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Ever since Obama's mandatory healthcare, I've been wondering if paying insurance is worth it for a young person. My current policy is a high deductible policy, with a cheap rate, and I like this sort of policy since I am healthy and saving for the high deductible is easier for me than paying a high premium and not using the health care services...
...But it looks like my choice could be going away due to the health care law, and I was wondering what sort of policy makes financial sense for a young person, and who to vote for to get lower health care costs....
I tend to think having good health insurance is MORE important for a young person because you are less likely to have the savings to deal with a health crisis.
In my own experience, I was diagnosed with Stage IV cancer a month after my 23rd birthday. Insurance has covered most things, but it's still been financially devastating because I was was 4 months into my first job. I've lost all of my savings and only just finished paying off my credit card debt 2 years later - but still have many medical bills both from the initial treatment and ongoing that I will be paying for years.
If I had a high deductible plan, I would max out that plan at least 5 years in a row because just one scan more than satisfies the deductible. For instance, had I been on the health insurance my parents have now (they were uninsured at the time of my diagnosis), I would already be out over $50,000 just in medical bills, plus hundreds a month in medications. That's more than I net in a year.
What makes the most sense would be to support politicians who advocate getting rid of the middleman (insurance companies) and going to a single payer system. We pay significantly more for healthcare that is only marginally better at best (and in my case, I would have gotten significantly better care in the UK or Canada because my insurance DENIED the most effective treatment) and it's a damned shame. Dealing with the insurance companies adds significantly to our healthcare costs.
For instance, my oncologist's office is a fairly small practice (4 oncologists) associated with a hospital. Despite having just 4 oncologists on staff, there is a staff of about 6 people whose job it is just to deal with oncology billing and the insurance companies. I have no doubt that's a large part why just 15 minutes with my oncologist costs over $600 - not counting the further costs for bloodwork, port cleaning, etc. I know for a fact that the billing person assigned to my case has wasted hours arguing with my insurance company about why certain things are medically necessary or to help get mistakes fixed. It's a huge waste.
Note: I was healthy at the time of diagnosis - my only symptoms were fatigue (which I thought was normal for someone with my "busy" level) and the swollen lymph node that sent me to the hospital. My only family history of cancer were two great aunts who had entirely different types of cancer when they were elderly. Healthy now does not mean you won't wake up tomorrow with cancer, MS, or be hit by a car.
Ever since Obama's mandatory healthcare, I've been wondering if paying insurance is worth it for a young person. My current policy is a high deductible policy, with a cheap rate, and I like this sort of policy since I am healthy and saving for the high deductible is easier for me than paying a high premium and not using the health care services...
...But it looks like my choice could be going away due to the health care law, and I was wondering what sort of policy makes financial sense for a young person, and who to vote for to get lower health care costs....
Most young people who voted for the Democrats and Obama have no clue what their actual health care costs will be.
The Dems have created class warfare. Yet they they fail to explain the young that if they aren't on their family plans; if they aren't on an employer plan; If they don't meet those 2 conditions. Which basically means almost every young small business person ages 26-35.
Those young people who want to better themselves end up getting screwed.
Let's see, age 26 year old male opening up his own business. Makes 40K AGI as a single person. Not rich by any means.
Old insurance High deductible $2500 with premiums around $100/month (everything after $2500 is paid for 100%).
New insurance plans (covers preventive maintenance) $2500 with now cost over $300 a month (just look at the newly released Vermont plans for 2014).
So the ACA basically tripled that 26 year old's health premiums.
The Dems assume too much with this ACA. They say, "don't worry" "you get a subsidy" or "you are covered under your parent's plans".
Well what about the small business person who makes more than 400% of poverty. They get nothing. And it ends up costing them 300% more than it does last year.
What if a young woman has had a hysterectomy at age 30 already. The ACA still requires that same small business 30 year woman to carry maternity coverage.
Too much government control and not enough flexiblity.
Dems always compare mandating health insurance to mandating car insurance and want "comprehensive coverage"
Yet almost all states DO NOT REQUIRE comprehensive car insurance. It's a joke. People get the bare minimal car insurance yet their deductibles are still $1000 which isn't much more than $2500.
well, at 3600 a year on health, I better get a damn subsidy, or the economy better improve so that the uninsured could get insurance so people don't have to subsidize for them.
well, at 3600 a year on health, I better get a damn subsidy, or the economy better improve so that the uninsured could get insurance so people don't have to subsidize for them.
And that my friend is why the ACA will end up trillions over budget.
People will demand subsidies (costing billions and trillions).
If you make more than 400% of poverty (around $40K for single person) and you don't have your parent's plan or an employer's plan to fall back on: You will end up paying through the nose. Because government will tell you, "tough luck" "you can afford it" "suck it up" "pay it" Or pay the tax to not carry insurance.
And that my friend is why the ACA will end up trillions over budget.
People will demand subsidies (costing billions and trillions).
If you make more than 400% of poverty (around $40K for single person) and you don't have your parent's plan or an employer's plan to fall back on: You will end up paying through the nose. Because government will tell you, "tough luck" "you can afford it" "suck it up" "pay it" Or pay the tax to not carry insurance.
I've read all of your posts on this thread, and commend you for telling it like it is in this quagmire which the anointed one and his agenda has forced upon all of us. Physicians and surgeons, and patients, do not deserve what is coming down the road under this administration. It's daunting.
Ever since Obama's mandatory healthcare, I've been wondering if paying insurance is worth it for a young person. My current policy is a high deductible policy, with a cheap rate, and I like this sort of policy since I am healthy and saving for the high deductible is easier for me than paying a high premium and not using the health care services...
...But it looks like my choice could be going away due to the health care law, and I was wondering what sort of policy makes financial sense for a young person, and who to vote for to get lower health care costs....
The people that will get the most benefit from the ACA is those age 10 and below. By the time they have significant HC needs, all Americans will have access to it and all Americans will be paying for that care automatically.
Ever since Obama's mandatory healthcare, I've been wondering if paying insurance is worth it for a young person. My current policy is a high deductible policy, with a cheap rate, and I like this sort of policy since I am healthy and saving for the high deductible is easier for me than paying a high premium and not using the health care services...
...But it looks like my choice could be going away due to the health care law, and I was wondering what sort of policy makes financial sense for a young person, and who to vote for to get lower health care costs....
When I was a kid I never had health insurance. Probably till I got out of college and got my first good job around 24 or so I'd say. Save a lot more money paying the fine the first couple years. What many don't understand is if you say break your leg or something and have to go to the hospital and don't have insurance you can work out a payment plan with em.
Ever since Obama's mandatory healthcare, I've been wondering if paying insurance is worth it for a young person. My current policy is a high deductible policy, with a cheap rate, and I like this sort of policy since I am healthy and saving for the high deductible is easier for me than paying a high premium and not using the health care services...
...But it looks like my choice could be going away due to the health care law, and I was wondering what sort of policy makes financial sense for a young person, and who to vote for to get lower health care costs....
After all as nancy said we had to pass it to know what is in it. We are slowly finding out
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