Health Insurance EV question

[McMelchior]

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most people under 35 will not have any major illnesses except an injury from an auto accident.

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I know perfectly well one example of the opposite does not disprove what "most" people experience. But honestly, without statistics to build a foundation for your claim it seems plainly ludecrous.

My experience: 34 years old I caught a bad urinary infection, pretty much out of the blue. It turned out to be resistant to the 'normal' anti-biotica I was treated with, and progressed to one of my, erh ... private parts. It's my luck nature supplied me with to of these, for after 2 weeks in the hospital the sad remains of the affected body part had to be removed (no need to lanquish in the level of pain associated with this) to contain the infection.

All in all this unfortunate event ended up costing me 3 weeks in the hospital. Never got an explanation why it happened to me. I was happy not to have to cover anything but my loss of income during those 3 weeks.

Best,

McMelchior (Johan)

[punter11235]

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Personally, i leave the gambling to the pokerrooms and not my life. Being cheap with your health just isnt a good idea. EV or no EV.




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What is this ?
ZeeBoo asked legimitimate interesting question and now ppl are telling him not to gamble with his life. C'mon.
Insurances are -EV, for houses , for health and for lives or for anything else. For each insurance there exists bankroll level on which taking this insurance is not wise (to say the least). Now our task is to estimate this level.
Unfortunately I wont give it a shot cause I have no idea what medical costs can be. I would guess 1.5 of a big one would be good enough. Cause even losing unlikely 200k then wont be a disaster.

best wishes

[J-Lo]

What's the number one reason people file for chapter 7 bankruptcy?

medical bills

GET INSURANCE.

[gabyyyyy]

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What you are saying is take the risk, if something bad happens go bankrupt, get medicaid to cover the worst of it, and hope to God that you do not need some really expensive procedures/prescriptions/etc that are not covered through the welfare system.


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Most people under 35 are bankrupt.

[lane mcbride]

okay... say life insurance. if I wanted a 10k package, it would cost me 13 dollars per month... you should break that down into ev right? especially since it's a smaller amount and the event is less likely to happen (compared to a hospital visit.

[ode]

So you guys have to pay taxes from poker winnings and government doesn´t even pay your hospital bills?

Sad [img]/images/graemlins/frown.gif[/img]

Hey Zeebo, suppose you are running a single zero roulette wheel (+EV for you) and a rich guy wants to make one and only one bet on lucky number 7.

If you don't know, this pays 35-1, but the odds for him to hit are 36-1. How large a bet do you accept?

This is an attempt to quantify how much risk you can handle

[RollaJ]

Just a couple of random thoughts that will prove you NEED health insurance.

"40k" will cover most events"
In April 6 months after turning "pro" I was hospitalized for 5 days....... 5 day total $26,000, no surgery required. Just some blood tests, some meds, and a bed. (I had never been in a hospital before)

While my bills came out to $26,000 the insurance company paid around $8,000 due to their leverage and deal made with "in network hospital".

One of the monthly meds I am on is $220, my copay is $35. Another med is $24, my copay is $1.40.

You never know when something is going to go wrong, you dont get insurance because you expect something to go wrong, you get it in case. If its too expensive, consider cancelling fire and theft on your car before you cancel health.


Or in terms that some here may better understand:

<u>Insurance </u>
Blackjack= -EV
Poker (running it 3 times)= neutral EV
Health = +EV

Health insurance is only +EV for people who have something to lose. When you've got nothing, you've got nothing to lose.

If you're poor in the US and become sick or injured, you go to an emergency room and they are forced to treat you whether you have any money or not. You run up $5000 or $50,000 in medical bills, then you declare bankruptcy later on. This ruins your credit, but if you were poor, you didn't care about your credit anyway.

And it's not as if it's really a choice, if you're poor enough you couldn't afford medical insurance anyway.

[Indiana]

That's right ode, our government doesnt wipe our asses like yours does. That's why wealthy scandanavians come here for health care.

Indy