reply to post by DJM8507
Here's the truth of the matter from an investment guy who also carries an insurance license. You are paying perhaps $200-500 dollars per month
towards your employer sponsored group health insurance plan. Your employer is paying substantially more than that for your plan, picking up most of
the cost. If you have a family of four, the total cost of this plan, depending on its' level of coverage, may be $1500 per month or so. THat's
$18,000 per year.
Health insurance is a relatively new concept. 50 years ago, most people didn't carry health insurance. And for good reason. In the 60's the gummint
began to meddle in insurance. This forced your provider to pay for just about anything under the sun. Up go premiums, and as insurance companies have
deep pockets, up go lawsuits. Rediculous lawsuits. Lawsuits have created about half the cost of your insurance. Much of the rest of is the result of
government meddling. For example, a gay man contracts aids from his "he bitch". This wasn't an accident, was completely preventable, and was the
result of some foolish behavior where the "victim" knew the risk he was taking. Can't put a clause in there to prevent the insurance company from
being on the hook because the gumming says so. It's a way our gummint takes money away from one party (insurance company) to buy the vote of another
(gay people). Insurance companies make around a 4 percent profit. That's it. Often, they actually loose money.
But oftent the problem is with us. We somehow get it in our head that we have to buy insurance. If you're under 50, and reasonably fit, you're
better off without it, or perhaps with just a catostrophic policy. You see, you can go to a doc-in-a box for about $50. He'll look at your throat,
prescribe some pills, you go to target, and get a $4 generic perscription. If you get sick twice a year, that's $108. That's it. Lets say you have
an accident and injure your knee, requiring a bit more care. They cart you to the ER, sew up your knee, put your arm in a cast and keep you overnight
With insurance, your looking at (typically) $100 for the er visit and 10-20 percent of the hospital bill. Lets say it's $5000. That's a total of
$1100 out of pocket. Here's the trick. They charge the insured more than the uninsured. So for an uninsured guy, that's around $2800. They'll take
a payment plan, so figure $235 per month for a year. That's about your cost or less for that plan, but it goes away in a year. In the meantime,
suppose there were no insurance, freeing up another 15 grand per year your boss could pay you. Accident and all, your about 12 grand ahead. In fact,
the whole country wins. Even without, your not going to get sent to the hospital every year. Trust me, you really don't need the insurance if your
young and healthy. In the event you get cancer, a low cost catastrophic policy will do. Even with insurance, if a young single guy gets cancer, he'll
probably go bankrupt either way. If you're young, take the money and put it away in a ROTH IRA or other investment class. You see, in the event an
illness bankrupted you, they wouldn't be able to get ahold of your qualified account. Thanks me later.