When faced with the high price tag, it’s a common reaction for people to ask the question “do I need health insurance?” They have all kinds of objections to buying health insurance. Here are some reasons why their objections are wrong.

Objection 1: I’m healthy and never need to see a doctor, health insurance is a waste of money

This line of thinking is especially true of people in their twenties. Blessed with good health, rarely needing to even think about visiting a doctor, the health insurance premiums coming out of their paychecks seem like money going down the drain. Asking “do I need health insurance” seems like a financially sound question.

This objection is wrong for several reasons. First, health insurance, or any insurance for that matter, isn’t a product you buy expecting to use it. It’s not like buying a car and then putting it in the garage and never driving it. The insurance is primarily intended to protect you from major financial loss if you have major medical expenses.

Also, this objection assumes that what was true in the past will be true in the future. You may go 6 or 7 years and never need to see a doctor, and then some unfortunate event occurs. Whether it is a hang gliding accident or a tropical disease, one major surgery or illness could be very expensive. If lengthy rehabilitation is involved, you could easily run up medical bills that are much higher that all the premiums you paid for years.

In addition, this objection confuses health insurance with health services. If the question is “do I need health services?” the answer can vary from day to day. Yesterday I felt fine, don’t need anything. Today I have a fever, a little aspirin will do. But tomorrow I could end up in the emergency room, requiring some very intensive services.

But on all three days, the answer to “do I need health insurance” is the same: most definitely yes. I can’t predict when I need health services, but I have the health insurance to cover the costs of care when I do need it.

Objection 2: I’m willing to take the risk, because I’m never sick

Most of this objection was answered above, but here’s something else to consider. Most insurance plans do cover certain preventative or screening services. Even though you aren’t sick or don’t think there is anything wrong, finding out about problems when they are small will save you the pain and suffering of dealing with a major problem, not to mention the time it will take up. And what about a minor injury like a twisted ankle from playing basketball or tennis? Just getting that treated could cost more than several months’ worth of premiums. And you’d have to pay for it in one big chunk, not spread out over time.

So think about what you need in terms of protecting yourself from financial loss if you have a major accident or sudden illness, and how much getting little things taken care of will cost. Then answer the question “do I need health insurance?”