savings by NOT HAVING health insurence

Discussion in 'General Industry Discussions' started by bobbygedd, Jan 25, 2006.

  1. MarcSmith

    MarcSmith LawnSite Fanatic
    Messages: 7,157

    This past summer, my daughter had an ear infection....Mis diagnosed bythe pediatritian as swimmers. but when her temp reached 104 to the ER we went.

    Ten days later we were able to go home. but the saga does not end. the infection came back we ened up at the hopsital again for sugery.

    She was IV antibiotic for 30 days,, home nurseing, and severl ofther fun chemicals.

    Out insurance company was sunk for just about 35K in expenses our out of pocket was 1-2K....

    You canbe the healthiest person alive, but you can never pick when something bad may happen....Your fualt or not....

    Do you have insurance on your car and your equipment? are your material posessions worth more than your health....I can replace my equipment, but I can't replace my health or that of my family...
  2. TPnTX

    TPnTX LawnSite Bronze Member
    Messages: 1,775

    Okay, I used my self taught speed reading technique so I may have missed a few things but I don't think this has been addressed.

    Bob, I am one of the unlucky ones that has had to use insurance many times. You apparently aren't. I haven't ran the numbers in terms of policy premium expense vs. claims paid but what I do know is that I was very glad to have it when I needed it. Then comes the wife, geez no brainer. She needs insurance.

    anyway 2 questions:
    1 What would you do should a catastorphic injury or illness occur to you or someone in your family. Whats you plan?

    2 what is up with you signature? do you have a small penus or something?

    PMLAWN LawnSite Gold Member
    Messages: 3,534

    With the proper coverage he could get that fixed:p

    PMLAWN LawnSite Gold Member
    Messages: 3,534

    This does bring up a very good point about a business plan and overhead.
    So many talk about never working for the "Man" again and the money they are making at LCO. But do they even add the cost of paying for health care.
    I asked about retirement in another thread and it got moved to this one so maybe that is why little response, but I got very little feedback on what people plan for in the future. The future is very uncertain. We can not plan all of it but we can insure to make it easier. I choose that route.

    Could it be that the "man" was not all that bad to work for??? At least you got a vacation and could get sick:p

    Bobby, With all sincerity, I am happy that your wife is doing well
  5. MarcSmith

    MarcSmith LawnSite Fanatic
    Messages: 7,157

    Gotta remember, now YOU are THE MAN....Take vacation when ever you want, so long as its the slow season....

    Look at the companies who are screwing up the pensions....make your own pension plan....Some tomes workingfor th eman isn't all its cracked up to be....

    This is all the stuff that needs to be factored in your bids. maye 2-3% of your bid is retirement money. and another 3-4% is health care...The key is to budget for it as a recuring expense like your equipment.

    its one of those transparent cost. you never see the benefits until you need it...
  6. Ric3077

    Ric3077 LawnSite Bronze Member
    Messages: 1,113

    Well, I am on the "I need Insurance side" and I was wondering if anyone knows any companies that offer good coverage for a decent premium? I am in the Saint Louis area...thanks!:blob1: :blob4: :blob1: :blob4: :blob1: :blob4: :blob1: :blob4:
  7. MarcSmith

    MarcSmith LawnSite Fanatic
    Messages: 7,157

    about 5 years ago I used Blue cross/blue shield. for me and my prego wife it was around 500 a month. for an 80/20 PPO and we were in florida. Its like shopping for a car you gotta shop around and it does not hurt to check out which doctors are in the plan...Talk to the peopl who youahve your car, home, business insurance...if they cannot help you directly, soetimes they partner with other companies to offer discounts and such....

    good luck
  8. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Messages: 10,178

    answer to #1- i will have no choice i imagine, other than to work out payment arrangements with the hospitol. i'm being optimistic though, and thinking...if nothing happens, i save big $$$$. answer to question #2- yes
  9. TPnTX

    TPnTX LawnSite Bronze Member
    Messages: 1,775

    well done. very disarming answers.

  10. daveintoledo

    daveintoledo LawnSite Silver Member
    Messages: 2,587

    got sick and hospitalized for one week.... cost me 40 thousand... that was the money i had to pay off school loans...

    im 43 and will NEVER regain the financial loss......

    im on the wifes insurance now....

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