Health insurance provides coverage for medical services and many other important benefits. This is to reduce or eliminate the risk if you were to get sick or need preventive medical care. Some coverage even covers prescription, dental, and vision coverage. Health insurance is purchased as individual, self-employed, and employer sponsored benefit. There are alternatives to traditional health insurance such as:

Individual Health Insurance ACA or Non ACA plans

Short term medical plans 

Indemnity plans (defined benefit plan) 

Heath Sharing Ministries (NOT INSURANCE) 

Medicare Supplements 

These alternative plans usually are underwritten and will need approval unlike ACA plans that are guaranteed issued.

As a rule, health insurance provides financial protection if you get sick or have an accident.