Planning on dropping Health Insurance. Change my mind.

[MossRoad]

My mother in law had a liver transplant 13 years ago. So far it's run up about $700,000 in bills. She's out $1500 per year. At the worst, she would have died had she not had insurance, or, she might be bankrupted and living on the taxpayer's money.

A little over a year ago I got my hand slammed in a freight elevator door (which latched shut on my hand, then the elevator car left that floor. ouch!) It did a number on my dominant hand. Compound fracture of index finger. Emergency room. Reconstructive surgery. Pins. 2 months in a cast. Several months of physical therapy.... all added up to about $30K for a broken finger. Fortunately it happened on the job and my employer picked up the bills. A similar break at home would have been on my wallet. It's shocking how much a small injury can cost.

Insurance is just a cost of doing business as a human. You hope you never need it, but shouldn't feel bad about having it and never using it VS the consequences if you don't.

 

[MossRoad]

My mother in law had a liver transplant 13 years ago. So far it's run up about $700,000 in bills. She's out $1500 per year. At the worst, she would have died had she not had insurance, or, she might be bankrupted and living on the taxpayer's money.

A little over a year ago I got my hand slammed in a freight elevator door (which latched shut on my hand, then the elevator car left that floor. ouch!) It did a number on my dominant hand. Compound fracture of index finger. Emergency room. Reconstructive surgery. Pins. 2 months in a cast. Several months of physical therapy.... all added up to about $30K for a broken finger. Fortunately it happened on the job and my employer picked up the bills. A similar break at home would have been on my wallet. It's shocking how much a small injury can cost.

Insurance is just a cost of doing business as a human. You hope you never need it, but shouldn't feel bad about having it and never using it VS the consequences if you don't.

 

[RickB]

I will always be thankful for the good health I致e been blessed with. Though, I can understand his frustration with paying, paying paying for years and years with never getting a break because I致e had good health and haven稚 been a drain on the system.

It痴 also easy to feel some resentment toward people who run to the doc with every little complaint and supposed ailment because....�nsurance?


.

You get it. Pay out all this money for a what if, and never see any benefit from it. Itç—´ like a black hole that sucks up wealth.

Not my quote. Not my sentiments.

 

[Gem99ultra]

Health insurance is a money wasting idea... unless you need it. If you know 'when' you'll need it, drop it until just before you do. otherwise, don't take the gamble. Same goes with life insurance, or any other insurance for that matter.

 

[D2Cat]

Health insurance is a money wasting idea... unless you need it. If you know 'when' you'll need it, drop it until just before you do. otherwise, don't take the gamble. Same goes with life insurance, or any other insurance for that matter.

And if you know "when" you'll need any insurance, you'd likely be wealthy because you'd also know when every stock was going to go up, or split.

Broke Farmer, instead of telling yourself you're wasting money on insurance payments, save your mental health by considering in a savings plan for future health care needs.

 

[Muhammad]

How much were your premiums for insurance?

Her job covers most of it but the total cost with employer contribution and her share it's over $1,200/mo. That's just for her and two kids. My policy is just me for $280/mo.

 

[fishheadbob]

Don't have health insurance cause you've never needed it; Don't have auto insurance because you're a good driver, and don't have life insurance because you've never died.
How about I have assets and can pay my own way. Right, sure. Get screwed up in a car accident on your way to a doctor to get that minor nagging cough taken care of. Bye bye assets in about 2 minutes.

 

[Jim Nelson]

It's a mess and getting worse which means that if you don't play along you will go on the public dole and be a burden on society an never have a decent life. I've had heart problems since I was 10 years old and in the last 23 years have had 2 open heart surgeries amounting to 4 by passes, an aortic valve,pacemaker, 2 stents, a mitral clip, and a monitoring device implanted in the pulmonary artery for pulmonary hypertension. Want to see some doctor bills?


In my experiences I have seen a lot of cardiologists, both in private practice and hospital settings and I can honestly tell you they have done me far more harm than good. In my opinion they are the most mercenary, egotistical specialty in medicine and I'm not alone in my opinion.

In the past 10 years my wife has gone through breast cancer, with all that entails, we've seen that there will never be cancer prevention because there is too much money in it.

My sister in law and her husband are both doctors who are in their 70's now and they say that when they were in med. school there were about 5% of the people going into medicine for the money and 95% because they wanted to help people and do good. Now those figures have flipped and 95% are in it for the money while only 5% are in it for the good.

If you choose to go without insurance it is a huge gamble, sure there are a very small group of people who go through life without problems. Most of these folks very seldom go to a doctor for anything. There is an old saying that doctors kill more people than natural causes. I think it's obviously true.

 

[ultrarunner]

Your health is your wealth.

I still would really like to know where all the money currently goes...

Hospitals continue to close often leaving entire communities without care...

The mandates on what is required are staggering... just saying...

The SF Bay Area is a good place to be poor... a family of 4 would require almost 70k income to equal housing, health, food, utilities, etc.

It is often a generational way of life..

My grandfather was in the insurance business and said insurance is to make the unbearable bearable....

What do you have to loose and proceed from there.

Also... don't think insurance companies pay retail for covered expenses.

 

[caver]

I can relate to the OP even though he's much younger. Late 50's retired at 55 and kept the work insurance where I now pay the premium. $640? a month. $1500 deductible. $40 copay? I think. I went to my practitioner and skin doc once each this year and paid for a good chunk of it. My finance guy uses a faith based health care thing. he pays about 1/3 what I pay and his wife's bill was mostly covered. I renewed with former employer insurance this year because once I leave them I can't go back.