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Your maximum annual out of pocket expense is known though. Let's say you get cancer and have to visit the Dr. 3 times a week and need meds, surgery, the works, et al. You might incur $3 million in expenses in any given year, but your annual out of pocket expenses would be limited to what your policy states.
Check your policy or call your provider to find out what your maximum annual out of pocket expense is.
If my policy states I have a $20 co-pay for every doctor's visit, there is no way the out of pocket expense can be estimated. If there's some upper limit, yes, but it's probably pretty high. If you think you've gotten some great ins. for what you're spending, I have a beach in Colorado to sell you.
I don't have $200 laying around for stitches. Not a lot of people do, which is the point that Katiana is trying to make. You keep thinking the average person can just shell out $200-$300 for stitches like if they were going out to dine at a 5 star restaurant. If the average person isn't dining out at a 5 star restaurant at least once a year, what makes you think they can afford $200+ stitches out of pocket, which is more expensive than a 5 star meal for 2? It doesn't matter if it's $1000, or $500, or hell, even $100, expensive is still expensive
How much is your health worth?
You've illustrated the conundrum and the challenge. The same people who state they don't have $100 for the doctor probably have a car payment or a cell phone and pay rent or make a house payment. All of those cost more than $100.
You've illustrated the conundrum and the challenge. The same people who state they don't have $100 for the doctor probably have a car payment or a cell phone and pay rent or make a house payment. All of those cost more than $100.
It is simple priorities.
There's a point to that. However, many, many people are "penny wise, pound foolish".
If my policy states I have a $20 co-pay for every doctor's visit, there is no way the out of pocket expense can be estimated. If there's some upper limit, yes, but it's probably pretty high. If you think you've gotten some great ins. for what you're spending, I have a beach in Colorado to sell you.
You would need to check your policy. Some policies don't count Rx or Dr copays towards the deductibles, but most do and the max expense amount is stated in the policy. The selling points of many policies is usually coverage, premiums, and max out of pocket expense. I'm not sure you can make an informed decision about the policies offered if you take away any of those three things
Let's expand on this further though. Here is the financial breakdown of two plans that were available at one point. I haven't found any private plans that don't have coinsurance and have copays without requiring some deductible be met first.
_______________Plan A HSA approved_ VS_____ Plan B low deductible
Premium:_____________ $70_______________ $240
Annual premium:_______ $840______________ $2880
Annual deductible:______ $4500_____________ $1000
Dr visits:_________ Deductible applies_________ $25
Rx:_____________ Deductible applies_________ $10-$35 deductible waived
Rx deductible:_____ Deductible applies_________ $250
Coinsurance:______ None___________________ 20% subject to $3K limit
Max annual out of_______ $4500_____________ $3000
Pocket
Tax savings for HSA at:
20% tax rate:___________ $600______________ None
Max HSA contribution:_____$3000_____________None
Expense when healthy:___ $840____________ $2880
Expense when very sick:__ $5340_____________ $7130
After tax expense:______ $4740____________ $7130
Last edited by lycos679; 07-05-2013 at 05:24 PM..
Reason: add example
If my policy states I have a $20 co-pay for every doctor's visit, there is no way the out of pocket expense can be estimated. If there's some upper limit, yes, but it's probably pretty high. If you think you've gotten some great ins. for what you're spending, I have a beach in Colorado to sell you.
Yes you can.
My out of pocket caps out at $5k/year.
So long as I have $5k in the bank... And rebuild it whenever that $20 copy hits.... I'm covered for the year.
I don't have $200 laying around for stitches. Not a lot of people do, which is the point that Katiana is trying to make. You keep thinking the average person can just shell out $200-$300 for stitches like if they were going out to dine at a 5 star restaurant. If the average person isn't dining out at a 5 star restaurant at least once a year, what makes you think they can afford $200+ stitches out of pocket, which is more expensive than a 5 star meal for 2? It doesn't matter if it's $1000, or $500, or hell, even $100, expensive is still expensive
you'll be spending a lot more than that for singlepayer
'''most''' people are SUBSIDIZED through their employer...the employee pays 25% of the premium and the employer pays 75%
with singlepayer. 100% will be paid for by the individual taxpayer
100% or even 80/20 health care for 320 million people will easily cost 3-6 trillion each and every year
and it has zero to do with the profit of insurance or even insurance in the first place
the simple fact is health CARE costs...
those doctors, and those nurses (like Katiana) do need to get paid....and supplies and equipment is not(nor will it ever be) free
I'm in favor of single payer if EVERYONE is taxed the same amount for it. And I don't mean the same rate, I mean the same amount. I'm very tired of subsidizing able-bodied leeches.
You don't know how single payer works. Some systems have a tax on employers as well.
Don't forget the power bill. They don't use electricity in UHC countries.
Japan keeps many of their government entities to around 60 degrees in winter time to conserved money.
Americans would freak out if they had to work in 60 degree temp in the winter time even though a sweater would be more than enough to work comfortably.
There are things they do in other countries to conserve money the US would consumer would be angry and against.
I love how liberals are already admitting that Obamacare is a complete failure..
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