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#1
10-08-2016, 02:32 AM
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Health Insurance how much is to much
I am retired and buy my health insurance from the exchange (affordable care act). I earn to much to get any subsidy from the government. The cheapest plan for my wife and I for 2017 under covered California per year after you add the annual deductible is $21,100/year. This year I was not even in the country almost half the year. Next year I plan to travel even more. Would I just be better off being self insured? Every year the money I would save not carying insurance I could place in a bank account to pay for future unforeseen medical bills. All the years I was working other than an occasional visit to the doctor for a cold I never used my health insurance. In the event of an emergency I can pay for medical care out of my pocket until I am ambulatory and then go to Colombia that has very good health care and medical costs are a fraction of what they are in the US. Actually any country in the world has medical costs a fraction of what they are in the US. I have special cycling insurance that pays $10K if I am injured riding my bike. I also have high coverage under my car insurance for uninsured/underinsured motorist. In the event I need a non emergency procedure I can wait until the the following January when I can enroll in health care if I do not want to pay for it in the US or leave the country. Even if an emergency occurs and I spend $60K in medical bills in the US after 3 years I will still be ahead. My wife and I have no health issues that require medical attention. I will be 58 next month. What do you guys think? Lets say I crash and break a limb or a clavicle that requires surgery. If I pay out of my pocket what is the probability its going to cost me more than $60K in emergency medical care?
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#2
10-08-2016, 03:14 AM
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Why are you adding the deductible if you do not have any history of ever making use of the insurance. Simply look at the cost of the straight monthly fee. Try speaking to a broker. I buy my insurance through a broker and I pay half of what I was able to find online.
As an aside, the father of one of my daughter's friends is a physician with a successful 10 person practice. They planned to switch over from everybody with their own insurance to one overall policy to cover everybody. Once they chose the plan that they were going to start up, it turned out that he would personally be left uncovered for 3 weeks. Since he had never made anything but a minor claim on his insurance in the past, he didn't worry. As luch would have it, he had a stroke during that period and needed immediate care, to the tune of over $400K. Even after bargaining with the hospital and doctors, he is now the CO-owner of a successful 11 person practice
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#3
10-08-2016, 03:33 AM
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I paid $10,800 per year with $25 office co-pays and no deductible for health insurance before Obamacare. I paid nearly $26,000 in the first year of this healthcare fiasco. I now buy the cheapest plan and it runs me $19,000 with $50 visit co-pays or more and $11,8000 deductible IIRC. I did not get to keep my Doctor or my plan.
I would self insure in a heart beat if my wife would go along with it.
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#4
10-08-2016, 03:37 AM
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Nobody sells health insurance online in the USA. Impossible.
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#5
10-08-2016, 06:21 AM
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guess Ive been lucky...five figures for good health insurance?
__________________
chasing waddy
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#6
10-08-2016, 06:48 AM
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people are pissed off
single payer may not be the answer for everyone, but would be good enough for most. maybe in our liftetime.
people are talking: http://www.latimes.com/nation/la-na-...snap-story.htm http://nypost.com/2016/10/07/bill-cl...oved-by-obama/
__________________
Crust Malocchio, Turbo Creo Last edited by eddief; 10-08-2016 at 08:24 AM.
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#7
10-08-2016, 08:08 AM
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But... last year when I had my bad bike crash/hospital stay/neck fusion surgery, the costs were ~ $150K. And I'd agree with the above, that most folks don't figure their annual insurance costs per year by the MOOP (maximum out-of-pocket cost). Last year, we MOOP'd (duh) and it cost us about $21K altogether. A 'typical' year would've cost us about $10K for premiums/co-pays. And for those who think the ACA sucks... well, I hope you (or your children) don't ever have a pre-existing health condition. Because getting health insurance (outside of a group/employer plan) back in the day was near impossible, and if you could find it, unbelievably expensive. Does the ACA need work? I'd say so. But it beats what preceded it hands down.
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Old... and in the way.
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#8
10-08-2016, 08:22 AM
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#9
10-08-2016, 08:28 AM
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The good of the ACA was getting more people than ever covered, but did nothing to address ever spirally costs.
Around here, the larger medical groups must be flush with cash as they are building new facilities at breakneck speeds and paying their top execs big bonuses. The institution I work at just opened a $120 million proton therapy center and finished a $180 million, 15 story clinical research center.
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#11
10-08-2016, 08:56 AM
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I bought my health insurance through the health insurance company itself. You do have to show proof of insurance when its time to pay taxes so the gov knows you have it and wont make you pay a penalty.
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#13
10-08-2016, 09:22 AM
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My premiums went from nearly free to a very good chunk of change. The deductibles went from zero to stupid high. Fewer choices and many miscellaneous restrictions. So yeah, I think Obama care sucks.
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#15
10-08-2016, 09:54 AM
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Socialism works until people like me run out of money
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