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. #21
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    Re: Health Insurance

    Quote Originally Posted by SouthernDemocrat View Post
    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.
    Makes perfect sense. Thanks.

    Probably explains why hospital charges are so high since their collection rates must be very low. So, in a way, we already cost share wit the uninsured and there isn't much reason to get insurance. I wonder if that will affect the Obamacare plan concept of the middle paying for the lower.

  2. #22
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    Re: Health Insurance

    Quote Originally Posted by vasuderatorrent View Post
    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?
    Actually I think a good portion of Americans really ARE that stupid. But there are empty who know better but pretend they don't get it because they benefit from it and are morally bankrupt enough to know they are stealing from others but don't care.

    Earlier you asked if people can be treated against their will. The answer is YES although the provider does not always get the chance. I'm a first responder, not a licensed doctor, and for us there are two levels of consent. There is verbal consent, and then there is implied consent.

    Verbal consent:

    "I'm a first responder. That's a nasty gash on your forehead, would you like me to stop the bleeding?"

    "Yes, thank you." Or a nod. Or a grunt that sounds affirmative.

    Implied consent is for when that guy says no. Or throws a punch (it has happened) or some other negative response. Then you simply wait for him to pass out. At that point you are working off of implied consent. That means that any reasonable person in that condition would, if able, ask for help.

    Now, as a first responder and not a licensed doctor, I am under no obligation to help anyone, and the first thing we learn is that our first responsibility is to our own safety, and that includes financial safety. So if the moron tells me he doesn't want help, well, I might just let him die rather than risk being sued. If he is obviously a lawyer he's probably screwed. If there is an Obama sticker on his car he may die while I try to decide whether or not I have more important things to do.

  3. #23
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    Re: Health Insurance

    Quote Originally Posted by SouthernDemocrat View Post
    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?
    Is it morally correct to demand the insurance company pay for your medical bills when you only gave them $400 a month for 20 years which adds up to $96,000 in premiums?

  4. #24
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    Re: Health Insurance

    Quote Originally Posted by SouthernDemocrat View Post
    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.
    Replace the $5,000 in the scenario with $0. It seems you would be paying to protect $0 in assets. It still doesn't sound like a good deal for the young person who is broke and healthy. The scenario doesn't change much whether you protect $0 in assets or $5,000 in assets.

    This new information does alter my vote. I voted for the first option but with this new information I would probably choose the 6th option.

  5. #25
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    Re: Health Insurance

    Quote Originally Posted by vasuderatorrent View Post
    Is it morally correct to demand the insurance company pay for your medical bills when you only gave them $400 a month for 20 years which adds up to $96,000 in premiums?
    It's an agreement. In exchange for you giving them 400 dollars a month, they agree to pay a percentage of your medical bills per conditions of the policy. How is that unfair? After all, you are purchasing a product they sell. By having a large risk pool they mitigate their risks (also with reinsurance).
    "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. #26
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    Re: Health Insurance

    Quote Originally Posted by ttwtt78640 View Post
    There is more to protect than assets since a bad debt can ruin your credit, preventing the possible later purchase of a house or car. One of the worst blunders of PPAC was the ridiculous notion that the highest risk medical insurance premium rate can be no more than 3X the lowest.
    Which option did you choose?

  7. #27
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    Re: Health Insurance

    Quote Originally Posted by Taylor View Post
    If you only have $5,000 in assets, chances are that in the case of a major medical emergency, you may be filing for bankruptcy whether or not you have insurance.
    Which option did you choose?

  8. #28
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    Re: Health Insurance

    Quote Originally Posted by reinoe View Post
    Health insurance does not protect assets. It protects your health. Now I don't know about you but I place my health and by extension my life at a greater value than $5K. If you're talking about a mail order bride's life, then yes $5k is about right, although I probably wouldn't pay that much.
    Which option did you choose?

  9. #29
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    Re: Health Insurance

    Quote Originally Posted by Verax View Post
    LIB RULES
    Which option did you choose?

  10. #30
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    Re: Health Insurance

    Quote Originally Posted by vasuderatorrent View Post
    Which option did you choose?
    What kind of witchcraft is this? You quoted me from another thread and pasted it into this one...

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