According to the definition in Investopedia, health insurance is "a type of insurance coverage that pays for medical, surgical, and sometimes dental expenses incurred by the insurances".
According to a report released by Bankrate, most Americans can't afford even a minor emergency, with only 39 percent saying they have the village light to cover the $1,000 needed in the event of an accident. Health care costs have become one of the causes of rising poverty, and people need to borrow and borrow money to pay for the costs that are supposed to keep them safe and healthy. The cost of health insurance for American families is now more than $20,000, an exorbitant cost that is driving more and more Americans out of the insurance market.
Here are some specific examples:
-An employee at Walmart works 32 hours a week and earns only $10 an hour, so he makes only $20,000 a year, leaving him with no money to pay for the company's health insurance benefits.
-A worker named Susan DeVolid had just more and more medical bills after a heart attack, and his family had quickly exhausted their savings and racked up $8,000 in debt.
References:
https://www.huffpost.com/entry/most-americans-cant-afford-to-pay-for-even-a-minor-emergency_n_5a68e67ae4b0022830090e5b
Health insurance in the United States is way too expensive. It is extremely hard for families who are supported by low wage jobs. I think that there needs to be a new system in place that would lower the cost of health insurance. All people need health insurance and yet very few can actually afford health insurance.
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