Health Insurance Question for fulltime players

[scott8]

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I am still on my parents insurance so I am rather ignorant on this issue.


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[slavic]

Do a search for health insurance plans offered in your state and then look at their disaster insurance policies. IF you are sufficiently bankrolled what you will find are relativly low cost policies that cover nothing until you spend 10k and then they kick in.

This likely won't cost you more than a few hundred a year, and if you get hurt or sick, it will save your hide. In the past year I have racked up a very high 6 figures hospital sum for two health issues, and 18 months ago I would never have even guessed I would have had a problem. The point is that you never can tell and this is not an area that you really want to gamble.

[StacysMom]

well scott, I truly appreciate your constructive comment. I hope to hear more from you some day! I especcially like the part where I acknowledge a lack of knowledge, and then you point out that I don't know everything. Great Post

[BigBaitsim (milo)]

Not having health insurance is very dangerous. While you are unlikely to have a severe or costly injury/illness at a young age, if it happens you can be financially crippled for years to come. Add to this the financial disincentive for seeing a doctor when you should (and thereby missing a serious problem that could have been caught early) and this one's a no-brainer.

[slavic]

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I posted this in another thread and got no replies, I would like some [img]/images/graemlins/wink.gif[/img]

I am still on my parents insurance so I am rather ignorant on this issue.

But I can still make an anology that is up for criticism.

Insurance is essentially playing a lower limit game with an unbeatable rake structure because you don't want to maintain the becesary BR for the big game.

Does anyone here just essentially pay themselves premiums in a designated "health" account? THis would avoid the rake.

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Let me offer you a game. (hypothetical)

We will use a fair random number generator ok.

it will throw out an integer between 0 and 99. 99 of these numbers will be safe for you and you will win $1400, if the one off number comes up, unfortunatly we have to kill you.

Your EV is very high on this, how many times do you want to play?

[jasonHoldEm]

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pay themselves premiums in a designated "health" account? THis would avoid the rake.

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Statistically speaking this would work in theory, but it sure would suck if you were the one who got cancer a year after you started this savings plan. Also, I think the very large majority of people don't have the discipline to handle this sort of savings plan (I know I'd be buying a new house/car/pizza with the money).

J

[scott8]

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well scott, I truly appreciate your constructive comment. I hope to hear more from you some day! I especcially like the part where I acknowledge a lack of knowledge, and then you point out that I don't know everything. Great Post

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No problem.

I liked where you admitted to knowing nothing and then proceeded to make an analogy as if you did.

Perhaps, if you had simply asked a question concerning the importance of health insurance a different response would have been appropriate.

However, you went the jackass route, and look where it got you.

[otctrader]

Another caveat as it pertains to MSA's is that you will incur charges from doctors/hospitals at full retail cost, which can be up to 4-10x what the insurer negotiates. I look at my statements, and routinely see doctors bill for $1,000+ and get paid less than 25% of that by insurance.

Under any major insurance, of course, you aren't responsible for the difference - however under an MSA you're pretty much forced to pay the arbitrary charges a doctor sets (take it or leave it).

[Stellastarr]

Move to Canada.

[slavic]

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Another caveat as it pertains to MSA's is that you will incur charges from doctors/hospitals at full retail cost, which can be up to 4-10x what the insurer negotiates. I look at my statements, and routinely see doctors bill for $1,000+ and get paid less than 25% of that by insurance.

Under any major insurance, of course, you aren't responsible for the difference - however under an MSA you're pretty much forced to pay the arbitrary charges a doctor sets (take it or leave it).

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To the best of my knowledge doctors rates are negotiable by an individual. It may not seem like it and if you accept service before hand, it likely won't be, but you are able to work with most doctors on costs if you are paying by yourself.

The best examples of this are the more commercial medical procedures offered in the US. Take Lasik, or cosmetic surgery for example.