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If your paying insurence, then they need to pay for the bills.. Why have a dedcutible to pay on something when your paying a company to pay that bill? Yea we can all have a major medical issue, but no need for me to pay 4k in deductible for you to only pay 80 percent of the bill.. ( if you got a good insurence). They are banking on that the 10k a year you pay them, they wont have to spend it on you, thus making it profit for them. Sorry, if im paying for a premium service such as insurance, you better pay up without any deductibles period. Goes same for car insurance as well. Might as well not have it, since your going to be out of pocket from start anyways. At the end of the year, if you didnt go see the DR, then you should get a refund.
If I were king, I'd give every middle class family 1/3 back on their medical OOP spending at the year's end. If they tow their proper medical line and don't overuse HC services.
If your paying insurence, then they need to pay for the bills.. Why have a dedcutible to pay on something when your paying a company to pay that bill? Yea we can all have a major medical issue, but no need for me to pay 4k in deductible for you to only pay 80 percent of the bill.. ( if you got a good insurence). They are banking on that the 10k a year you pay them, they wont have to spend it on you, thus making it profit for them. Sorry, if im paying for a premium service such as insurance, you better pay up without any deductibles period. Goes same for car insurance as well. Might as well not have it, since your going to be out of pocket from start anyways. At the end of the year, if you didnt go see the DR, then you should get a refund.
Now you are proving how idiotic your point of view really is.
If you don’t see the doctor every year, there’s a higher chance you won’t catch a significant illness early enough- when it’s easier and less costly to treat.
Get a higher paying job (go back to school if you need to) if you are going to continue ranting on about a system ‘owing you something’. Sheesh.
Landlords already do that when their illness or injury renders them unable to pay the rent.
No injury required. Pay your rent or get the hell out. If you can't afford my place, there are millions of other places you can consider. I don't own the real estate market...nobody does.
If you can't afford any of that, join the military or join a convent...or camp in the woods.
I can't afford a Lambo. I don't rent one and then make excuses as to why I should keep it and not pay. If the dealership has to suffer non-paying customers....why should they have to pay their bank, or their suppliers....hell, why pay their employees? Oh, guys...I can't pay you cuz Artillery doesn't have money to pay me.
That's just a dangerous path to go down. Sing for your supper if you have to. Make it work. we all do. Our economic reality is based on creditworthiness of counterparties. When that stops you have Greece.
Or you could thank the medical insurance industry and their greed.
Agreed. I remember when people were knocking ACA right and left because of rising premiums and in the middle of all that, Anthem Blue Cross raised their rates the highest they'd ever raised them after they turned a huge profit.
We really need to look at why medical coverage is so much higher in this country than in Europe or Canada. No, it's not better; citizens in those places live longer. There is a tremendous amount of waste.
You forgot to mention a large percentage of premiums paid go straight towards the insurance companies profits...when was the last time you heard of any insurance company that was not doing extremely well or one that went bankrupt?
Insurance companies bring in far less in premiums than they pay out in claims...hmmm...how do they stay in business then? By investing the premiums and getting great market returns over decades.
You could do the same if you wanted to self-insure and could get the same returns they do but since it is unlikely you have the resources to do that you go with the insurance company that gives you the best value for YOUR dollar and they do the rest FOR you.
That's property and casualty insurance...I don't know nuthin' 'bout health insurance but it seems completely different and yeah, based on greed.
That's just for recent health insurance company bankruptcies, there are a lot more examples for life and/or property insurance. The GrandDaddy event was Hurricane Andrew, that storm alone knocked at least half a dozen insurance companies into liquidation.
I'm not doubting the profitability of insurance companies, I believe most are doing pretty well right now mainly because of massive returns in the stock market where some of their reserves are kept. However don't believe for one minute that they are infallible because of some percentage of premiums going to profits.
That just doesnt sound like a very smart way to operate, if a large disaster happens, it can cause the company to be bankrupt, but that is one of the scenarios why the industry even exists in the first place, when you think about, its ludicrous I start a company, but the only time I can be profitable and thrive is when my services are not used or needed, when they are needed on a large scale, it can drive the company out of business.
I have liability and uninsured motorist auto insurance. Health coverage though my husbands employment. Try very hard to live a healthy life, watch what I eat, exercise and stay active every chance I get. You have to be proactive in order to succeed, not reactive. Just my two cents.
I have liability and uninsured motorist auto insurance. Health coverage though my husbands employment. Try very hard to live a healthy life, watch what I eat, exercise and stay active every chance I get. You have to be proactive in order to succeed, not reactive. Just my two cents.
Thank you. The more people that we can get to look on how to truly take care of themselves vs complain about how much a company will charge to take care of themselves, the better.
It amazes me how people can talk about greed, yet still recognize that payments made on their behalf are beyond the premiums being taken in. Insurance companies aren't allowed to buy risky assets. These past years of zero interest rates have hurt them considerably....and of course, if they can't make it up in income, they will have to raise rates.
But the root cause are people growing less healthy but living longer, which has a wide range of root causes. The more people like yourself that live healthy and longer while paying into the system, the better off all will be. So I say again...thank you.
Get nothing in return? You're getting insurance coverage! Thank your lucky stars that an event hasn't occurred when you needed to file a claim, but when you pay into insurance you are getting coverage at the bare minimum. It's like going on a date and complaining about getting nothing because you didn't sex at the end; you got a date. I think your expectations are out of alignment and maybe you'll be happier with a combination of a perspective change and a way to lower your premiums.
As for us, our insurance is as follows:
Wife's health, dental, term life and AD&D is covered by her firm until she makes partner.
Wife's $850K hybrid whole life is $9K/yr.
My Bronze HSA health premium is $3K/yr (I front-load it with our Amex to get into the bonus tier faster). With the stock market as it is, my gains in the HSA cover the premiums.
My dental plan is $400/yr
Homeowner insurance is $1,300/yr for $650K replacement value and $1K deductible. We have no accidents nor tickets in our history and have never filed a claim on the home.
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