So I'm qualified for COBRA health insurance. I get the letter in the mail and for the low low price of $500/month I can have health insurance. This special rate is available to me for the next 2 years.
I have a question.
Since my catastrophic plan was only $120/month before I was employed, why on god's green Earth would I go with COBRA?
Seriously, I think if people just refused jacked up health insurance "offered" by their employers and said, "you know, just give me the cash instead," and then shopped around for catastrophic plans your little health insurance problem would go away.
But no, oh no. Nothing's "too good" for our little children. We need to flood the market with trillions of dollars to price everybody else out.
For people under 40 yes. They need all the young people in the pool to make the old peoples health insurance cheaper. Why am I subsidizing people who have 10 times the assets as me? Health insurance should be a pre-adi deduction or even a pre FICA deduction that individuals can take. It would make so much more sense than the crap system we have now
ReplyDeleteKinda what Scott said.
ReplyDeleteThere was a time when the employer buying your insurance for you made more sense, because then they could give you the benefit without it being counted for taxes. In this way (I know you know this, Cappy Capit, but I am speaking to everyone here) you could pay someone 50k per year and they'd only be taxed for 40k. Since there was more money and/or benefit coming into their pocket by not having to pay taxes on it, everyone benefitted.
However, how long do you think it can take for the gub-gub (nickname for government) to get greedy and try to tax something that everyone was doing? Not very long. Now a lot of benefits are taxed, yet people go on with "tradition" as though it still makes sense for the employer to pay benefits rather than letting the employee shop around.
I think the BEST solution is what Scott said, make it tax-deductible so that both the most competitive insurance company wins AND people don't get taxed on something so "important". Again, Scott's right, the younger people are just subsidizing older people's health insurance since the older people need it way more. Also, the healthy subsidize the health insurance of those whose behaviors put them at great risk of getting diseases, but the insurance company is not allowed (illegal) to make them pay more to compensate for higher risk, so you are subsidizing them too.
Basically, I would recommend just socking away some money for emergencies... seems a better deal unless you're one of the above mentioned subsidized groups. I KNOW younger people pay less for insurance, it is still made up for in spades, you aren't getting what you pay in.
I have been talking about essentially the same exact thing for ages. Treat your health insurance exactly like you treat your car insurance.
ReplyDeleteImagine what the premiums would be if you had the same level of coverage on your vehicle that people insist on for their "health?" If you do not expect your car insurance to pay for oil changes, why should you expect your health insurance to pay for contact lenses?
Eh, I pay that anyhow, every month. Thanks Romneycare! At least now, everyone else will have to do the same thing to that people who can afford it won't have to pay for their own abortions.
ReplyDeleteAgree with Scott, but don't forget the families: that is, women and children who use far, far more in health services than men. I never really priced it out when I was a company man, but I also pay less now for HD insurance that I paid then, and that was with the company picking up 2/3s of the bill.
ReplyDeleteWho was the catastrophic plan through? I'm paying over 500 for cobra
ReplyDeleteIf you have a "preexisting condition" like me, you need to keep your coverage. Otherwise, when you get in a plan with a new employer, your "preexisting condition" is not covered.
ReplyDeleteCOBRA is better if you have your own business, and can pay the premium pre-tax.
Unfortunately, many states have ridiculous mandates for what insurance must cover, and don't allow high deductible, catastrophic plans.
ReplyDeleteThat's fairly low. When I've left jobs in the past, or when I was fired in 2010, I've had COBRA policies that would have cost $1800-$2000. I threw the letters in the trash.
ReplyDeleteCuz your employer was paying he difference, and/or they got a group discount that you as an individual don't qualify for?
ReplyDeleteOf course, you old just pay cash, and have the doctor/hospital charge you $2000 for something private insurance pays $400 for (and Medicare pays $150, and illegals get for free thanks to EMTALA), which is entirely legal cost shifting thanks to our pals in DC and the innumerate f--king retards that voted for them..
My employer pays approx $500/mo. towards my plan. I pay the other $250. Otherwise I could take the cash at $140/mo. Doesn't seem right. Why can't I have the $500 they already pay and I buy a catastrophic policy on my own?
ReplyDeleteIf we didn't have prescription laws most people could take care of their own health without involving a doctor in every facet of health care. I pay $112 a year for blood pressure and cholesterol medication. Thanks to prescription laws you have to pay a doctor for "permission" (the prescription) to purchase drugs that aren't any more dangerous than common OTC meds. Without having health insurance you'll end up paying about $400 a year (office visits and lab tests) to get permission to purchase $112 worth of meds. Something is seriously wrong here.
ReplyDeleteGreat Post! It's very nice to read this info from someone that actually knows what they are talking about. Specialty Insurance
ReplyDeleteHealth insurance is not a step of idiocy.It is an activity which is taken by the people in the revolutionary manner to safeguard their future as well as their family from any increase rates of medical aids and health care services.
ReplyDeleteAlthough COBRA is the most convenient option if you have quit your job or have been fired, it can certainly be very expensive. However, if you have pre-existing conditions then opting for COBRA is likely to be cheaper than getting individual health insurance coverage.
ReplyDeleteNon-status people are not entitled to provincial health insurance. In general, non-status people have to pay out of pocket for medical service
ReplyDeletehealth insurance in SW
Nice passionate post, and a lot of good points. jacking up the prices just because people need the insurance.
ReplyDelete$500 per month? In my opinion, it's expensive. And you are protected of what?
ReplyDeletePersonally, I am insured by them: http://www.jclis.com and their prices are reasonable, Thank God, because I don't think that's normal to pay a huge monthly fee and if something happens, you are not covered for all the problems.