The Insanity Of Medical Costs

[Jstpssng]

Health insurance is like Social Security... in order for it to work there needs to be healthy people paying in to cover the costs of those who aren't. That's the real driving force behind mandatory health care.

 

[Travelover]

Health insurance is like Social Security... in order for it to work there needs to be healthy people paying in to cover the costs of those who aren't. That's the real driving force behind mandatory health care.

Yep, that is how all insurance works. Most don't collect but those that get whacked are not financially devastated. When the health insurance companies were able to deny those with pre-existing conditions, they were able to offer lower rates because the expensive patients had already been excluded. Whoa to the uninsured, but good for everyone else, though some of the policies had lifetime limits and other gotchas that one didn't really understand until a big health emergency occurred.

 

[CADplans]

^^^ See, that's the thing though. I'm otherwise healthy. Eat better than many, am somewhat physically active, have never really had health or illness issues, have been getting checkups in recent years with no 'defects' noted. Them ... Wham. And mine was very, very minor, no broken bones, no lengthy hospital stay, all outpatient, no long term prescriptions and full recovery expected.

But the very same fall could had led to all of that and possibly long term disability.

Unless I missed it, I do not know your age? And what insurance you are using?

I am a couple years over the magic age of 65,, my health insurance is perfection,, so far,,

Before I turned 65, I was paying over $1,100 per month, and that insurance coverage was VERY minimal,,

I was mis-diagnosed as to needing a hip replacement,,
that ENTIRE replacement was gonna cost me $40, IIRC,, (with my Advantage Plan) as long as EVERYONE was "in network"

Yes, Medicare is magic!! (IMHO) :thumbsup:

If you are under 65, and not disabled, there is no health coverage, unless you are on Medicaid,,I believe,,

 

[fishheadbob]

Diggin It posted a copy of an ER bill where the hospital billed insurance about $2400. The insurance company has negotiated arrangements with hospitals for their fees. Odds are good that the hospital might receive half of the $2400 under this arrangement. If he didn't have insurance he would be on the hook for the whole amount; instead he shelled out a few bucks in co-pays. When I was with the Credit Union the two big causes of bankruptcies were medical bills, and gambling.

 

[PILOON]

In Canada we have a Gov't medical care system.
I knew a few MD's that transitioned at that era.
They admitted that they were finally able to be compensated for their efforts.
Many had to accept chickens and whatnot for their efforts.
BUT they never refused a patient.

TODAY ? you are on a 12 month waiting list to find a GP.
I know, as I am now in that position as my GP had to quit due to a stroke.

But, I now know of all the clinics that won't (or can't) refuse me. (thanks to the internet)

 

[Travelover]

In Canada we have a Gov't medical care system.
I knew a few MD's that transitioned at that era.
They admitted that they were finally able to be compensated for their efforts.
Many had to accept chickens and whatnot for their efforts.
BUT they never refused a patient.

TODAY ? you are on a 12 month waiting list to find a GP.
I know, as I am now in that position as my GP had to quit due to a stroke.

But, I now know of all the clinics that won't (or can't) refuse me. (thanks to the internet)

That's unfortunate, but if you truly understand the US system, I doubt you'd trade it for what you have.

 

[Ken]

I have Social Security, but, I have an Advantage Plan,, which is ZERO cost to me for the plan

Doctor visits in 2019 are $5,,, next year, (2020) doctor visits are ZERO,, no cost at all,,,

Emergency room visits are $50,, all inclusive,, I have used it twice, my doctor said they did over $10,000 in tests because I had chest pains,, zero cost to me,

Meds, two prescriptions are free,, one costs $13 per month,,

I think my health costs are lower than what my grandmother paid in 1968,,,

Dad passed in 1985 and had worked very little where payment into the Soc. Sec, plan not sure most likely minimum amount.

so while Dad still in the house and coroner arriving the phone rang. Soc. Calling and notified us to return last month of payment.

His medical bills were sent to us for payment and we set monthly payment.


As a farmer landowner of course they never forced the sale of land or mineral rights. but the demand for money was a constant reminder they wanted full payment and as quickly as possible.

Back when a dollar was worth a buck. where today maybe 13 cents sure the numbers are higher. equals about the same.
ken

 

[denchen]

Here in England we are due soon for elections, and one party has said if they get in, they will charge all immigrants £625.00 a year before they get access to our NHS National Health Service. So you US guys if you`ve got £625.00 about 800 dollars I guess. and you've got something serious wrong, get on a plane and become an immigrant until your fixed. Bad news, I don`t think this Party will win.

 

[koshari]

we have a levy her in Aus,

How much is the Medicare levy?
Taxpayers, who earn over $26,668/year, pay a Medicare Levy of 2% of their taxable income. If you were earning $50,000/year, then $1,000 of your taxable income would go towards financing Medicare.

The Medicare Levy Surcharge (MLS) is an additional tax between 1% and 1.5% of your income and kicks in once you're earning more than $90,000 a year. For every day that you haven't had hospital cover, you'll pay the tax man more. That's at least $75 a month extra in taxes.

 

[Diggin It]

we have a levy her in Aus,

How much is the Medicare levy?

While you're working here, both a Social Security and Medicare tax are witheld from every pay check, whether you ever use either or not. You're not even eligible for SS until age 62 and Medicare until age 65 in most cases, but there are some exceptions. You could pay in your whole life and die at 61 years 11 months in which case you would not have drawn a single dime.