health insurance question (FL)

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Phreakwars:
Of course YOUR personal needs won't change, but the inevitable greed of the insurance industry will. Pre-existing conditions, dropped policy's, denied coverage. These things can and probably would change. Now tell me what good is paying on insurance for a few years that you have never used, just to be dropped from the policy by greed. That's money you the consumer used for absolutely NOTHING.

dkersten:

--- Quote from: Phreakwars on January 25, 2017, 01:55:03 pm ---Now tell me what good is paying on insurance for a few years that you have never used, just to be dropped from the policy by greed. That's money you the consumer used for absolutely NOTHING.

--- End quote ---
It's only good if you end up needing it. If you do, it makes all the difference in the world. In my experience, it isn't a question of if you will need it, only when. Nothing makes you appreciate insurance like seeing a $50k doctor bill with a balance owed of Zero...

I buy life insurance, short term disability insurance, long term disability insurance, car insurance, home insurance, liability insurance, and health insurance. Why? Because ---steaming pile of meadow muffin--- can happen. I would rather be covered and out a grand or two a month over being in debt the rest of my life.

I felt a LOT different when I was younger and went years without having to use insurance. I saw insurance companies the way you do, I saw banks as predatory, and big business as evil and greedy. Life changed my point of view on a lot of things. The beauty of our country is you are entitled to have your own view on things, and are welcome to get into politics and try to change them.

When it comes down to it, there are three scenarios over my lifetime regarding insurance:
1) I end up going through life and never needing it.
2) I end up spending about the same on insurance as I got back.
3) I end up getting more back than I ever paid in.

And my view on each:
1) I went through life with the peace of mind that if tragedy struck, I was covered. And I contributed (voluntarily) to those who did need it.

2) I got to take erratic and unscheduled problems and spread the cost of them over my entire life. And I still got to sleep better knowing I was covered.

3) I made a smart choice buying insurance and it served me well.

Not much downside from my perspective, but YMMV. I might see it different if I were young, healthy, and forced to pay a fine if I didn't contribute to the pool that other people are using and I wasn't. Funny, when you apply ACA to health insurance it sure starts to look like a tax...

Phreakwars:
You are OBVIOUSLY not understanding what I am getting at here. I also invest in life insurance, short term disability insurance, long term disability insurance, car insurance, home insurance (2 houses), liability insurance, and health insurance. Why... BECAUSE I CAN AFFORD IT. Obviously YOU can too. Now just because WE are able to do so, does not mean other's are so fortunate.

When you live paycheck to paycheck and every last bit counts, giving up, say $50 a week, can have a HUGE impact on those who are struggling. If you give up this money, then are faced with a reality, that the company that you have been paying all this time, will not cover you, or will deny you a claim, or even worse... drop you.. That money that you have contributed after all that time, becomes a loss.

Example: You pay $100 a month for 5 years... you NEVER needed a Dr. in that time. Then one day, you get sick, you pee all the time.. you go to the Dr. and discover you now have Diabetes. You submit the claim.. the insurance company drops you. Let's do that math.. $1200 for the year x 5 years = $6000 that you got NOTHING out of. In other words, that's $6000 you paid for someone to tell you the just ain't gonna help you. This ain't right, yet it is the REALITY that many people faced before the ACA. The problem now, is the uncertainty of what is to become of those protections with the looming threat of repeal. Does it REALLY make sense to roll the dice and take your chances that "well, things will come out OK"?

HELL NO.

dkersten:
First off, if I pay $200 per month for 5 years for health insurance and never get sick, I lost the money anyway. Insurance only pays off if bad stuff happens.

Second, I understand very well what you are trying to say. I lived paycheck to paycheck for over 10 years, and when I didn't have insurance and something happened, it hurt. I don't have insurance because I can afford it, I have it because I can't afford to not have it. I am thankful that I never had anything major happen when I was uninsured, or even when I was covered but couldn't afford the deductibles. My closest friend spent a year in a hospital and is a paraplegic. The first bill was $700k. That was 20 years ago, and he is still paying it off.

Third, your pre-existing condition example is not very realistic. If you have insurance and it was never diagnosed, they can't drop you, and never could. If so they were doing it illegally. You can't tell me that the companies that broke the law before ACA aren't still doing it, so that argument is invalid. You also can't assume that the moment ACA goes away, that it is a given that insurance companies are going to start illegally dropping people who get diagnosed with expensive conditions. You also can't assume that whatever replaces ACA will not include consideration for pre-existing conditions.

Instead, look at a more realistic scenario, like you break your leg badly. Surgery, visits, rehab, etc, and you now have a bill for $15,000. If you can't afford that $50 per week, how in the hell are you going to afford the $15k?? And that doesn't even account for how you are supporting yourself for the 12 weeks you are incapacitated. This is why I can't afford not to have insurance.

For the record, my daughter was diagnosed with Type 1 Diabetes BEFORE ACA kicked in. Nothing changed on my insurance. They didn't exclude it, they didn't drop her, and the coverage saved me tens of thousands of dollars. Do you know what insulin costs when you have no insurance? About $800 for 2 weeks supply. That isn't including test strips, glucose meters, insulin pumps, needles, glucogon kits, or any of the other wonderful expenses associated with diabetes.

I agree 100% that there is a range of incomes where insurance is a big problem. And if you can't find a job with coverage, or are self employed, insurance is ridiculously high. But name one thing that is easy in life when you make less than the median income, don't have a spouse who works (or are trying to do a stay at home mom thing). You find a way, and you live within your means. I did it for a long time. I am fortunate enough to be in a better financial position now, and fortunate enough to not have been sick or injured when I wasn't in such a good position. If I found myself back in that position, I would do whatever it takes to have insurance. Like I said though, to each their own.

Locke141:
Sorry for the double post. Was trying to fix my gramer and spelling. I'll leave the below mess to I can get to a computer.

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