Why pay envelope $800 a month for robustness insurance when it does not guarantee to cover anything?
On top of that there is a $500 dollar deductable so how many nation do you know that can pay $500 dollars out of pocket at a time. Most people I know merely live paycheck to paycheck.So what do you think? Should poeple continue to pay packet insurance when they are done paying it holds no cash value and they do not do the chore they should be doing which is covering health expenses?
Answers:
although health insurance is costly, look at the flipside, I have chronic arthritis and if i did not own insurance I would have to pay almost 5,400 a month for medical checkups and humira infusions.
My policy is about the same I salary 835 a month, and then I cover all medical bills up to the first 3000.00, so even beside the garbage insurance that I have, I still squirrel away money in the end.
Agree near the others - quite frightening that most of the people you know live paycheck to paycheck.
A $500 deductible is pretty low. Keep contained by mind that health insurance was never intended to cover every vigour expense you might have - it was intended to be a sanctuary net for big stuff. It has strayed from that somewhat over the years, beside people expecting coverage for anything and everything. (One of the dangers of the system design where on earth most people get insurance through employer - they wanted more without fully realize how much that increased the cost.)
Seriously though - if a person is paying $800 a month for a $500 deductible policy, they may want to see if another plan might fit their needs more. (Unless they are outstandingly ill, and that's the reason that the premiums are so big.)
People who live paycheck to paycheck can't manage their money vastly well, most of the time - so giving them 'cash value' and expecting them to manage, say aloud, a health savings description, isn't going to work, either.
Under your theory, nation wouldn't buy cigarettes or lottery tickets, either, because there's no cash expediency when they're done, and nothing is guaranteed. But in the solid world, they do.
Insurance is a bet. You're betting that you'll have more than $800 of insurance expenses that month - and the odds are hugely, very long, but the payout can be tremendous. The problem is, if you DO have that big problem, beside no insurance, then no one will impart you any insurance in the future, ever.
And near an $800 premium, you're either insuring a whole family unit, or you already have stuff wrong with you. Source(s): agent, 21+ years
tom_baer explained the aim for health insurance from a personal viewpoint.
Health insurance is for the "big stuff". $500 is not big stuff, even for general public living from paycheck to paycheck. Almost all doctors and hospitals will work out a payment plan and most will afford you all the time you need to discharge. $60,000 a year IS big stuff, and is the reason to have insurance. Even if you don't enjoy a chronic health condition a major catastrophe that puts you in ICU for a week and the hospital for a month can easily run over $100,000. Again, this is big stuff.
There are hundreds of policies available, adjectives with varying amounts of coverage. Visit a local independent agent to find out your options. Get a big deductible plan and put the $400 per month you save into an HSA or even a regular savings details. In a year you've saved enough to income the higher deductible, and from then on your ahead of the winter sport (just don't get hurt or sick that first year). Source(s): Independent Agent
Who can argue with such coherent, solid logic?
If most of the folks you know live paycheck to paycheck, most of the people you know need financial sustain. A $500 deductible is really low, and perhaps that's why it costs so much. There are some easy ways to enjoy a cash value robustness insurance. It's called an HSA, and it allows you to use pre-tax money for your care near the health policy as a safety lattice in case something really bleak happens, but it requires some financial discipline.
Go see a fee-only financial advisor who receives no compensation outside of the excise you pay to help label wise, informed decisions.
Related Questions:
Answers:
although health insurance is costly, look at the flipside, I have chronic arthritis and if i did not own insurance I would have to pay almost 5,400 a month for medical checkups and humira infusions.
My policy is about the same I salary 835 a month, and then I cover all medical bills up to the first 3000.00, so even beside the garbage insurance that I have, I still squirrel away money in the end.
Agree near the others - quite frightening that most of the people you know live paycheck to paycheck.
A $500 deductible is pretty low. Keep contained by mind that health insurance was never intended to cover every vigour expense you might have - it was intended to be a sanctuary net for big stuff. It has strayed from that somewhat over the years, beside people expecting coverage for anything and everything. (One of the dangers of the system design where on earth most people get insurance through employer - they wanted more without fully realize how much that increased the cost.)
Seriously though - if a person is paying $800 a month for a $500 deductible policy, they may want to see if another plan might fit their needs more. (Unless they are outstandingly ill, and that's the reason that the premiums are so big.)
People who live paycheck to paycheck can't manage their money vastly well, most of the time - so giving them 'cash value' and expecting them to manage, say aloud, a health savings description, isn't going to work, either.
Under your theory, nation wouldn't buy cigarettes or lottery tickets, either, because there's no cash expediency when they're done, and nothing is guaranteed. But in the solid world, they do.
Insurance is a bet. You're betting that you'll have more than $800 of insurance expenses that month - and the odds are hugely, very long, but the payout can be tremendous. The problem is, if you DO have that big problem, beside no insurance, then no one will impart you any insurance in the future, ever.
And near an $800 premium, you're either insuring a whole family unit, or you already have stuff wrong with you. Source(s): agent, 21+ years
tom_baer explained the aim for health insurance from a personal viewpoint.
Health insurance is for the "big stuff". $500 is not big stuff, even for general public living from paycheck to paycheck. Almost all doctors and hospitals will work out a payment plan and most will afford you all the time you need to discharge. $60,000 a year IS big stuff, and is the reason to have insurance. Even if you don't enjoy a chronic health condition a major catastrophe that puts you in ICU for a week and the hospital for a month can easily run over $100,000. Again, this is big stuff.
There are hundreds of policies available, adjectives with varying amounts of coverage. Visit a local independent agent to find out your options. Get a big deductible plan and put the $400 per month you save into an HSA or even a regular savings details. In a year you've saved enough to income the higher deductible, and from then on your ahead of the winter sport (just don't get hurt or sick that first year). Source(s): Independent Agent
Who can argue with such coherent, solid logic?
If most of the folks you know live paycheck to paycheck, most of the people you know need financial sustain. A $500 deductible is really low, and perhaps that's why it costs so much. There are some easy ways to enjoy a cash value robustness insurance. It's called an HSA, and it allows you to use pre-tax money for your care near the health policy as a safety lattice in case something really bleak happens, but it requires some financial discipline.
Go see a fee-only financial advisor who receives no compensation outside of the excise you pay to help label wise, informed decisions.
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