly advantages to being young. You are relieved of your main responsibilities, you are in the best of health, and what you can look forward to our dreams and aspirations. That's why you work hard, save and create the corpus. However, a medical emergency poses a major risk to this accumulated corpus if you do not have adequate health plans.
Because healthcare costs are very expensive, repaying them is a burden. Only 18 percent of people in urban areas and 14.1 percent in rural areas are covered by any health insurance system. Amazingly, many millennials know about it. They are aware of the rising costs of health care and, despite awareness, the penetration of health insurance in our country is still low. Insurance providers currently pay only 1.5-2 per cent of total healthcare spending in India. It's low when the younger generation stops investing in a health insurance plan at an early age. It is a battle between ignorance and neglect.
Here are some reasons why the health plan is ignored and a reality check emphasizes the importance of the health plan in all circumstances
The millennials believe they are immune to disease
Youth is definitely a wonderful time when your health is at its peak. Because the disease is an animal with poor health, you consider yourself immune to the risk of infection. Therefore, many believe that the health plan can be removed with the product.
Reality check
Have you considered any accidents? Accidents have become quite common and pose a serious life risk. If someone is in an accident and needs intensive treatment for a week, they will definitely put a gap in their pockets. As well as injuries, the disease has spread among millennia in modern times. Whether it is to blame for stress, junk food preferences, smoking or drinking, young people today are just as prone to disease as adults. To avoid the financial consequences of progressive illnesses and accidents, better remember your health insurance plan.
Increasing incomes are leading to increased spending on lifestyle and health services. Lifestyle diseases stay here and will be responsible for a larger hole in the pockets. Diseases such as heart disease, cancer, internal organs are poised to increase from standard diabetes or blood pressure.
The employer provides a group health plan. Why buy it?
With millions of years of employment in companies at an early age, the group health plan is wrapped in a CTC package. It includes them and their dependent family. If specified as part of working conditions, an independent health plan will be misled.
Reality Check
Your group health plan is valid as long as you stay in your current employer's job. Do you promise that throughout your career? The modern generation has not stayed in one job all her career. They change job or start their own business to fulfill their dreams. The group health plan as such does not matter much. Your new employer may not have a group health plan or may not cover the whole family or may have a limited provision plan. In addition, as new businesses in the country flourish, the younger generation is bucking the trend. Launching new products, applications, extending working hours, demanding deadlines are rabies. If you work as a self-employed person, you do not have an employer-sponsored health plan for you. So wouldn't you need a health plan?