Insurance - 9 Answers
Random Answers, Critics, Comments, Opinions :
1 :
No. You get sick or injured -- the cost of food and gas will be nothing compared to your medical bills. See if you can cut in other areas. Can you get a cell plan with less minutes that's cheaper? Can you downgrade your cable or satellite bill? Start clipping those coupons. Can you car pool to (work, school, practice etc) to save money? Keep a diary one month. Track every penny you spend. If you stop at the gas station to purchase a coke - document it. At the end of the month go over your diary. You will find there are areas where you are wasting money that you can eliminate.
2 :
No, we have insurance whether it's auto, health or home just in case something happens. Health insurance is very important. If you don't think you or your family will never become ill I say go for it. In all reality you should maintain some form of health insurance because without that its very slim that you'll receive any care. To help with you budget you can consider reducing the amount of insurance and readjusting your health coverage. Why would you want to save a few hundred dollars throughout the year and pay thousands for some freak accident down the line. The means do not out weigh the odds... Good luck. You may also consider cutting some misc.. spending as well.. Try off brand food and clothing for example
3 :
That would be the most foolish thing you could do.
4 :
It depends upon your family medical history and whether you feel lucky. I have medical insurance through work, but have never used it. I have never had dental insurance, but my only dental issue in 56 years has been a broken molar last year (a chunk of bone in ground meat), and that was something over $200 for the extraction (less than insurance cost for 30 some years). But about the time you drop your medical insurance is when you will be back here asking, "I have all these medical expenses, lost my job, and my credit is shot, what can I do?" Or "Can I buy medical insurance to cover pregnancy (or whatever pre-existing condition)?"
5 :
You should not cancel your health insurance because medical bills can bankrupt you. Nearly 50% of all bankruptcies are a result of medical bills. You can look into a higher deductible plan and a plan without doctor visits and prescriptions for a copay to lower your premium. Plans with doctor visits are a luxury because you are paying for the visit anyway with a higher premium. HSA plans are a good option. Be very wary of medical discount cards. They are not regulated by the Department of Insurance nor do the people that sell them need to be licensed. This means you have little recourse when you have problems with the plan. If you are tempted by the low price and claims of “save up to 80%†be aware that very few doctors actually take these cards. It does you little good if you have to drive 4 hours to find a doctor that will accept the card. Montana couldn’t find any doctors in the whole state that actually took the card and only one dentist who was on probation for unlawful activities so they banned the sale of the card and fined the company. See this link http://www.insurancejournal.com/news/west/2006/11/22/74554.htm for more information. Many other states are starting to ban these cards as well. Before signing up with any discount plan get a list of doctors. If they won’t give you a list consider it to be a scam. Call the doctors on the list to make sure they’re still taking the card (many don’t even know that they’re listed as a provider) and that they’re accepting new patients.
6 :
Cancelling health insurance isn't going to increase your INCOME - it's going to leave you uninsured. Uninsured medical costs are the #1 cause of bankruptcy in the United States. If you want to increase your INCOME, I'd suggest a second job. If you want to cut your expenses, the #1 expense that you can cut back on, is food - starting with eating out, then moving to cooking all from scratch - no prepared/premaid/premixed foods.
7 :
hmm you can switch your health insurance to little cheap plan ... here you can find cheapest plan http://tinyurl.com/5zmcsf
8 :
I definitely understand your frustration, you are not the only one who faces these type of decisions on a daily basis. I definitely don't recommend having no policy or program in place for "just in case". High deductible plans have been mentioned, another solution however is discounted health and dental programs. Those in conjuction with a health savings account can prove to be more cost effective than insurance ever has. I try my best to spread the word because we do have other choices besides traditional insurance. Many think they have "good insurance" because services are covered at 100%, yet they are paying for those "free" services in the high premiums every month! Not to say all insurance is bad, but if you're not knowledgeable regarding it, you can get ran over. Having a discount program allows you full control of what you pay, because you know exactly what its going to cost you. Its a big leap in whats being considered "consumer-driven" healthcare. You can take a look at our programs at www.mybenefitsplus.com/trhonda2000. Hope this helps, Trhonda
9 :
I can imagine a news reporter using your question as a starting point for a story on the challenges people are facing today. It’s a good question. It’s tough to answer, however. On the one hand, health insurance often seems intangible, especially if you don’t use your coverage very often. Food and gas, by contrast, are daily necessities for pretty much all of us. The trouble is that cancelling your coverage can leave you in a fragile position financially. A single unexpected injury or hospitalization can literally bankrupt you these days. I’m not sure if the statistic is still accurate, but I did read a study a few years ago that found that ‘unpaid medical bills’ was actually the leading cause of personal bankruptcy. So, paying out a modest amount monthly to maintain your coverage can give a valuable layer of financial protection - and peace of mind, which is certainly worth something even in today’s economy. But your point is well-taken: health insurance can be expensive. Are there more affordable options available to you? If you’re fairly young and healthy, you may actually have some good options to choose from. If you’re currently covered under an employer-plan and you have pre-existing medical conditions, you’ll probably want to stay put. But otherwise, take a look at what’s available by talking to a licensed agent in your area or visiting eHealthInsurance.com (where I work). You can get quotes from leading companies in your area and compare plan rates and benefits and apply for the one that best matches your needs. If your only other choice is to cancel your coverage entirely, perhaps you’re willing to pay a higher deductible, when/if the worst happens, in order to pay a lower premium month to month? Only you can really answer that, of course. But feel free to call one of our licensed agents for free assistance at 1-800-977-8860. Good luck! Amir M, licensed agent
10 :
no- that would be a very dangerous choice. good luck
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