Planning on dropping Health Insurance. Change my mind.

[Fuddy1952]

One last story and I'll shut up.
I grew up on farm, two houses, grandparents lived next door. Grandfather was a Physician! So seven of us, mom's brother lived with grandparents as he had Downs Syndrome.
We all were healthy, great diet, exercise. No smoke or drink (not even soda!).
Dad was 35 noticed lump on neck. Thyroid cancer (as a kid in early 1930s x-ray was used on him for a sore throat!)
He had surgery locally, although surgeon said he was fine grandfather next door insisted he go to Sloan Kettering in NYC.
Dad did, it had metastasized. He had radical surgery, Dad, may he R.I.P., passed away just a few years ago at 89.
Point is: 1) he had insurance, imagine cost even back then early 60s?
2) he lived a good, long life, imagine if no insurance? He was a great Dad, husband.
3) Although I'm on Medicare, I still pay for insurance for me (Anthem part F) and wife.
4) I have insurance on everything, even a Farm Use truck that is rarely driven on road.
Anyone can save money by not having stuff like a generator, extra food, ammo, car, clothes, money, but it's insurance.
Multi-Billionaires have insurance.

 

[Fuddy1952]

That's what I bought for my wife. Medishare, Christian Care Ministries.

If you are a Christian, you can get Christian healthcare. For a single person, less than $150 a month. Would that help?

 

[BrokeFarmerJohn]

As someone else has mentioned, if you get hospitalized without insurance, and you go bankrupt, we'll have to pay for you. So don't talk about greedy doctors, hospitals, etc... when the world is full of inconsiderate folks like you who would rather purchase rental property than protect the rest of us from having to take care of them when the time comes.....

Ouch! That was rude. :laughing:

IF, is the key word there.

I can say the same thing about people saving for retirement, I have to pay social security and taxes to cover the folks who didn’t plan for retirement and find themselves at the age for retirement but no money saved up.

I will pay Society way more then I will take, don’t worry about that. I have already paid into social security since the age of 17, 11 years now, I have always paid my taxes on time and have always been employed, I have another 30-40 years to pay into social security. When I’m that age I plan to be financially independent, I won’t need SS.

 

[BrokeFarmerJohn]

If you are a Christian, you can get Christian healthcare. For a single person, less than $150 a month. Would that help?

Yes I am a Christian, that’s a good idea but I’m paying around $185 a month currently, so it’s not enough of a savings to justify getting away from employers insurance.

Thanks for the idea though.

 

[Jchonline]

I guess I have a prob with over paid doctors, greedy pharmaceutical manufacturers that are only out to cure sick people. Those people aren稚 in the business of curing people, they are in the business of treatment and pushing pills. I知 just tired of feeding the beast.

The overpaid doctors and Pharma companies have been around for decades and we didn't have the issues we have now. What we have now are "Healthcare systems" that treat it as a business. So now you have yet another greedy group taking your money added to the mix.

 

[Fuddy1952]

You've started a post about dropping your insurance, change my mind. Many people here have given great advice and reasons why you need insurance.
Why not simply drop your insurance and say nothing. Maybe you'll be lucky and never have a problem. I hope so.

 

[BrokeFarmerJohn]

Don't do it - two days after dropping full coverage on our Jeep wife totaled it on an icy curve.

Here is an idea take your young healthy soul down to the National Guard or Reserves and sign-up. Your county will benefits from your experience and vigor and you will have access to much cheaper health and life insurance.

That’s a bummer about the Jeep.

I most likely won’t drop my health insurance, mainly because I have assets I don’t want to lose like other have pointed out.

I have always wanted to serve the country, I have thought a lot about enlisting, I have a lot of skills in HVAC, electrical, plumbing, building automations and a bunch of other residential and commercial systems, but I don’t qualify for the military, or I prob would have joined the marines or navy back in HS. The navy has some really cool programs.

 

[Jchonline]

IF, is the key word there.

I can say the same thing about people saving for retirement, I have to pay social security and taxes to cover the folks who didn’t plan for retirement and find themselves at the age for retirement but no money saved up.

I will pay Society way more then I will take, don’t worry about that. I have already paid into social security since the age of 17, 11 years now, I have always paid my taxes on time and have always been employed, I have another 30-40 years to pay into social security. When I’m that age I plan to be financially independent, I won’t need SS.

It is akin to leaving the gas stove on with no fire lit...and hoping you remember to not spark anything in the house. If you do, the you loose the entire house and all your belongings...maybe your livelihood. If you dont, well you dodged the bullet.

I just dont think dodging this kind of bullet is one worth the risk.

My advice to you is take the new job if it pays more and helps you get financially free. From your statements, you are only 2 years away from that rental. With the job you could have both insurance AND the rental. After you get it...if you dont like the job then find a new one. I would much prefer to swap jobs than abandon insurance. And I should qualify I am self employed and have been for 15 years. So I am not a company man!

Now what you haven't told us is what your current policy covers? If you are hospitalized does it cover 80%? 100$? It might be bad enough that you will be bankrupt anyway

 

[BrokeFarmerJohn]

It is akin to leaving the gas stove on with no fire lit...and hoping you remember to not spark anything in the house. If you do, the you loose the entire house and all your belongings...maybe your livelihood. If you dont, well you dodged the bullet.

I just dont think dodging this kind of bullet is one worth the risk.

My advice to you is take the new job if it pays more and helps you get financially free. From your statements, you are only 2 years away from that rental. With the job you could have both insurance AND the rental. After you get it...if you dont like the job then find a new one. I would much prefer to swap jobs than abandon insurance. And I should qualify I am self employed and have been for 15 years. So I am not a company man!

Now what you haven't told us is what your current policy covers? If you are hospitalized does it cover 80%? 100$? It might be bad enough that you will be bankrupt anyway

I’ll have to get back on the coverage, I remember comparing it to the affordable care act plan a year or so ago, it was better but not by a lot.

When I laid my bike down the bill was around 10k, I paid $1800 of that out of pocket on my current plan. Plus $200 ER visit Co-Pay and prob other expenses I’m forgetting. That was the only time I used the insurance that year.

 

[Garandman]

At age 28 I was still in the Army, but after getting out needed knee surgery. In Friday morning, out Friday afternoon. The bill from the hospital was $18,000 and that was 30 years ago.

OP must be making serious coin to entertain this idea. Sounds like the budget could stand some motorcycle training as well.