[geeks] Discuss this quote...
lionel4287 at verizon.net
Tue Aug 28 15:58:39 CDT 2007
>From: "Jonathan C. Patschke" <jp at celestrion.net>
>Date: 2007/08/28 Tue PM 03:29:31 CDT
>To: The Geeks List <geeks at sunhelp.org>
>Subject: Re: [geeks] Discuss this quote...
>On Tue, 28 Aug 2007, Geoffrey S. Mendelson wrote:
>>> Is medical insurance that big of a deal? Outside of my brief stint
>>> at state employment, I've never had my employer provide it. In fact,
>>> I haven't even had insurance for the last two years or so. I just
>>> eat well and take care of myself. I only get sick enough to miss
>>> work every four years or so.
>> Sure, one day you will need it. Then it will be imposible to buy it
>> and you will be faced with a choice of selling EVERYTHING you own to
>> pay your medical bills or living (as long as you can) with whatever
>> condition you have.
>Insurance isn't what's needed then. Affordable healthcare is, and
>insurance providers survive by inhibiting that (many of the largest
>regional hospital chains also happen to be owned[0 by HMOs). My point is
>that the insurance companies and healthcare providers are playing a
>dirty shell game, and if I can sidestep most of that by providing my own
>insurance (in the form of a savings plan and trying to do the right
>thing), I feel a degree of moral obligation to do that.
>I submit that a person of average health (and luck) and above-average
>financial responsibility has no need for health insurance. They exist
>to prop up the health insurance system. Sticking that $200 - $300 a
>month into moderate yield/risk savings will outweigh healthcare costs in
>all but some unfortunate folks.
My brother (not I) has a very interesting self-insurance option - he has a personal insurance plan that has a *huge* deductable (several thousand dollars), but he is covered for nearly 100% of expenses beyond that deductable. The upside is that his doctors like to see him (he pays upon delivery of service, not 2-4 months later, HMO-willing), and he gets lowered rates (not much, but it helps), and usually a handfull of samples if he walks out with a prescription.
I can't cite his cost, but I think it works out to just a couple thousand a year, plus his deductable, which would make his annual out of pocket expenses just a few hundred dollars a month. I think his worst case outlay would be about $4-5K/year (insurance plus deductable), with 100% coverage from $2500 deductable to $1,000,000 of expenses.
I want to call it "catastrophic health insurance", but I'm not sure...
I also worked for an employer that was 100% self-insured - you submitted your bills to the company, and the company paid you pack from their own pile of money. It was nice (pick the doctor, pick the specialist, etc.) - almost made me wish I had greater health problems - almost.
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