Planning on dropping Health Insurance. Change my mind.

[3Ts]

The reason I see for using health insurance is primarily the negotiated rates with the providers. I am always amazed at the difference between the stated billing charge and the negotiated rate. Most times it's in the 10 to 1 ratio. If I didn't have insurance, I'd end up paying 10x more than what the insurance company pays. (Yes, i pay a bunch every month for the coverage, but over the long term, I could not afford health care if I didn't have insurance coverage.)

 

[Larry Caldwell]

I used to think the same way when I was your age. I thought, "Why do I need health insurance? I'm young and healthy, I'll never use it." But then, life happened. I had a motorcycle accident just like you and ended up needing surgery. Without health insurance, I would've been stuck with a huge medical bill that I couldn't afford.

When I was 26 something similar happened to me. 5 hours with a surgical team, 5 days on IV feeding, and no insurance. It took me four years of abject poverty to pay that off, and medicine was way cheaper 50 years ago. Now I'm getting ready for a heart valve replacement. It should cost me about $100 in co-pay for the overnight in hospital, nothing for the surgery.

 

[denforent]

I was enjoying a leisurely ride on my electric scooter when a woman texting while driving in a parking lot ran over me with her pickup truck. She didn't SEE me (too busy texting).. she had minimal insurance so my ambulance ride, 3 surgery hospital stay and rehab totaled something just over $445,000. Even though I had medicare my part out of pocket was more than you're paying in premiums per year! STAY INSURED.

 

[Boss 302]

All very good advice, keep your insurance