Planning on dropping Health Insurance. Change my mind.

[dmccarty]

Another year down that I didn’t use health insurance, now going on 4 years since I started this post that I have paid into a system, I don’t use……. Here’s to another year of being held hostage by the USA healthcare system.

As my granny would say, thank your lucky stars that you did not need health care. Another granny saying was, you have nothing, if you don't have your health.

Three people I know have died in the last month. One went for a run and dropped dead. The other two health issues over the last decade or two. The odds are you will not be the one just dropping dead, but have a slow decline to death, which is going to mean many doctor visits and time in the hospital.

That may not be a pleasant thing to think about but it is reality.

Later,
Dan

 

[WoodChuckDad]

I think you should go ahead and drop the insurance.
Edit—. I was being facicous. Dropping health insurance would only make sense if you had to chose between your premium and food.

 

[scaredychicken]

Health circumstances can change in an instant.

My wife was physically fit, working a physical labour job (our beekeeping / apiary / honey sales) - she was healthy, active several years ago. Then she developed some medical conditions, was unable to work, bedridden essentially in the past 7-8 years. The business was dissolved, and we are on one income. She is unemployable, has no government support, no pension.

I have had a lifelong disability (cerebral palsy, with moderate impacts), but am otherwise healthy.

We pay about $7500/yr Canadian for the two of us, and we were covered before my wife's health turned (so that hasn't changed our costs), but the benefit is now topping $30,000 /yr Canadian, for a typical year. We'd be bankrupt if not for insurance.

Insurance is insurance - you pay for it, but hope that you don't need it.

 

[4570Man]

Health circumstances can change in an instant.

My wife was physically fit, working a physical labour job (our beekeeping / apiary / honey sales) - she was healthy, active several years ago. Then she developed some medical conditions, was unable to work, bedridden essentially in the past 7-8 years. The business was dissolved, and we are on one income. She is unemployable, has no government support, no pension.

I have had a lifelong disability (cerebral palsy, with moderate impacts), but am otherwise healthy.

We pay about $7500/yr Canadian for the two of us, and we were covered before my wife's health turned (so that hasn't changed our costs), but the benefit is now topping $30,000 /yr Canadian, for a typical year. We'd be bankrupt if not for insurance.

Insurance is insurance - you pay for it, but hope that you don't need it.

I thought Canada had universal healthcare? You still have to buy insurance?

 

[FERLING]

As of 2019 there is no penalty for not having health insurance.

I have had health insurance threw my job for over 4 years, I have only needed it one time when I laid down my motorcycle 3 years ago or so. I’m 28 years old and haven’t been sick in 5+ years, not even a cold, I don’t use my insurance other than maybe a check up once a year.

I pay around $2200 a year for the lowest plan of insurance threw work. Middle plan is $4200 a year and the most expensive is $6200 a year. For one person. Seems like a crazy amount of money for something I have only needed once in at least 4 years.

You can check around and see if you can purchase a policy that has a high deduction which may or May not save you money.
$2400 a year times 10 years is $24,000. 40 years = $100,000.
I was 62 with Prostate Cancer $50,000. Hernia x3 = $40,000 Another operation $12,000 and all this within 4 years. When I received the charges they all were reduced to insurance allowable charges. If I did not have insurance each would have been billed at about 50% more than the prices you see. These cost do not include any doctor visits, just surgerys.

 

[dirttoys]

Another year down that I didn’t use health insurance, now going on 4 years since I started this post that I have paid into a system, I don’t use……. Here’s to another year of being held hostage by the USA healthcare system.

I read as many posts as I could and didn't see this advice, if it is a repeat please forgive me.

Two groups of folks can go without health insurance: The very rich who can have a reasonable chance to pay for care, and the very poor with nothing to lose. If you have any assets you are not comfortable having taken from you, you have to bite the bullet and pay off the risk with insurance. If it makes you feel any better, you are somewhere in the 80 percentile of Americans.

Best,

ed

 

[dirttoys]

I thought Canada had universal healthcare? You still have to buy insurance?

I think Canada gets it via payroll tax, sounds like he maybe self employed?

 

[oosik]

By now you have heard just about every reason - make your decision. Just don't cry if it's the wrong one.

 

[D2Cat]

About 8 years back I got a ride from my farm to the local hospital (14 miles) and the cost was 5K. Bet it's WAY up from that now.

My wife got a covid shot last year March 31. Since then her ins. co has spend over 35K trying to get her health back to what it was, and still going on.

If one believes they are in control of their health, they just have not lived long enough to find out...they don't!!!

 

[Hoodoo]

Another year down that I didn’t use health insurance, now going on 4 years since I started this post that I have paid into a system, I don’t use……. Here’s to another year of being held hostage by the USA healthcare system.

Smartest thing you ever did. $2200 a year is literally nothing. If you're bitching about $200 a mo then one little visit to the hospital will ruin you. Imagine being self-employed and having to foot the whole bill like I did my whole life. Keep paying and stop whining.