Mahnken
Well-Known Member
Maybe that's where the problem lies.
How much do you believe in Insurance?
- Thread starter Bike N Gear
- Start date
I am $9200 for medical related insurance premiums and then the rest brings me up to $12,000.
Anyone that has gone through a major medical issue can tell you that with no insurance, you pay way more. I made the mistake of going out of network and landed with a bill of $20k AFTER my out of network coverage paid. I know that number seems small but it was a fairly basic procedure.
Anyways, a high premium may be a good trade off if you max out of pocket amount is on the lower side. Everyone is pushing high deductible plans, which is great if you can build up savings or HSA when you are young to cover the oh shit year. But to start doing that now, it is a big risk for a few years.
Anyone that has gone through a major medical issue can tell you that with no insurance, you pay way more. I made the mistake of going out of network and landed with a bill of $20k AFTER my out of network coverage paid. I know that number seems small but it was a fairly basic procedure.
Anyways, a high premium may be a good trade off if you max out of pocket amount is on the lower side. Everyone is pushing high deductible plans, which is great if you can build up savings or HSA when you are young to cover the oh shit year. But to start doing that now, it is a big risk for a few years.
Karate Monkey
Well-Known Member
My auto insurance covered my: Ambulance, ER/intensive care stay, rehabilitation, AND enough on the side to deal with future complications.
My health insurance at the time: You're too young to need any of these things; denied.
Mahnken
Well-Known Member
I don't remember the specifics because it's been a while since we switched, but we use my wife's insurance. She works at a hospital and they push the higher premium plan that 'covers' everything. Then we got hit with a $4k bill for tubes in my 2 year olds ears because we used an out of network doctor. Thing is, they don't have a pediatrician otolaryngologist in network and wanted us to use the adult doctor in an adult operating room. After that we switched to the HSA plan and max out the HSA, which brings the cost to about the same monthly premium as the other plan, but we can go wherever we want. I believe the max out of pocket we would pay for either plan is similar using out of network doctors. We've used the HSA a few times, but nowhere close to maxing it out.
As the OP, I'm well aware of the benefits of insurance, but our system sucks. My insurance co paid out just shy of $2 million dollars to RWJ for my treatment back in 06. They wanted to ship me to somewhere in PA because they could save a bunch of money on my Stem Cell transplant. My wife fought like hell to keep me in NJ.
It took a while, but she eventually learned to ask people who stepped into my hospital room if they took UHC. Various specialists would stop in for a minute or two from different departments just to ask how I was doing. A month later we'd get a bill for $700 that was out of network.
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A Potted Plant
Honorary Sod
Had my wisdom teeth pulled no insurance charity care picked it up whole cost. I lucked out because they used my pay last year's W2 to qualify. If I had made another ~200 dollars I would have had no assistance. It makes it incredibly hard for people to better themselves when you get cut cold turkey.
If you want to get off assistance you have to make a leapfrog being in being poor by going from poverty to middle class.
A Potted Plant
Honorary Sod
Which is why I wonder how anyone is ok with this, I specific party pushes universal healthcare as the end to everything we love regarding health care. That confuses me would my doc stop practicing because insurance companies are gone?
Get rid of insurance and I'll be out a job idgaf, insurance is stupid and if something is mandatory or a necessity profit shouldn't be part of consideration.
Yeah, it is a game, which is unfortunate. Part of the issue with my insurance is my employer is self insured. So Highmark just pushes contested claims (after a LOT of back and forth) to some one that makes a decision from a financial standpoint. Also, since highmark is PA based, it was a disadvantage to use providers in NJ as it ends up falling up general BCBS.
it seems like most people don’t get it until they are screwed with a claim.
rick81721
Lothar
You pay 2800/year for auto + homeowners insurance? Good ol' PA - tho wait until your kids start driving!
rick81721
Lothar
When I got hit, auto insurance paid for my ambulance, ER, and rehab costs. My health insurance had nothing to do with it - it's how NJ works in car/bike accidents - auto insurance becomes the primary coverage for personal injury
rick81721
Lothar
It's a risk - we've owned 5 homes over the last 33 years and have never filed a claim either. Our FL house is the first one with no mortgage so no insurance is required but no way we'd go without it. Also have Federal flood insurance even tho we are in a once every 500 year designated zone.
We paid for Liberty Mutual homeowner's for over twenty years. Had to make a claim recently and they fought us every step of the way to avoid paying.
A Potted Plant
Honorary Sod
So you change carriers, I don't get a PIP why do I have to insure the banks risk I thought that was what interest rates were for, the hire the risk the hire the rate.
A mortgage is an asset backed loan. Just like a car with a loan. That is why they are inexpensive vs credit card interest or personal line of credit.
A Potted Plant
Honorary Sod
Again so what's with the PMI(realize I said pip) I carry home owner insurance that meets(exceeds) the requirements of the bank. Their investment is backed by an asset, protected by mandatory insurance, and it's my only dwelling. Investments aren't guaranteed
cost of foreclosure and selling along with market fluctuations.
Fat Trout
Well-Known Member
unfortunately this can't / won't ever happen. Currently as it is, employers can show it as a benefit of employment to attract and keep people along with usual compensation. Take it completely off of employers and take it to government (ie universal healthcare) and you will get taxed heavily for the program so it is tied to employment one way or another directly or indirectly. I just wish there was more focus on the year on year cost increases in healthcare which dwarf actual inflation. Really there is zero focus on that which has been a great disappointment to me. Its more focused on the "get everyone covered" concept. Very noble and I'm not against the concept but when that coverage is crap whats the point. Also, when the how do we pay for it thing is glassed over I worry. Thats where Obamacare lost me. I was originally supportive of the concept until it had little to do with reeling in the crazy cost increases. This is not a political statement on my part at all. I'd love heathcare suddenly, but I'm getting older and realize I may be screwing over younger folks who work and thats not fair either and that part bugs me too.