Jai_Nepal summarized it pretty well.
Now when it comes to insurance, here is a general rule: EVERYONE NEEDS TO HAVE INSURANCE. The reasons include (but are not limited to): 1. Out-of-the-pocket medical expenses are very expensive, 2. Creates for a bad situation during an emergency, 3. Lack of insurance has caused others to pay the burden
1. Out-of-the-pocket medical expenses are very expensive.
If you get a simple doctor's exam, the payment for that, if you are paying out of pocket, is about $100 in some states. This is just for a visit. The doctor may charge you for tests to confirm if there is anything deeper. If there is something deeper, then it will cost you even more. If you have insurance and make a monthly payment, the expenses are covered up to a certain amount by the insurance company saving you immediate out-of-the-pocket coverage. You would only be responsible for $20 copay. The cost of buying insurance may seem ridiculous at times, because (a) you don't get sick or (b) you don't have that much money. But that's the whole purpose of buying insurance--it is a "just in case" measure.
2. Creates for a bad situation during an emergency
I have seen SO many Nepali students that don't have insurance and then get into a bad situation and have to plead to the community for help. This is fine--the community needs to be there to help out its members. However, if the people had insurance, then the community would not have to bear the burden. There's a sense of personal responsibility when you have insurance. Now if the insurance company doesn't cover your expenses, that's a different story.
But let's say you don't have health insurance and someone hits you with their car and you have to be rushed to the Emergency room. The ambulance ride itself could cost you $1000, let alone the costs at the hospital. I'll be damned if you tell me any regular Nepali student can afford that.
Once again, the point comes back to having insurance as a just-in-case measure. It is a small cost to bear to avoid a greater financial situation.
3. Lack of insurance has led to others paying for the buden
I already mentioned the scenario when the Nepali community has to come together and bail a person out. There is a greater picture. Most of the hospitals' in America say that their primary expense comes from Emergency Room visits. The government doesn't pay for the ER visits, so the hospitals don't get money from anyone and who pays the burden? The hospitals. When the hospitals have to pay for this measure they charge other services a lot (Medicare and Medicaid) leading to the government bearing the expenses. Whom does the government get the money to pay for these things? Tax-payers. In the end, the entire tax-paying population is bearing the cost of the patient in distress. This is fine. But where's the personal responsibility when this situation could have been clearly avoided if the person had some sort of insurance?
In conclusion: everyone needs insurance.
