"It is ridiculous how much doctors, dentists, and hospitals have jacked up their "list" prices (the prices uninsured people pay) to game the insurance and medicare systems." That "list" price is NOT what uninsured people pay. That price is jacked up because the government and insurance companies do surveys of prices to determine "reasonable and customary" prices in the area. If you don't keep your prices up, then they will continue to ratchet down your fees. At some point it will be economically viable to not see patients at all. We all save our money for that day. Then the next group of Physicians comes in without any preconceived notion of what a normal price is and accept at face value what they get. So the treadmill goes. Hugh problem out there with all us 40 and 50 year old docs getting out of the business in the next few years. BTW, all of my uninsureds get charged 80% of what Medicare PAYS, not of what I charge, which can be a hugh difference. And even with that my reimbursement is poor, despite the break I give. Albert
Yes, the disparity between what insurance companies pay and what the 'list' price is just ridiculous. Most insurance companies pay around 50% of what the list price is for prescriptions and medical visits. We have family medical coverage for which I pay $1,175 a month in NYC, but no dental. The 'list' prices dentists charge is just nuts.
Mav, I agree with your probability point of view, but still disagree with your risk management philosophy. I think you should insure whatever risks you cannot afford the hit if you lose. After all, even insurance companies lay off risk to other insurers. Health insurance is an obvious place that very few people could take the $100K+ hit with. But most people could afford the day to day office visits. At least get a major medical plan for disasters. Granted I live in Idaho, but a basic major medical plan can be had here for $50/month for someone in their 20's and no major health problems. Shreddog
Yeah, I agree. I believe in getting a policy for major medical catastrophes. That can be had for very cheap with a high deductible. I am referring to the full blown health plans that people join. Mathematically it just doesn't add up. But hey, it's your money and you should have every right to waste it if that is what you want.
If it is just you and your wife - no kids - then you will probably be much better off with two individual policies, and not a family policy. A family policy is generally more expensive, because it assumes you are also covering children.
You absolutely need a policy that will cover you in the event of a catastrophic illness or accident. Going without such a policy in order to save a few bucks a month is the equivalent of selling naked options - limited upside, unlimited risk. As for "regular" health insurance, of course it's a losing game overall (the insurance companies have to make a profit), but you really have to analyze your own situation - age, pre-existing health problems and family history, savings, etc. - to make that decision.
And don't forget lifestyle. Some smoke, some don't. Some eat junk food, some don't. Some people's diets are heavy in fresh veg. and fruits, some eat everything canned or boxed. The more you stay away from processed foods, the less likely you are to develop health problems. We are into natural medicine, which insurance companies don't pay for. So for us, although we have health insurance, its wasted money. Ho hum.....