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

    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?
     
  2. desertrat

    desertrat LawnSite Member
    Posts: 86

    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.
     
  3. justmjc

    justmjc LawnSite Senior Member
    Posts: 261

    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.
     
  4. leadarrows

    leadarrows LawnSite Senior Member
    from N/A
    Posts: 925

    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. :(
     
  5. Florida 5 Star

    Florida 5 Star LawnSite Member
    from Florida
    Posts: 92

    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
     
  6. celltech

    celltech LawnSite Member
    Posts: 34

    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.
     
  7. GrassFearsMe

    GrassFearsMe LawnSite Senior Member
    Posts: 340

    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.
     
  8. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Posts: 10,178

    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.
     
  9. CRM Lawncare

    CRM Lawncare LawnSite Member
    Posts: 176

    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
     
  10. mtdman

    mtdman LawnSite Gold Member
    Posts: 3,137

    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.
     

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