Health Insurance?

7 Comments

1. nrving says:

   September 16, 2009 at 2:54 pm

   The purpose of any type of insurance is to protect against catastrophic loss. Using health insurance as an example, most everyday medical expenses are not very expensive (a physical exam averages $150.00+/-), but if you are admitted to the hospital for an emergency your medical bills would be in the tens of thousands of dollars at a minimum. If you do not have insurance you "self-insure" againts that potential catastrophic loss. Without insurance, the average person would face financial ruin if faced with a major loss.
2. brian says:

   September 16, 2009 at 2:54 pm

   go for life insurance. i has everything
3. csucdartgirl says:

   September 16, 2009 at 2:54 pm

   Isn’t it obvious? It’s a potential to defer losses. If you pay for insurance and get very sick/hurt the insurance company will cover a percentage of the bills.

   Depending on the plan*, but usually the ratio that company pays versus what the insured is payed is about 80/20.

   So is it better to pay $300 a month in insurance premiums to deflect a big injury by 80/20 if one occurs or is it better to not have insurance and pay 100% if one occurs? You decide your risk tolerance.
4. cleesurrey says:

   September 16, 2009 at 2:54 pm

   Pretty simply – health care is more than extremely expensive. Just routine testing which should be done on a yearly basis is very necessary in preventative care and at the same time very expense without health care insurance coverage. I work in a Laboratory – and do the billing. It’s incredible! Even if you have a health care plan that requires such things as deductibles and co pays and employee contribution, it still is worth every penny when you are ill and need medical treatment. Of course there are a ton of variety of plans out there that cater to different needs. Therefore it is always wise to do your research if your employer gives you options in health care plans to choose from.
5. merrybodner says:

   September 16, 2009 at 2:54 pm

   Have you gone to the doctor lately? Would you have the money to pay the hospital if you were seriously injured in an accident? Or contracted a disease? Or got cancer?

   That’s why people buy health insurance: to protect themselves and their assets from medical costs. Did you know the most common cause of bankruptcy is medical bills?

   Ask your parents.
6. mbrcatz17 says:

   September 16, 2009 at 2:54 pm

   Because uninsured health costs are the #1 cause of bankruptcy in the US. If you ever want to own ANYTHING, like a house, or buy a car on credit, you’d best keep health insurance in place. A bad car accident could lay you up for 6 months and give you $250,000 in medical bills, in a minute.
7. zippythejessi says:

   September 16, 2009 at 2:54 pm

   Because the majority of bankruptcy filings are caused by medical bills. A simple hospital stay averages about $10,000 a day – and then there’s the bill for any tests done, and doctors who see you in the hospital. (Any doctor who walks into a hospital room can bill the patient.)