Hey Bulldogs! My wife works for one of the biggest law firms in the US. Join the conversation, you are commenting as, news.com.au — Australia’s leading news site, ‘A dud’: Aussies reject $2k waste of money. We have paid the $50 application fee TWICE and were told we would get forms and they screwed up and wanted us to pay the first month's share for 3 people. Health insurance for my family cost nearly as much as rent and doesn't cover much of anything that I've needed it to. He told me there were two clear benefits of private health, especially having the “choice of doctor”, although he warned the public “don’t necessarily have good information about doctors” at their disposal anyway. I should be able to rely on the effing company that is collecting my dollars and providing me a product based on taking care of me - TO AT LEAST TAKE CARE OF THINGS WHEN I FOLLOW THEIR RULES AND SEE THEIR DOCTORS AND LOCATIONS. I have "good" health insurance according to American standards. These find­ings are some­what ironic in light of obser­va­tions that poor sick patients who are unable to afford health insur­ance pay the high­est prices for drugs (e.g., Frank 2001). This field is required. My insurance company claimed to have saved me over $20k. So when people say even universal healthcare isn't free are they taking into account that it's much easier to pay cents per paycheque, rather than an individual paying hundreds of dollars a month for it? In your case, that would be over $10k savings. But even if you are one of the unlucky young people who do land in hospital, it will probably be the result of an accident — and in an emergency situation, you’ll be taken to the closest public hospital in the overwhelming majority of cases anyway. When my 31st birthday was looming, I was bombarded with targeted ads warning that my life would be all but ruined if I didn’t take out private health insurance — pronto. ZERO cost to me. Is that worth it to you? I'm on an HMO that is even further narrowed to a kind of "preferred partner" plan. Add in car insurance and I pay more for insurance than I do for rent. LTC insurance used to be much better than it is now. By using our Services or clicking I agree, you agree to our use of cookies. ... yes, I think they are mostly a ripoff. And even that? But I’d rather keep my cash in the bank and use it when I actually use it — and it seems more and more Aussies are agreeing with me. We are gambling that something really, really bad ans expensive happens and if it does not we are supporting bloated corporate insurance companies. COBRA is not an insurance company. I am on the absolutely cheapest, most limited, plan. If you reached out for help, don’t … What should that tell you? New comments cannot be posted and votes cannot be cast, Press J to jump to the feed. $300 dollars to get someone to have a look at your burn to determine if it needs actual medical treatment..... GTFO. Post Reply. Health Insurance is incredibly frustrating. Insurance companies in America aren't exactly beloved, in large part due to a reputation for perceived stinginess when it comes to healthcare costs. In your case, you would have saved $5k. I was paying $551 a month for catastrophic insurance for my wife and me. I work for a company that gives us choices among probably 3 or 4 plan levels. But it was just stitches be careful of your cracked bones. Costs me $150 per month. X. In the health domain, poor patients are unable to afford insur­ance in a cat­e­gory where it is salu­bri­ous to buy it, but they opt for insur­ance in an area where the invest­ment is inex­pe­di­ent. Sign up, Join the conversation, you are commenting as Logout. It is a total waste of money unless something really bad happens. Also, Ran has stated that pa Maybe one day you can get with an agency that provides better benefits. J. joycews Jun 2013. Update 3: $3332 returned! The second benefit came down to amenities like private rooms and food — although most public hospitals now have a “fairly high proportion” of single rooms — and the reduction in waiting times. That’s it. And I had a curveball med issue a few years ago that was covered for copays on visits and meds for me. I'm super super lucky and I know and recognize that, but it's also terrifying to me that I'm lucky in watching what I pay double nearly every single year and my income does not. Health Insurance Ripoffs. Of course, there are clear and obvious benefits of health insurance — you’re better able to choose your doctor for one, and you’ll also receive non-urgent treatment faster and at a more convenient time. And there are plenty of doctors who do this thing called 'bulk billing' where I walk out with having paid a cent. My wife got a job at a school. It was all worry things could be worse. Not sure where you're located, perhaps a state job could help you get cheaper benefits. Don't get me wrong, Insurance companies, be it car and home, life, health, they can be assholes for sure- but none of them would have gotten very far without paying … I gamble I will get really expensively ill or injured and they gamble I won't. Am I supposed to spend every 30 seconds at any doctor visit demanding to know if this next 10 minutes is for sure covered by my insurance? John Sonmez from Bulldog Mindset Here, where I teach you how to go from the Victim Mindset to the Bulldog Mindset. In other words, if it smells too good to be true, it probably is. It does sound scary, and it did make me stop and think — before I decided it was all a giant con. That means you’ll be coughing up for a service you probably won’t be using — so you’re essentially subsidising other, older people. Is that worth it for you? It is total bullshit and frustrates the hell out of me especially since I have to renew the insurance and the rates are going up again. Many Americans, according to various polls, blame Obamacare for every hike in premiums despite the fact that the rate of increase for most folks was actually greater before 2010, the year the law went into effect. Don't insurances have an interest in massively inflated prices for medical services? I have had to alter my life and skimp on certain bills to maintain it. For example, a person with a taxable income of $110,000 would pay a $1375 surcharge, which is about $125 less than the average cost of basic private health insurance. But a lot of people also don’t realise that even if you do have health insurance, it doesn’t mean 100 per cent of your medical costs will be covered — and as a result, many people end up shocked by the “gap” between their cover and their medical fees. Health Insurance is incredibly frustrating. Health insurance plans can vary greatly in cost based on factors such as your health, your geographic region, the amount of your deductible, and co-pay requirements. Nothing is free but there is a huge difference. It tells you that you need to drop your insurance. Sad that health comes down to dollar figures. I pay close to $300 a month for insurance that covers almost nothing until I meet the $6600 deductible. Health insurance is complicated, and so is the situation we find ourselves in when an unexpected health crisis occurs. I also only get taxed around 11% in paychecks, you just have to have the bigger picture in mind. Health care in the US is a huge scam. The loss of a car or a house can feel devastating, and deciding how and if they should be replaced can be difficult. The company paid it. And that cost me $15k. In a nutshell, if you don’t sign up for private health cover from the year you turn 31, you’ll be slugged with a 2 per cent LHC loading on top of your premium for every year you are aged over 30, if and when you finally do sign up. The same goes for serious illnesses — if you’re diagnosed with one, you’re still going to be treated, whether you have private cover or not. Is Auto Insurance a ripoff? Private health insurance is in a death spiral because it is a massive, massive ripoff This article is more than 1 year old. This is a bit of a bubble burster for your ELI5 but a lot of these stories tend to omit a lot of fine details. Nurses, Doctors and Surgeons Employed by the Insurance Companies Who Have Never Seen or Examined Patients, Denying Patients Treatment & Surgeries Based Solely on Reading Reports and Arbitrary Insurance Guidelines. It had a $13,500 deductible, 2 primary care visits each for a $60 co-pay, and a physical included for each of us. I've paid maybe $300 total my whole life for any kind of insurance except car. I fell down once and got a moderate injury -- medicine couldn't help my tiny fractures, and got stitches to prevent a bad scar on my chin. Consumers thought they were buying comprehensive health insurance for as much as $500 a month, but the plans didn't deliver any of the promised benefits. All times AEDT (GMT +11). This! It also covers some services that Medicare doesn’t, like basic dental and optometry. Because I didn't have insurance. Health insurance never pays 100% of what is charged and to have a contract with them they provide a fee schedule of what they will pay for and how much. 07/29/2017 22:41:22. For those looking to purchase LTC insurance, you may not be eligible if you have health … And health insurance is fundamentally different from any other insurance. Which has never been over $70 a month. Yes, I am responsible for making sure I'm using my plan responsibly, but within reason. LUDICROUS. Your first dip into the policy selection process can be pretty overwhelming, so this guide will help lay everything out for you as plainly as possible to get you on your way. 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