View Poll Results: How much should a person pay for Health Insurance to protect $5,000 in assets?

Voters
17. You may not vote on this poll
  • $1-$99 per month

    8 47.06%
  • $100-$199 per month

    2 11.76%
  • $200-$299 per month

    0 0%
  • $300-$499 per month

    0 0%
  • $500 or more (whatever the cost they should buy it.)

    0 0%
  • $0 No financial planner would recommend insuring $5,000

    7 41.18%
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Thread: Health Insurance

  1. #11
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    Re: Health Insurance

    Quote Originally Posted by reinoe View Post
    Health insurance does not protect assets. It protects your health.
    No. This would be health care.

    Sometimes I think I should just give up on trying to explain the difference between a doctor and an insurance salesman.

    The doctor performs surgery, prescribes medicine, advises on healthy habits and generally cares for the health of the patient. In our country these services are paid for with cash. Sometimes the patient pays the cash. Sometimes the insurance company sends the hospital cash. Sometimes the government pays the hospital with cash. Sometimes the patient doesn't pay for these services at all. The unpaid bills get rolled into the cost of the cash paying entities that I just described. News Flash: Nobody is denied treatment in the United States because they don't have an insurance card. This has been going on for several decades.

    Health insurance is a risk transfer. You give the insurance company a small amount (he he) of money every month. In exchange for your steady cash flow, the insurance company will pay for your medical expenses. The goal of the insurance company is not to save your life. The goal of the insurance company is to pay less in medical expenses for their customers than they take in through health insurance premiums.

    This can't be that hard to understand. Please stop trying to disappoint me and prove that Americans are intellectually bankrupt. Our nation can't have this many morons. Surely you guys are just pretending that you don't understand the difference between a doctor and an insurance agent. Please??? Please??? Please tell me it ain't so. You really know the difference. Right? Your just joking around. Right?

  2. #12
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    Re: Health Insurance

    Quote Originally Posted by specklebang View Post
    Now, if you had to pay the other guy's bill yourself, I don't know how enthused an individual would be about that. I'll guess most "Americans" would say "let the mother****er die - I'm not paying" but that's just my guess.
    That is a fair observation. I guess I didn't think it out. They probably wouldn't say it that way but actions do speak louder than words. You may very well be right. I have seen Americans with passionate hearts without passionate hands to correspond by reaching into their own pocket.

  3. #13
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    Re: Health Insurance

    Quote Originally Posted by vasuderatorrent View Post
    No. This would be health care.
    Well being that in most cases hospitals cannot garnish your wages or take any of your assets due to unpaid medical bills, Health Insurance doesn't really protect your assets. Arguably it does help protect your health as the quality of care you will get, if you have good insurance and thus an ability to pay for medical services as you receive them, is much better than what it will be if you are uninsured and have no ability to pay for those services. This is especially true with any type of chronic disease treatment, or any injury that requires extended care.

    Moreover, it's a quality of life issue. If you are uninsured and are taken to the hospital having just suffered a heart attack, then you are going to recieve life saving treatment regardless of your ability to pay. Even without a law mandating this, this would almost certainly still be the case because unless you had a sociopath in charge of admitting, few people would just let you die in the street because you were uninsured.

    However, if you needed something like knee surgery, you are not going to get that done without some form of medical insurance. It is not life saving thus no one is under any obligation to perform it if you don't have the ability to pay. Thus health insurance in that case provides you with an ability to pay for that surgery and thus improve your quality of life.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: Health Insurance

    Quote Originally Posted by SouthernDemocrat View Post
    However, if you needed something like knee surgery, you are not going to get that done without some form of medical insurance.
    Have you ever heard of cash? You know, that stuff that you give to the Health Insurance salesman.

  5. #15
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    Re: Health Insurance

    Quote Originally Posted by vasuderatorrent View Post
    Have you ever heard of cash? You know, that stuff that you give to the Health Insurance salesman.
    A basic arthroscopic knee surgery runs over $10,000 in most cities. The average cost of a knee replacement is $49,500. Do you think its realistic to assume that most people have that kind of money just laying around?

    I find the premise to your original argument in the opening post to be flawed because in almost all cases you hospitals and other providers cannot garnish your wages or seize any of your assets to recoup unpaid medical bills. At most its going to hurt your credit because your assets are safe. Health issues result in bankruptcies due to the lost work / income related to being sick, not the medical bills by themselves. The purpose of health insurance is to pay for health care should you need it, not to protect your assets. Its more like an extended protection plan you purchase for your car to help pay for repair bills rather than the insurance you purchase for it in the event of an accident.

    Umbrella policies and disability policies are what protect your assets.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

  6. #16
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    Re: Health Insurance

    Quote Originally Posted by vasuderatorrent View Post
    That is a fair observation. I guess I didn't think it out. They probably wouldn't say it that way but actions do speak louder than words. You may very well be right. I have seen Americans with passionate hearts without passionate hands to correspond by reaching into their own pocket.
    Being compassionate with tax dollars is very popular. You paid them already, so compassion is cheap and sounds noble. But that is total bull**** because if you actually had to pay directly - your compassion would quickly evaporate.

    So it goes........

  7. #17
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    Re: Health Insurance

    Quote Originally Posted by SouthernDemocrat View Post
    Well being that in most cases hospitals cannot garnish your wages or take any of your assets due to unpaid medical bills, Health Insurance doesn't really protect your assets. Arguably it does help protect your health as the quality of care you will get, if you have good insurance and thus an ability to pay for medical services as you receive them, is much better than what it will be if you are uninsured and have no ability to pay for those services. This is especially true with any type of chronic disease treatment, or any injury that requires extended care.

    Moreover, it's a quality of life issue. If you are uninsured and are taken to the hospital having just suffered a heart attack, then you are going to recieve life saving treatment regardless of your ability to pay. Even without a law mandating this, this would almost certainly still be the case because unless you had a sociopath in charge of admitting, few people would just let you die in the street because you were uninsured.

    However, if you needed something like knee surgery, you are not going to get that done without some form of medical insurance. It is not life saving thus no one is under any obligation to perform it if you don't have the ability to pay. Thus health insurance in that case provides you with an ability to pay for that surgery and thus improve your quality of life.
    I pretty much agree with you but what do you mean by "in most cases hospitals can not...". Why not? They can't sue for unpaid bills like any other business? Not being snarky -0 just trying to understand that part of your post to enlarge my knowledge.

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    Re: Health Insurance

    Quote Originally Posted by specklebang View Post
    I pretty much agree with you but what do you mean by "in most cases hospitals can not...". Why not? They can't sue for unpaid bills like any other business? Not being snarky -0 just trying to understand that part of your post to enlarge my knowledge.
    The vast majority of states do not allow garnishment of wages or asset seizure for unpaid medical bills.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

  9. #19
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    Re: Health Insurance

    Quote Originally Posted by SouthernDemocrat View Post
    The vast majority of states do not allow garnishment of wages or asset seizure for unpaid medical bills.
    Interesting. I learn something new. I wonder why? Do you know?










    NOTE TO SELF: Do NOT open a hospital....

  10. #20
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    Re: Health Insurance

    Quote Originally Posted by specklebang View Post
    Interesting. I learn something new. I wonder why? Do you know?










    NOTE TO SELF: Do NOT open a hospital....
    I think its because health care bills are considered something not willingly incurred unlike unpaid credit card bills, buying a car you cannot afford, and so on.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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