Let's talk about health, baby!

[ktulu]

I currently carry COBRA from my previous job (BCBS). It's $776/mo, but I still only pay what I did previously ($376/mo) for family coverage. Good thing about it that it pays 100% pregnancy coverage.

 

[jfusilloPE]

An HDHP is a High Deductible Health Plan. In essence, I pay a low monthly premium and add money into an interest bearing Health Savings Account.

I do not pay a co-pay when I go to the doctor's office, I pay an "established" fee to the provider from the money that I set aside in the savings account. Unfortunately, there is the "high deductible" part which I think is $5000, but all payouts (office visits, x-rays, prescriptions) go towards that deductible amount.

I was very much against these when they first came out, but, fortunately for me, my family is not "sickly" so it worked out well. Also, there are many things that are completely covered annually and I don't have to pay for them, such as annual ob visits for my wife and my daughters over the age of 16, well baby checks and immunizations for my 3 year old.

So, this plan actually worked out well for us this year, and I even declined vision and dental insurance because I can pay for those items out of my health savings account.

Once you meet your deductible, I believe the co-pays and 80/20 splits may take over, and if I decide to cancel my insurance, I get a refund (taxed) of the savings that is left there.

 

[MA_PE]

I believe that is the sad conclusion at the end of the day. Anyone who thinks that all of the major insurance providers, excuse me - managed health care professionals, will step to the side and take a bite in thier business is insane.
Ideally, I think universal health care is the right thing to do. I don't think the right political or moral climate exists in order to achieve a goal that retains the quality of healthcare and doesn't sink your pocketbook.

:2cents:

JR

"Universal" health care implies an equal level of treatment/care for all people regardless of status. It is my belief that the progress in the medical field is advancing at a rate comparable to all "technology" fields. To truly have "universal" health care implies that all individuals are entitlted to "state of the art" treatments for a given illness. The cost of state of the art treatments is by nature often much greater than the "typical" treatments. I don't think that society can bear the expense of offering this level of treatment to all. As a result, IMHO "universal" health care will result in a lesser quality for those of us contributing to the system as it improves the quality of the "welfare"-type sector of the population in order to force equilibrium.

It's like saying, "universal" TV. So everyone should have a "state of the art" 50 in. plasma screen, right? I doubt it. They'll take away your 50 in. plasma if your lucky enough to have one and handout 20 in. CRT's to everybody (especially those who don't have a set at all). The wealthy will simply go out and buy another 50 in. plasma (and feel a little pinch but not much), the middle class will not be able to afford a new plasma so they end up with the 20 in. CRT, and the lesser priviliged are better off because they started with nothing and now have a TV to watch.

This would not be good thing for middle-class America (of which I consider myself part) because they are the only losers.

I also agree wholeheartedly with IFR's rant on the legal system. How come a surgery can have a "80% chance of success" but according to the lawyers, thier client should not have been one of the 20% failures. If no failures are accepted then you need a 100% success rate???

/rant off.

 

[MA_PE]

my family is not "sickly" so it worked out well.

and I hope it continues that way forever.

My only reason for quoting this statement is; Isn't that what ALL insurance is about? You're only really ever underinsured, when you need to use it.

 

[udpolo15]

My only reason for quoting this statement is; Isn't that what ALL insurance is about? You're only really ever underinsured, when you need to use it.

Agreed, but I think people abuse health insurance. You don't buy auto insurance to pay for regular maintenance, you buy if for catastrophic stuff. People expect health insurance to cover everything, but they don't want to pay for it. People have become accustomed to holding out their insurance card and don't alway have a handled on the actual cost of service. That the reason for the emergence of the high deductible plans. They want people to start thinking about health care cost, but still provide coverage for the catastrophic event. I think these plans are going to replace the traditional health care plans in the near future. Every year my company lowers the employee contribution on the high deductible plans and raise the contribution on the traditional plans.

 

[MA_PE]

Agreed, but I think people abuse health insurance. You don't buy auto insurance to pay for regular maintenance, you buy if for catastrophic stuff. People expect health insurance to cover everything, but they don't want to pay for it. People have become accustomed to holding out their insurance card and don't alway have a handled on the actual cost of service. That the reason for the emergence of the high deductible plans. They want people to start thinking about health care cost, but still provide coverage for the catastrophic event. I think these plans are going to replace the traditional health care plans in the near future. Every year my company lowers the employee contribution on the high deductible plans and raise the contribution on the traditional plans.

"You don't buy auto insurance to pay for regular maintenance, you buy if for catastrophic stuff."

FWIW, this is a poor analogy. Here in MA the bulk of your auato insurance goers to cover damage you might cause to others. An extended warranty plan (also insurance) would cover vehicle maintenance and if you pay enough, it actually may include routine maintenance.

That being said, these HDHP's sound similar to our dental plan. The plan "covers" routine visits (twice a year cleanings and typical x-rays, etc.) but the premiums are established so that the total premiums paid total the cost of these items plus. Therefore, the insurance company expects to pay these and then "insures" or "bets" against any major work (root cnals, etc.) and the co-pay is proportional (ours is 50:50). The insurance company is getting interest on your premiums that it knows it will pay out and risks the remainder that you won't require major work.

Hypochondriacs end up paying more in the end.

Face it all insurance is a bet. for example look at a $500,000 life insurance policy with a $500/ annual premium. This is the same as betting the insurance company 1000:1 that the insured will not die this year. If he/she dies, you win.

 

[IlPadrino]

Uncle Sam Insurance:

Medical care for me, my wife, and son: $0.

Dental care for me: $0

Dental care for my wife and son: $18/month for prophylactic care and I think a 20% copay on restorations, etc.

Of course, they say you get what you pay for...

 

[C-Dog]

My company just came out with a high deductable plan and their regular plan. I went with the high deduct plan, because if we have a healthy year (no ER visits or hospitalizations) we will save over $2000! If we have a bad health year the 2 plans are about the same total cost (with in $100 or so).

The only thing that sucks with the high deduct. plan is that your payments come in lump sum, if you get seriously sick.