Planning on dropping Health Insurance. Change my mind.

[ultrarunner]

You need a plan... either have no assets/employment so taxpayers cover you which really is a plan and does work or you need coverage to protect the lifestyle you enjoy...

 

[dmccarty]

A previous post mentioned a helicopter ride. Years ago we found out that in at least some NC hospitals, cardiac patients are transported by helicopters between hospitals. That copter ride will set one back a few pennies without insurance....

Later,
Dan

 

[ROUSTABOUT]

Unless you are an illegal immigrant or a welfare recipient you better keep your insurance. Remember, millions are depending on you.

 

[Fuddy1952]

Years ago (pre-*****) I wanted health insurance with highest deductible I could find. $10K would have been fine...just catastrophic insurance. I did find Anthem Blue Cross $1,000 deductible for $100/month. Then obamacare...silver plan $1,500/month .
Of course I thought since we had insurance no worries but that all changed. Whenever the government gets involved things change not for the better.
We never had life insurance. I wouldn't drive down driveway without car insurance. All insurance is extremely important and as well as an umbrella coverage.

 

[MossRoad]

My wife and I have always carried term life insurance on each other, just in case, to replace the other's income if something should happen. As our kids got older and went out on their own, and our retirement funds grew, we gradually reduced the coverage. We'll drop it completely at retirement.

 

[marhar]

As of 2019 there is no penalty for not having health insurance.

I have had health insurance threw my job for over 4 years, I have only needed it one time when I laid down my motorcycle 3 years ago or so. I’m 28 years old and haven’t been sick in 5+ years, not even a cold, I don’t use my insurance other than maybe a check up once a year.

I pay around $2200 a year for the lowest plan of insurance threw work. Middle plan is $4200 a year and the most expensive is $6200 a year. For one person. Seems like a crazy amount of money for something I have only needed once in at least 4 years.

You are correct there is no gov't imposed penalty for not having coverage. I also understand you a young and healthy. One insures for items you cannot afford to pay for. For example, I have a high deductible home insurance policy; I cannot afford to rebuild my house but I can afford a deductible of a few thousand dollars.

Can you afford to be in the hospital for 2 weeks with a broken back if you are in a car wreck and it is your fault? Something as simple as going to an ER with a kidney stone can cost 3k...I know. Do you have collision insurance on you car? If you do why?

 

[Larry Caldwell]

I had a bad appendix when I was 25, with no insurance. Things were cheaper back then, but I ran straight into the '73 recession when I got out of the hospital. I got laid off, and the hospital got rude about collecting their bill before I could get them paid off.

 

[Slowpoke Slim]

Helicopter rides...

My wife had one 26 years ago. The bill was $10K just for that ride. We had insurance through her employer (teacher). We only paid $300 out of pocket for the entire bill (including hospital, ICU, tests, etc).

 

[buckeyefarmer]

Hospital got rude with us, even with insurance. Sent our bill to a collection agency because of their screwup. Took forever to get straightened because they are never wrong.

 

[thepumpguysc]

I had a medical bill go to collections too.. took my credit score from 825 to 603.!!!
When I called collections to pay the bill, she said, “ for an extra $30.00 I’ll take that off your credit report.”
I said, “hell yes.. do it”
When I got my quarterly report, the collections was off and my score was back to normal..