is health insurence a waste of money?

Discussion in 'Business Operations' started by bobbygedd, Mar 18, 2004.

  1. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Posts: 10,178

    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?
     
  2. specialtylc

    specialtylc LawnSite Bronze Member
    Posts: 1,656

    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 .
     
  3. timinkc

    timinkc LawnSite Member
    Posts: 217

    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.
     
  4. lawnman_scott

    lawnman_scott LawnSite Fanatic
    Posts: 7,547

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

    xcopterdoc LawnSite Senior Member
    Posts: 752

    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!
     
  6. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Posts: 10,178

    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
     
  7. timinkc

    timinkc LawnSite Member
    Posts: 217

    look into "major medical" insurance
     
  8. Tharrell

    Tharrell LawnSite Silver Member
    Posts: 2,964

    Isn't it deductable?
     
  9. lawnwizards

    lawnwizards LawnSite Silver Member
    Posts: 2,434

    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.
     
  10. Kelly's Landscaping

    Kelly's Landscaping LawnSite Platinum Member
    Posts: 4,276

    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.
     

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