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Health Insurance

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

  • $1-$99 per month

    Votes: 5 45.5%
  • $100-$199 per month

    Votes: 1 9.1%
  • $200-$299 per month

    Votes: 0 0.0%
  • $300-$499 per month

    Votes: 0 0.0%
  • $500 or more (whatever the cost they should buy it.)

    Votes: 0 0.0%
  • $0 No financial planner would recommend insuring $5,000

    Votes: 5 45.5%

  • Total voters
    11
  • Poll closed .
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?
 
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?
 
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?
 
What kind of witchcraft is this? You quoted me from another thread and pasted it into this one...

It's a recruiting technique. I'm not sure what to call it yet. I have to agree that it's a pretty fancy trick. ;)
 
Insurance for the purpose of protecting your assets by way of not going into debt over medical bills is just one tiny and barely relevant aspect of why everyone needs Health Insurance.

Without Health insurance you can not get proper treatment. You get almost zero preventative care. And the chances of you going to the doctor for regular check ups is slim to none.
Additionally, even when you have plenty of cash it can be extremely difficult to get a Doctor to even accept or see you at all if you do not have Insurance.

People who think that the emergency room handles the needs of the uninsured are simply living a very sheltered life within a bubble.
 
Without Health insurance you can not get proper treatment. You get almost zero preventative care. And the chances of you going to the doctor for regular check ups is slim to none.
Additionally, even when you have plenty of cash it can be extremely difficult to get a Doctor to even accept or see you at all if you do not have Insurance.

Shouldn't they call it pre-paid medical instead of insurance? There is no other insurance product that operates under this logic.

Would you consider an insurance policy with a $25,000 deductible with 100% co-pays for doctor visits to be health insurance? By your logic I would conclude no.
 
What if the person has already filed bankruptcy multiple times throughout their life? Does that change the equation any?
If you can't afford the medical bills, your credit is screwed whether or not you file for bankruptcy.
 
Insurance for the purpose of protecting your assets by way of not going into debt over medical bills is just one tiny and barely relevant aspect of why everyone needs Health Insurance.

Without Health insurance you can not get proper treatment. You get almost zero preventative care. And the chances of you going to the doctor for regular check ups is slim to none.
Additionally, even when you have plenty of cash it can be extremely difficult to get a Doctor to even accept or see you at all if you do not have Insurance.

People who think that the emergency room handles the needs of the uninsured are simply living a very sheltered life within a bubble.

That was my point as well. Medical Insurance does not work like some umbrella policy to protect your assets, its more like buying a service plan for yourself.
 
This changes the dynamic completely. How much money should a person pay to insure $0 in assets? Perhaps I will make another poll that adds a $6,000 deductible to the scenario I just described. I guess I was being simplistic and unrealistic by implying a $0 deductible.

What was I thinking? :slapme:

You are thinking like many young people who want to game the system and place their faith in the Govt. to pay their HC cost in case of emergency. It is only natural but it is getting to be quite expensive for the rest of us. Perhaps we should call their bluff and require everyone to pay their own way. What do you think?
 
If you can't afford the medical bills, your credit is screwed whether or not you file for bankruptcy.

If you get an one million dollar medical bill and the insurance company pays 80%, then you are screwed.
 
Perhaps we should call their bluff and require everyone to pay their own way. What do you think?

I don't see a problem with that. Everybody pays for their own shampoo. We could just mimick the laws for the shampoo industry to mirror the laws for the medical industry.

I don't believe this has even been considered. It sounds genuis. Then individuals could sort out their own situation without encountering the unjustified arrogant belittling from people like you.

I didn't make the laws. I just benefit from them. Is that really so hard to understand? Please redirect your condescending attitude toward your nearest politician and get out of my face. I didn't make the laws.
 
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I don't see a problem with that. Everybody pays for their own shampoo. We could just mimick the laws for the shampoo industry to mirror the laws for the medical industry.

I don't believe this has even been considered. It sounds genuis. Then individuals could sort out their own situation without encountering the unjustified arrogant belittling from people like you.

I didn't make the laws. I just benefit from them. Is that really so hard to understand? Please redirect your condescending attitude toward your nearest politician and get out of my face. I didn't make the laws.

The arrogance is when people only think of themselves and what they can get out of the system. It is not ALL about protecting your own net worth, or it shouldn't be. How can we possibly eliminate pre-existing conditions without requiring all to purchase insurance?
 
The arrogance is when people only think of themselves and what they can get out of the system. It is not ALL about protecting your own net worth, or it shouldn't be.

Then what IS it all about? I.e., why has it ever made sense for a person to buy health insurance?

How can we possibly eliminate pre-existing conditions without requiring all to purchase insurance?

Eliminate pre-existing conditions?
 
How can we possibly eliminate pre-existing conditions without requiring all to purchase insurance?

Let everybody pay for their own medical bills. You were the one that suggested it. Outlaw insurance and hang all insurance agents. The Amish pay for their own medical bills. If an Amish person is too broke, the community pitches in. The Amish are exempt from the Affordable Care Act because insurance is against their religion. They believe insurance is destructive to the community. I agree. Make everybody pay for their own medical bills. You suggested it. I applaud your recommendation as a sensible solution.
 
Eliminate pre-existing conditions?

This is a puzzle. If you don't get a disease, you won't have a pre-existing condition. We can eliminate pre-existing conditions by not getting sick or injured. :shrug:

It was an odd suggestion.
 
why has it ever made sense for a person to buy health insurance?

If you are really rich it makes perfect sense. If the policy has a very high deductible like $20,000 or more it makes perfect sense.

The products on the market today make little sense and appear to be uncontrollably doomed for hyper-inflation or forcing their companies into bankruptcy. Insurance companies are trying to screw over their consumer. The consumer is trying to screw over the insurance company. I am not aware of any other product that yields a perverted business relationship like this. :screwy It's a very unique product. It seems destructive to human relationships but maybe I'm just being overly dramatic. It's certainly odd.

Health Insurance turned into a status symbol rather than insurance. I don't know who the moron was that decided to market health insurance to the middle and lower class.

Most people shouldn't buy health insurance. It makes very little sense. Another product that has been perverted is higher education. Most people shouldn't purchase higher education but that's another issue but it is similar to this product in the way it was perverted over the years.
 
Let everybody pay for their own medical bills. You were the one that suggested it. Outlaw insurance and hang all insurance agents. The Amish pay for their own medical bills. If an Amish person is too broke, the community pitches in. The Amish are exempt from the Affordable Care Act because insurance is against their religion. They believe insurance is destructive to the community. I agree. Make everybody pay for their own medical bills. You suggested it. I applaud your recommendation as a sensible solution.

Most of America cannot pay their medical bills and it's costing us all a fortune. Lets get everyone insurance instead. Problem solved.
 
Then what IS it all about? I.e., why has it ever made sense for a person to buy health insurance?



Eliminate pre-existing conditions?

As a reason to deny coverage of course.

The reason to buy health insurance is so you won't be a burden to others if you need care. I know that seems stupid to a Conservative. The last thing they think of is "others", they are a good reason for needing the mandate.
Personally I think multi-millionaires should be denied insurance since they can afford to pay out of their pocket so don't really need to be insured.
 
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As a reason to deny coverage of course.

The reason to buy health insurance is so you won't be a burden to others if you need care.

That has to be the silliest thing you have ever said. The very nature of insurance is to spread the burden of highly unfortunate things (against which the members are insuring) to others, by way of their membership premiums.

I know that seems stupid to a Conservative.

It's stupid to anyone who understands what insurance is.

The last thing they think of is "others", they are a good reason for needing the mandate.

Insurance has nothing to do with altruism.
 
That has to be the silliest thing you have ever said. The very nature of insurance is to spread the burden of highly unfortunate things (against which the members are insuring) to others, by way of their membership premiums.



It's stupid to anyone who understands what insurance is.



Insurance has nothing to do with altruism.

Since HC is a right,and everyone will need it some day, health insurance really isn't insurance. It merely a means to an end. And Yes you are being altruistic when you pay your HC premiums that include a 20% surcharge for the uninsured. Forced altruism is still altruism.
 
Since HC is a right,

It isn't.

and everyone will need it some day,

For one thing, no everyone won't, and for another, those who do may not need it to be at at anyone else's expense.

And Yes you are being altruistic when you pay your HC premiums that include a 20% surcharge for the uninsured. Forced altruism is still altruism.

No it isn't.

You say some really strange things.
 
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