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Stop getting hosed by health insurance

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If you asked most people how they feel about health insurance, regardless if they are covered or not, regardless of their politics, no matter what their background, EVERYONE you ask will have the same answer, IT STINKS!! Of course there are many reasons people feel this way, but as someone who deals with it everyday I’ve narrowed it down to the most popular I hear:

  1. Cost too much
  2. Doesn’t cover enough for what I pay, so I don’t see the value in it
  3. I don’t like politicians telling me what I need and don’t need

No matter who the carrier is, no matter what area of the country, the above is usually the top 3 things I hear. I believe people feel this way because insurance companies, politicians, and providers have lied to them. If lied is too strong of a word for some, then let me way they have gave the wrong impression, or willingly allowed people to believe a misnomer about health insurance. Let explain what the big lies are.

  1. The premium paid each month is the only cost a person will have in covering their health and medical cost
  2. Everyone should carry as much coverage as humanly possible
  3. If you don’t have full coverage on everything you’ll get sick and die, lose your home, or aliens will come to take your first born.

Well maybe aliens wont take your first born, that is the aliens from outer space, but the first two are propagated every time you hear an industry insider, politician, or pundit speak. The fact of the matter is no matter what level of coverage you carry, YOU ARE GOING TO PAY. There are no ways around it. If you carry a plan that ONLY covers hospital, and surgical with nothing else, YOU ARE GOING TO PAY every time you see a doctor for ANYTHING non-major medical. IF you carry a plan that covers unlimited office visits, prescription drugs, and other benefits on top of the hospital and surgical then guess what? YOU ARE GOING TO PAY. The difference is you’re now paying in higher premiums, deductibles, and copays. NO MATTER how you slice it, you are going to pay. The questions is how, and what’s the best for you?

Let me recommend that if you’re chronically ill, go to the doctor a lot, or on a lot prescriptions,  then consider a major medical plan. If you don’t see a doctor but so often, only need a minimum of prescription, and office visits covered, then consider a comprehensive health plan. If you are fairly healthy, don’t see a doctor but rarely, then carry a catastrophic plan. Yes when you go see a doctor you’re paying out of pocket with a catastrophic plan, however in most cases you are saving thousands a year in premiums. In most cases you’ll have to spend $3 -$4k a year in medication and office visits to make the major med worth it. Stop getting hosed!

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