• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Which of these health insurance policies is best?

Which of these health insurance plans is best?

  • $1,250 a month premium, $0 deductible, $0 coinsurance, $0 copay, everything is covered in full.

    Votes: 1 25.0%

  • $1,000/month premium, $3,000 deductible, $0 coinsurance/copays, covered in full after deductible.

    Votes: 0 0.0%

  • $750/month premium, $6,000 deductible, $0 coinsurance, $0 copays, covered in full after deductible.

    Votes: 0 0.0%

  • $250/month premium, $12,000 deductible, $0 coinsurance/copays, covered in full after deductible.

    Votes: 3 75.0%
  • Total voters
    4
N

Neomalthusian

DP Veteran
Joined
May 22, 2011
Messages
10,821
Reaction score
3,348
Gender
Male
Political Leaning
Centrist
Imagine I'm a health insurer and I offer you four health plans.


1) $1,250 a month premium, $0 deductible, $0 coinsurance, $0 copay, everything is covered in full.
2) $1,000 a month premium, $3,000 deductible, $0 coinsurance, $0 copays, everything is covered in full after you've spent your deductible.
3) $750 a month premium, $6,000 deductible, $0 coinsurance, $0 copays, everything is covered in full after you've spent your deductible.
4) $250 a month premium, $12,000 deductible, $0 coinsurance, $0 copays, everything is covered in full after you've spent your deductible.


Which of these plans is the best? Which is the crappiest?
 
Neomalthusian said:
Imagine I'm a health insurer and I offer you four health plans.


1) $1,250 a month premium, $0 deductible, $0 coinsurance, $0 copay, everything is covered in full.
2) $1,000 a month premium, $3,000 deductible, $0 coinsurance, $0 copays, everything is covered in full after you've spent your deductible.
3) $750 a month premium, $6,000 deductible, $0 coinsurance, $0 copays, everything is covered in full after you've spent your deductible.
4) $250 a month premium, $12,000 deductible, $0 coinsurance, $0 copays, everything is covered in full after you've spent your deductible.


Which of these plans is the best? Which is the crappiest?
Click to expand...

That all depends upon the needs of the customer, which has been left undefined...we need to know about the health, age and financial resources of the customer....as well as the state of the legal requirement to have any insurance at all and if babies will be made.
 
Hawkeye10 said:
That all depends upon the needs of the customer, which has been left undefined...we need to know about the health, age and financial resources of the customer....as well as the state of the legal requirement to have any insurance at all and if babies will be made.
Click to expand...

Interesting. Anyone else agree with this?
 
They all equal $15,000 a year if the person maxes out the deductible.

So (d) would be best for the individual, since the individual could get away with spending only $3000 for the year if they didn't need to see a doctor.



The question of sustainability arises. If everyone took option (d) then how long would option (d) last? Insurers might need to raise that basic premium to make up for everyone paying so little.

Of course $3000 really isn't that little is it, if people keep paying it in without ever going to the doctor.

Maybe it would be sustainable.
 
Amelia said:
They all equal $15,000 a year if the person maxes out the deductible.

So (d) would be best for the individual, since the individual could get away with spending only $3000 for the year if they didn't need to see a doctor.



The question of sustainability arises. If everyone took option (d) then how long would option (d) last? Insurers might need to raise that basic premium to make up for everyone paying so little.

Of course $3000 really isn't that little is it, if people keep paying it in without ever going to the doctor.

Maybe it would be sustainable.
Click to expand...

I've posted this question across three forums and you're just the 2nd person so far to answer correctly.

I should have included an assumption that the insurance buyer does not know whether she or he will need a lot of health care in the coming plan year or not, because technically if someone knew they'd be getting tens of thousands of dollars in health care or more, then they might choose the low-deductible plan just to spread their cost evenly throughout the year. Although technically they could probably easily get a low or no-interest credit arrangement with the provider/facility, or a loan to spread out their health cost just the same. But that's the only conceivable scenario in which the low-deductible plan could arguably be "best," in that it spreads out the annual cost evenly across 12 months which otherwise would be payable sooner. But that's only if the person knows they're going to be incurring lots and lots of health care.
 
Neomalthusian said:
I've posted this question across three forums and you're just the 2nd person so far to answer correctly.

I should have included an assumption that the insurance buyer does not know whether she or he will need a lot of health care in the coming plan year or not, because technically if someone knew they'd be getting tens of thousands of dollars in health care or more, then they might choose the low-deductible plan just to spread their cost evenly throughout the year. Although technically they could probably easily get a low or no-interest credit arrangement with the provider/facility, or a loan to spread out their health cost just the same. But that's the only conceivable scenario in which the low-deductible plan could arguably be "best," in that it spreads out the annual cost evenly across 12 months which otherwise would be payable sooner. But that's only if the person knows they're going to be incurring lots and lots of health care.
Click to expand...

It depends upon a lot of things like I said for instance I was reading that 40% of Americans can not cover a $500 emergency expense, and I furthermore read that many people have insurance but dont access care because they cant pay the deductible.

If you are going to quiz a bunch of forums maybe you best put in a little more work in making a quality question.
 
Neomalthusian said:
Interesting. Anyone else agree with this?
Click to expand...

I agree. The cheapest one -- if you're sickly and you go over your deductible-- will be the $1000 per month plan, but, if you're young and unlikely to incur any major health problems, you could go with the $250 premium and save a lot of money.
 
Neomalthusian said:
Imagine I'm a health insurer and I offer you four health plans.


1) $1,250 a month premium, $0 deductible, $0 coinsurance, $0 copay, everything is covered in full.
2) $1,000 a month premium, $3,000 deductible, $0 coinsurance, $0 copays, everything is covered in full after you've spent your deductible.
3) $750 a month premium, $6,000 deductible, $0 coinsurance, $0 copays, everything is covered in full after you've spent your deductible.
4) $250 a month premium, $12,000 deductible, $0 coinsurance, $0 copays, everything is covered in full after you've spent your deductible.


Which of these plans is the best? Which is the crappiest?
Click to expand...

None of them and all of them.
 
Hawkeye10 said:
It depends upon a lot of things like I said for instance I was reading that 40% of Americans can not cover a $500 emergency expense, and I furthermore read that many people have insurance but dont access care because they cant pay the deductible.
Click to expand...

How can someone who can't cover a $500 emergency expense afford a $1,250 premium per month? People that are this poor shouldn't bother buying any insurance. If they can't afford the premiums or the deductibles, then what are they doing burning all their spending money to protect from financial loss? They have no money to protect from loss. Why should people bankrupt themselves to protect themselves from a small chance of medical bankruptcy?

If you are going to quiz a bunch of forums maybe you best put in a little more work in making a quality question.
Click to expand...

The question has a purpose, and it's to reveal how ignorant most people are with respect to monthly premiums vs. annual deductibles. They don't do the math, and they recoil in horror at what looks like a high deductible but shrug with indifference at premiums that, when multiplied by 12, exceed that deductible amount.

Option 1 guarantees that the customer will spend $15,000 that year no matter what. Every other option only has the potential to cos the customer $15,000 per year. With option 4, the only way you can end up spending as much as you are guarnateed to spend with option 1 is if you need $12,000 of health care or more. Assuming there is any chance you'll spend less than $12,000 on health care in a given year, option 4 is the straightaway winner.
 
Neomalthusian said:
Imagine I'm a health insurer and I offer you four health plans.


1) $1,250 a month premium, $0 deductible, $0 coinsurance, $0 copay, everything is covered in full.
2) $1,000 a month premium, $3,000 deductible, $0 coinsurance, $0 copays, everything is covered in full after you've spent your deductible.
3) $750 a month premium, $6,000 deductible, $0 coinsurance, $0 copays, everything is covered in full after you've spent your deductible.
4) $250 a month premium, $12,000 deductible, $0 coinsurance, $0 copays, everything is covered in full after you've spent your deductible.


Which of these plans is the best? Which is the crappiest?
Click to expand...
All of the above. All of the above.
 
Neomalthusian said:
Interesting. Anyone else agree with this?
Click to expand...
Better question would be "anyone DISagree with this?". For a given individual or family any of them could be the best or the worst.
 
Neomalthusian said:
Incorrect. See explanations above.
Click to expand...
The explanations are foolish and incorrect. First off, anyone considering those choices is going to know his personal, financial and health status and make the decision based on those factors.
 
Bullseye said:
The explanations are foolish and incorrect. First off, anyone considering those choices is going to know his personal, financial and health status and make the decision based on those factors.
Click to expand...

Bullseye said:
Better question would be "anyone DISagree with this?". For a given individual or family any of them could be the best or the worst.
Click to expand...

You haven't done the math on this. All four options have a maximum out of pocket cost (including premiums) of $15,000. Option 1 guarantees that people will spend $15,000, no matter what happens. Option 4 comes with the potential to save the greatest amount of money, without ever being more expensive, in any scenario, in terms of total out-of-pocket cost (including premiums), than any of the other plans.
 
Neomalthusian said:
You haven't done the math on this. All four options have a maximum out of pocket cost (including premiums) of $15,000. Option 1 guarantees that people will spend $15,000, no matter what happens. Option 4 comes with the potential to save the greatest amount of money, without ever being more expensive, in any scenario, in terms of total out-of-pocket cost (including premiums), than any of the other plans.
Click to expand...
No, I did the math a couple of times. But you're offering a chance to save money versus getting nailed with huge medical bills.
 
Bullseye said:
No, I did the math a couple of times. But you're offering a chance to save money versus getting nailed with huge medical bills.
Click to expand...

There is no “nailed.” Anyone needing tons of healthcare is going to be out $15,000 no matter which of those plans they choose. The difference is the plan that covers everything makes them pay that entire cost in premiums, regardless of how much or little health care they end up actually needing.
 
Neomalthusian said:
There is no “nailed.” Anyone needing tons of healthcare is going to be out $15,000 no matter which of those plans they choose. The difference is the plan that covers everything makes them pay that entire cost in premiums, regardless of how much or little health care they end up actually needing.
Click to expand...
So, why the heck did you ask the question if you already had the "answer"? Trying to dazzle us with your brilliance?
 
Carjosse said:
Why? I pay $0 in premiums, $0 in copays, and $0 in deductibles. Yet have full medical coverage.
Click to expand...

I didn't ask what you pay. I asked you to decide which of the four options is best relative to the others.
 
Carjosse said:
So then why are you posting a multiple choice math problem?
Click to expand...

To reveal people's inability to objectively evaluate health insurance plans, and their tendency to irrationally fear and complain about high deductibles while ignorantly paying no attention to the cost of high premiums.

In other words, to reveal what utter bull**** you'll find in articles like these:

Trump brings back crappy insurance, catastrophic health bills, and medical bankruptcy
Horrible Health Insurance Now Legal Again, Thanks To Trump
 
You must log in or register to reply here.
Back
Top Bottom