is health insurence a waste of money?

[bobbygedd]

i'm sitting here, doing a little math. last year i was employed, and had to contribute half to my health care. this year, i'm paying my own. the total spent between last year and this year, is $7500. sure, we had a few minor trips to the doctor, a few prescriptions, but i think that if i paid those out of pocket, i'd be ahead by about $7000. so, barring a major emergency, what's the point in having coverage?

[specialtylc]

Health insurance IS A WASTE of money if you are healthy. But its worth alot when you have a major illness. Same as your business insurance .

[timinkc]

are you single?
either way, you should know that a minor healthcare problem can become very expensive very quickly!
i personaly would never go with out it...to much of a risk.

[lawnman_scott]

What about something that just covers major things? At least it wont barkrupt you. Just to protect your money, house and business.

[xcopterdoc]

Well.. I guess thats why they call it "Insurance". Both you and the carrier hope you never have to use it, but if yo udo use it, you are covered. My wife is a certified medical insurance billing person. If a medical place is a provider for XX insurance company, they will only get paid a set amount per services provided. The rest is written off. But if you walk in without insurance, you will be billed or have to pay up front, the full amount. And if you get seriously hurt, it can add up quick!

[bobbygedd]

scott, does such coverage exsist? cus i'm tellin u the truth, i actually considered dropping it for a few months, it went up to $980, on march first

[timinkc]

look into "major medical" insurance

[Tharrell]

Isn't it deductable?

[lawnwizards]

aetna has a catastrophe plan that only covers if you get above a certain figure. its real cheap. my wife's company offered it. i think it would be good if you are a healthy person.

[Kelly's Landscaping]

They wouldn't stay in business if people used it yes many do but most don't and they know for a fact you will not need it based on their charts.

Is it a rip off at age 33 for myself it is no way I will buy it when I am around 50 then perhaps major medical only. But ill happily pay and small medical fees out of pocket. Its like dental insurance the costs are nearly as much if not more then you would spend in a year if you had several fillings no thank you ill pay my own way. Two years ago I spent 1600 on dental it was the first time I spent anything in 5 years or more I don't need a degree to see that 300 or so a year is a hell of a lot less then I would be paying to have the insurance.

Health insurance is the same way I may have spent 500 dollars in the last 15 years on doctor fees.

[twins_lawn_care]

It is a not even a question in my case, with myself, wife, and 2 - 19 month old boys, I could not afford if something went wrong.
Maybe what you can look into Bobby is getting a plan with a very large deductible. This is usually how you can lower your rates for any kind of insurance. Basically for the fact you mentioned, that you wouldn't use it, unless it was a huge amount of bills.
the thing is, you are deciding to take a chance. nothing wrong with it, but as with anything in life, if you know you are taking a chance on something, you had better be ready for both options to happen. So what you could do, is start savings in a "health care" account, until you have enough money where you feel comfortable, and then drop your insurance. But remember, Murphy's law is around the corner, and the day you drop it, is the day someone rearends you, drives off, and leaves you with $100,000 in medical bills!
It seems hard to justify now, as you are not using it, but what you are actually paying for at this point, is peace of mind, in case anything did happen.

[lawnwizards]

or twins, say if you do get insurance with a high deductible. say 1000. why not save up 1000 dollars and keep it in the bank and then if you do get hurt you have the 1000 dollar deductible then the rest would be paid for. just a thought.

[specialtylc]

BOBBY. Do you have car insurance? business insurance?
At least buy yourself a life insurance policy for your wife and kids.

[sgrprincees]

My dad was riding his mountain bike on a reasonably flat trail when he went over the handlebars and broke his neck. He spent a couple weeks in the hospital (he was in twice, first to recover, then for surgery.) Insurance has covered at least $20000 in costs. The neck brace he wore for a couple weeks cost over $1000. He could have survived without insurance, but without the surgery he would be a hunchback.

[lawnman_scott]

Yes. Ask any agent about major medical coverage. Just covers the big stuff, not everyday doctor visits.

[mmacsek]

Bobby,
I don't have "conventional" health insurance either. We pay doctors visits and prescription out of pocket. Our insurance covers catastrophes but does have a $2500.00 deductible. Those are the ones that will break you. Our business is our only income.(4 years full time) I am married and have 2 children ages 10 and 7. We are healthy and don't take any maintenance drugs. We don't have maternity benefits because we are done. We pay 302.02 per month. It is with Golden Rule Insurance and is with the Devon medical group. Hope this helps and if you need more info PM or email me. Matt

[deere mowers]

Like the old saying "Cant afford to be without it or cant afford to be with it" My wife and one of our kids was in a serious car accident 4 years ago, you would $hit your pants if you seen the bills. From the ambulance to the helicopter ride to the doctors to the hospital, to the meds ...........on and on and on. We were very fortunate to have had the coverage that we had. just my thoughts.............been there done that

[alpine692003]

Damn, good thing I'm in Canada.. My medical service plan is like $40 a month.. that gets me everything from being diagnosed with a cold to getting brain surgery.

[lawnman_scott]

Originally posted by alpine692003
Damn, good thing I'm in Canada.. My medical service plan is like $40 a month.. that gets me everything from being diagnosed with a cold to getting brain surgery. to dying waiting for them to perform the brain surgery?

[Mdirrigation]

My old roomate was in an accident , he was driving a 18 wheeler and was hit head on by a box truck, it was not his fault, he let his health insurance drop. He hasnt worked for 9 months and is still having problems, He is 38 , his medical bills are in excess of
$ 200,000. ( yes two hundred thousand ) He ran out of money last month since he is still hurt pretty bad, his lawsuit is 2 years off. All I can say is health insurance is the first bill to be paid , then the mortage. Accidents happen , he didnt get up that morning and plan to have a head on collission , BUY HEALTH INSURANCE

[bobbygedd]

alpine don't you mean rectal surgery? well, let's see, i have commercial insurence on two trucks, regular insurence on my wifes car, liability insurence for the business, homeowners insurence, life insurence for me and the wife.health insurence. i about had it with insurence, i thought gambling was a bad habit?

[desertrat]

I have a wife and 3 kids, and no health insurance. I have had many insurance plans over the years, and they fight every claim. It seems that they do everything they can to not pay. I am getting a catastrophe plan, but as far as regular bills, I pay cash. 6 months ago, i severely dislocated my finger while chasing my dog around the park. I was going to be a tough guy and put it back in place, but my wife freaked out and we went to the doctor. When we went to pay the receptionist said the bill was $1400 and asked for our insurance card. We said we didn't have insurance and she said "Oh, then wait, the total is $1000." We gave her $100 and told her to bill us. We made a deal with them and only paid $700 total and it is deductable. Every time i go the doctor I try to make a cash deal. You would be suprised how willing they are to make a deal when you offer cash. i know that if I get a brain tumor I am screwed, but major medical would cover that, and at the end of the year, I save loads of money.

[justmjc]

Your ability to earn an income is the greatest asset you will ever have in this lifetime. Take that away, and physical death may be something you look forward to. The only thing worse than death itself, is financial death and devastation. Get the coverage, don't joke around with your ability to earn a living for yourself, or your family. All it takes is 1 time to put you under completely, or behind so far, you may never recover financially.

[leadarrows]

One think I think about is even with health insurance if I ever get hurt or so sick I can't work I'll still lose my clients. They can't wait for me to get well. Having the medical bills paid is only part of the story. :(

[Florida 5 Star]

Speak to some of your chambers of commerce they might assist you in obtaining group rates on insurance. Or speak to united health care they allow small business to form or join a co-op to get reduced rates

[celltech]

Man this subject is some thing that I have thought about alot. I have a full time job besides the part time lawn care I want to get into. I my regular job I pay 150 a payday, 300 a month. My company picks up about 65% of the total bill a month (about 850). There is no way I pay out 3600 a year in medical. Medical and dental for that matter. But I decided to keep the insurance through my company because of those "what if's" but at least once a month a change my mind ong the subject. Last year I actually came out ahead, my oldest daughter was hospitalized for a severe kidney infection. Toatal hospitl bill was around 5,500. With my insurance I only had to pay 250 (I think). So I, in effect, made out for 1650 for THAT year. But we(wife and 2 daughters) typically don't even go to the doctors office 5 time a year (totatl).BUT BUT BUT I know the second I drop the insurance, there will be a major car accident or something else stupid.
So I keep paying "JUST INCASE" something happens.

[GrassFearsMe]

My uncle has worked in landscaping for 30+ years and has never had problem till this year. For the past 10 years or so he has kept up his health insrance and was thinking of getting rid of it till he had a surprise major medical problem(otherwise considered himself healthy). When he got the bill form the hospital it was over 30K, b/c of his health insurance he paid $500. 30K would have hit him hard especially during the winter. Have Health Insurance.

[bobbygedd]

yea grass, but it's all timing. in 10 years, at my rates, i will have paid $117,600.now, if i banked it instead, the $30 grand would be a drop in the hat. so, i got off the phone with guy, he says in new jersey, you cannot have only hospitalization. no one will provide it. so, i guess i'm screwed.

[CRM Lawncare]

I have close friend who dropped his insurance and he was loving it for a few years until the cancer hit and the two year fight with it. He passed away and spent $500,000 along the way. His life ins. didn't cover the medical costs and his wife lost their house and had to file bankruptcy. The money each month is worth it to me not to leave my family in that kind of shape if anything happens to me.

Just my opinion.

Charlie
CRM Lawncare

[mtdman]

For me, the insurance question is more about major medical problems, not about the piddly doctor's visits. I am in general a pretty healthy guy. What if I have to go to the hospital tomorrow and rack up a huge bill? I can't afford to pay for that. You never know what's going to happen, and it pays to have your ass covered. Otherwise all I've worked for can disappear in an instance.

[justmjc]

You can purchase key man insurance as well. You may lose your customers if you are injured, but, at least you would have health and income coverage. Key man insurances pays you if you are the main component, that makes the business run. Without you, it wouldn't, thus you'd get paid if you were unable to work.

[alpine692003]

Ya ... unfortunately our medical bill is very cheap like dirt cheap, to other people in Canada they know..

Our MSP is like $40 a month.

If I lived in the states and had to get medical, I'd go broke :(

[Bigfoot]

It is a shame the U.S. does not have at least a national major medical coverage plan. Health insurance and the lack of health insurance, is destroying many small business owners. :angry:

[rookiemower]

reading this post makes me sick and angry, everytime i think about the major insurance companies screwing everyone it pisses me off. i have thought about this before, what happens to all the small business owners as insurance costs continue to sky rocket, it's sickining, the canadian goverment system is nice except for the unreal taxes they pay for that privilage. It seems as if insurance is becoming out of reach for the small guy:mad: :mad: :blob2: :cry:

[hole in one lco]

We are all business men so we need to invest our money there are a lot of ways that are guaranteed.

I have already paid for my casket and burial plot. I'm only 27 but why should some one els have to pay.

We all need to do more with our money then just spend it.

[alpine692003]

Yes, our canadian govt love taxes..

We pay 14.5% tax for goods . and on top of that we pay

17% 0-30k
22% 30-40k
27% 40-60k
33-40% 60k+

I'm just giving a rough figure, but you guys get the picture!

[rookiemower]

all i can say is OUCH on the taxs

[alpine692003]

Yes, ouch on taxes but at least our medical expense is cheap lol

[bobbygedd]

talked to a company here that is kind of like a middleman . he talks to you about what you need, what youre looking for, and then tells you your options(what companies are available, prices, etc.) he said there IS NO "JUST HOSPITALIZATION" coverage. i have to an hmo, the cheapest he can find is $775 a month.

[alpine692003]

damn ..lol

Muahah!

[PetalsandPines]

And still after all those taxes, WE STILL have to protect your butts in wars!!! That Canoe and Horse just ain't cuttin it anymore :)

[missytheaccountant]

Well I personally believe insurance is a ripoff but you can't stand to be without it....by the way....Bobby, I heard you love feet.

[promower]

I went with the catastrophic health ins. plan. $40 a month the only thing is my deductible is $4,000. So I'm covered in case of a bad accident or illness, amd minor visits I will have to pay myself.

[MLI]

Not having health Ins is SUCH a GAMBLE! I was in the same frame of mind as you folks.....ahhhhhhhhh why spend all that $$ on something I'll never use....I can put that $$ towards a vacation home or something. Well let me give you some personal experience. When I got married my wife carried the health Ins. we were gonna have a baby, so I figured hey I'll just get the health ins through my business(I needed the writeoff anyhow). The plan I have is $940 per month(no dental) for a family. Everything is going as planned....I had made 2-3 payments on this new policy....my wife was due anyday. The birth of my daughter was amazing(my first) She was beautiful, playful, never cried etc etc. As the months went on people would notice that this baby was very quiet for typical newborn, always seemed to be in good mood(not a bad thing right?) As more time passed we began to notice that she wasnt progressing physically like most children and still wasnt crying. My wife works with early child intervention and suspected something was wrong. We took her to Childrens Hospital for testing....long story short...my baby was diagnosed with whats called Angelmans symdrome its very rare.(like 5000cases in all North America. My daughter will need physical....speech theropist for the rest of her life....just as we got use to this news....turned out the baby wasnt putting on enough weight.(more test) Come to findout she had whats called a PDA meaning there was a valve in her heart that didnt close at birth(unrelated to her symdrome)and that to much blood was being pumped with her little heart than was necessary causing the heart to swell, and burn calories to quickly. Next thing we know where back in the hospital for heart surgery!!! MIND YOU THIS WAS WHILE MY WORK SEASON WAS IN FULL GEAR!!
Now for the good news...Molly is 17 months old now and doing well. The heart is taken care of.....the Angelmans will be a battle for life....as you can imagine the cost of all this is through the roof and then some. THANK GOD FOR HEATH INS....youll always whine, ***** , and moan till one day YOU are the one that needs it. Pray to GOD you have it ...when something unexpected happens to you or your family. Something like this situation could destroy your financial life for ever! She's here today, and doing well BECAUSE I had health Ins, with it, she got the best that our modern medical society can provide!

[bobbygedd]

yes missy, i love feet. do you have any? if you do, can i see them?

[missytheaccountant]

well the last i checked i had two.....but not sure i should share such a valuable possession??

[bobbygedd]

mli, thang god your daughter is doing well, this is great news. missy....those feet, are they big?

[newleaflandscape]

John Alden has some pretty good plans. They run about a hundred and twenty bucks a month and covers all major medical and doctors visits and prescripitons, but the copays are high. Like thirty bucks for doctors twenty for prescriptions, two hundred for major medical. If I were you I would look into them, AFLAC or NASE ( national association of self employed) Start hitting the phone books you would be suprised what you could come up with.

[missytheaccountant]

How big is too big as far as feet go Bobby??

[gwwilson]

join your local
chamber of commerce............. great rates

[bobbygedd]

well, for a female, i'm afraid 8 and a half is about as far as i can go, anything bigger, u can probly walk on water. and i prefer feet without hair on them. do you own such a pair?

[missytheaccountant]

Well unfortunately I'm not like God, I can't walk on water. But I am out of your league....I wear a size 9 1/2.....however, I don't have any hair except on my big toe but I keep those two hairs shaved off.

[bobbygedd]

ok, well, it's your lucky day. you see, in new jersey, every sunday in march, is big feet day, so, you're in! a few hairs on your big toe? no big deal, my mother in law has hair on the bottom of her feet.

[FarrisFrog]

FYI----most bankrupties are filed due to medical bills. One accident w/o health insurance--not worth it!!! Not in our business!

Get catastrophic coverage at least. Have some kind of Stop Loss even if it is $10,000. Look into and HSA.

FYI--my wife is and insurance agent--:D

[FarrisFrog]

Who said to buy NASE!!! NO NO NO---Don't waste your money!

[gr8cutter]

Do not buy any insurance if you are not going to get sick. If you are going to get sick then buy the insurance!

This is what we call a clue in law enforcement.

[The C Man]

If any of you live near a UPS facility you could look into getting a part-time job there. You'll be bored out of your minds but they have a great health benefits package.

[Birddog Lawncare]

I know this is the exception for most cases. But I knew someone's wife that had a baby. Seemed like everything would be OK. THere was complications during the delivery, and the daughter is now seven years old and his insurance stopped paying because they reached the lifetime max of $1 million.

I know this is the exception but that's why they call it insurance. Can anyone on this site afford to pay out $1 mil in seven years?

[boonhogganbeck]

I've linked this a couple of times, but here goes again. You can always get a plan with a high deductible if you don't go to the doctor very often or are young and healthy. What you really want is coverage that takes care of you if something major happens (car accident, falling out of a tree, sliding under a lawnmower, etc). It's pennywise and poundfoolish not to have health insurance, especially in the green industry were there are some inherent occupational hazards.

http://www.healthinsurance.org/

"Boon"