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I'll be moving out of my parent's house for school again after the summer is over, although this time on bad terms, in other words I'm going to be completely cut off from everything (not that they were really paying for anything in the first place) but now I will have to do some shopping for health insurance. Honestly I don't really know what to look for, what is an average price good deal/bad deal.
Could anybody help steer me in the right direction? I'm a 22 year old non-smoker.. I don't have any health issues, no diseases nothing of the sort. I don't need any dental insurance because I don't like going to the dentist anyways. I pretty much want something basic that would allow me to go to the doctor and get some pills if I'm sick, or will cover me if I break my arm doing whatever I might be doing.
I have no problem paying cash, I'm not really worried about paying for a checkup or paying for a prescription, but if I'm out and I break my arm, there's no way in hell I'll be able to pay hospital costs. If there wasn't the chance of serious things happening to me I wouldn't worry, but I'm poor with little to no safety net, I have to do things on the safe side to a point here.
I have no problem paying cash, I'm not really worried about paying for a checkup or paying for a prescription, but if I'm out and I break my arm, there's no way in hell I'll be able to pay hospital costs. If there wasn't the chance of serious things happening to me I wouldn't worry, but I'm poor with little to no safety net, I have to do things on the safe side to a point here.
I went without health insurance while in grad school. No sweat. Pay cash. As to breaking bones and accidents? Life happens, look both ways and if you still get hit tell the hospital to put it on your tab . Besides, you could get some low premium catastrophic type insurance just for that. Being young has its upsides. No money, no net worth, no lost opportunity. Good luck to you. Life has no guarantees, how preposterous is it to "insure" it really?
P.S. Healthcare in this country is a racket. If I was offered the services at the negotiated rates insurance providers get, I wouldn't need insurance in the first place. They can stuff the 5K MRI, I was born in some second class medical facility in the early 80s, I turned out alright. Why should popping a kid cost 30K unadjusted in 2010 anyways?!? Burn it to the ground I say. Even with the " best medical system money can buy" people still die from medical malpractice and get the wrong leg amputated, in the good ol US of A. Might as well save you the money if your odds are what they are...I digress.
I went without health insurance while in grad school. No sweat. Pay cash. As to breaking bones and accidents? Life happens, look both ways and if you still get hit tell the hospital to put it on your tab . Besides, you could get some low premium catastrophic type insurance just for that. Being young has its upsides. No money, no net worth, no lost opportunity. Good luck to you. Life has no guarantees, how preposterous is it to "insure" it really?
P.S. Healthcare in this country is a racket. If I was offered the services at the negotiated rates insurance providers get, I wouldn't need insurance in the first place. They can stuff the 5K MRI, I was born in some second class medical facility in the early 80s, I turned out alright. Why should popping a kid cost 30K unadjusted in 2010 anyways?!? Burn it to the ground I say. Even with the " best medical system money can buy" people still die from medical malpractice and get the wrong leg amputated, in the good ol US of A. Might as well save you the money if your odds are what they are...I digress.
Naw, you are telling the truth.
Last numbers I read is the US is something like #32 in quality but about double the next highest on price.
Medicorp, Inc. (i.e, the Medical, Pharmco, and Health Insurance) bribed Congress to write various laws to F US.
Like you say, the prices are just made up and generated to cheat and scare folks. You mentioning the $30K price gouging for a kid . . . Our three kids cost us about $3500 (cash) each with top quality mid-wife care all the way.
US Medical Care TOTALLY sucks.
And the Corporate Health Care [Insurance Racket] Obamanation just looks worse. Suppose that will be wiped out in the National Bankruptcy.
What stupid advice, I'm assuming she does not have $100k+ to pay for any serious medical problems.
Anyhow to the OP, there is a simple solution here. Open a high deductible HSA compatible health insurance policy. You will pay for most things in cash (from your HSA), but will be insured for any serious emergency. An HSA works like an IRA, anything you put into it is tax deductible and you pay no taxes when you withdraw money so long as you use it for medical costs. You will also be paying the lower rates negotiated by the insurance company rather than the rate you'd pay if you just walked in without insurance.
Anyhow, at least here, a policy like this would cost someone your age around $65/month.
Don't bother with dental insurance, its always a rip-off. You can save in your HSA for dental.
I
If I was offered the services at the negotiated rates insurance providers get, I wouldn't need insurance in the first place.
Why is that? I know its not because your rich. Perhaps you can foresee the future and know you will never have a serious medical problem? That must be it.
... simple solution here. Open a high deductible HSA compatible health insurance policy. You will pay for most things in cash (from your HSA), but will be insured for any serious emergency. An HSA works like an IRA, anything you put into it is tax deductible and you pay no taxes when you withdraw money so long as you use it for medical costs. You will also be paying the lower rates negotiated by the insurance company rather than the rate you'd pay if you just walked in without insurance.
Anyhow, at least here, a policy like this would cost someone your age around $65/month ...
While I agree with others that the US health care system is mostly a rip-off (absolutely most expensive, on average mediocre service), indeed the least worse solution is the above.
Better is if you can combine that with regular travel to a low-cost country with decent health care service for routine and mid-technology services, where costs can be 1/7 to 1/10 less than in the US for the same, if not better, results, paying cash out-of-pocket and leaving your HSA alone.
On top of that, enjoy a real human relationship with an actual doctor (not a two-minute brush-off from a gouger - probably student-loan indebted or in any case money hungry -, while the assistants do most of the work) and real pharmacies with knowledgeable owners and real, effective medicines (not disinterested, often nasty, employees and mostly useless, overpriced OTC placebos).
Even if you don't engage in regular travel that would justify the saving on routine services, in many mid-technology cases - like corrective eye surgery to make one example - a trip abroad is well worth it, economically and qualitatively.
As mentioned, the US high-deductible policy best serves for relatively high cost emergencies, like the results of an accident, or for problems that require the highest and latest level of technology.
Spend less than what you make, save the rest and you will do fine.
Don't fall for all the med/pharmco/insurance industry "OMIGOD!" hype.
Our docs love cash and give us big discounts for using it.
Cash is a totally flexible, go anywhere, anytime, no pre-approval system.
This is bad advice.
I have actually been turned away from doctors when I was uninsured while trying to pay cash.
Many doctors will not take you at all if you dont have insurance.
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. Besides, you could get some low premium catastrophic type insurance just for that. Being young has its upsides. No money, no net worth, no lost opportunity. Good luck to you. Life has no guarantees, how preposterous is it to "insure" it really?
