Health Insurance
#1
Pedaled too far.
Thread Starter
Join Date: Oct 2005
Location: La Petite Roche
Posts: 12,851
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 11 Post(s)
Likes: 0
Liked 7 Times
in
7 Posts
Health Insurance
As a part of being laid off, they finally got me my COBRA forms.
But COBRA wants $700.00 a month! Just me alone. That would be the single biggest expense in my budget, almost 160% larger than rent. Should I go for it?
But COBRA wants $700.00 a month! Just me alone. That would be the single biggest expense in my budget, almost 160% larger than rent. Should I go for it?
__________________
"He who serves all, best serves himself" Jack London
#2
I need more cowbell.
Join Date: Jun 2005
Location: Reno, Nevada
Posts: 8,182
Bikes: 2015 Specialized Sirrus Elite
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 23 Post(s)
Likes: 0
Liked 0 Times
in
0 Posts
I had to do that once, and it's not fun. Find out whether keeping yourself insured will make it easier to get your own insurance, should you have to, once the COBRA runs out. If you let your coverage lapse, you might have a problem with any preexisting conditions (such as being alive, breathing, and possibly wanting to actually USE the insurance some day down the line) keeping you from being accepted by a new company.
__________________
2015 Sirrus Elite
Proud member of the original Club Tombay
2015 Sirrus Elite
Proud member of the original Club Tombay
#3
legs full of molasses
Join Date: Oct 2007
Location: grand central ohio
Posts: 250
Bikes: 1982 Nishiki Sport
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times
in
0 Posts
When I was without employer-provided insurance for a few years, I found decent (not perfect) policies through insweb.com -- there are other sites too, I think. I just had catastropic coverage, and a fairly high deductable so my premium was not much more than I am paying now, admittedly for much less coverage. I could cover my routine costs okay on my own.
#5
Senior Member
#6
Senior Member
Join Date: Mar 2007
Location: Minneapolis, MN
Posts: 1,834
Bikes: 05 Trek 5200, 07 Trek 520, 99 GT Karakoram, 08 Surly 1X1
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times
in
0 Posts
COBRA is priced to kick you out. They don't want you on the plan anymore, but the law says they've got to tag you along for a number of months.
I would recommend you check out this site:
https://www.arkbluecross.com
I'm no expert, but having recently dealt with this I found the Blue Cross / Blue Shield Individual plans made the most sense. Goodluck!
I would recommend you check out this site:
https://www.arkbluecross.com
I'm no expert, but having recently dealt with this I found the Blue Cross / Blue Shield Individual plans made the most sense. Goodluck!
#7
Senior Member
Join Date: Sep 2006
Posts: 1,195
Bikes: Kona Cinder Cone, Sun EZ-3 AX
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times
in
0 Posts
I was faced with a situation kinda like that. I chose to do without the insurance (call it being "self-insured"). All was well for quite a while. Then, I was not so well: Congestive heart failure, enlarged prostate requiring surgery, cataracts in both eyes requiring surgery, two hernias requiring surgery, gout, and other assorted problems. I ran up medical bills (uninsured and unreimbursed) of about $100,000 over five years time before I got old enough for Medicare. Sounds scary, but it wasn't as bad as it sounds. If I'd had insurance, the premiums would have cost me about as much as my medical bills amounted to...I figure I broke about even.
#8
feros ferio
Join Date: Jul 2000
Location: www.ci.encinitas.ca.us
Posts: 21,796
Bikes: 1959 Capo Modell Campagnolo; 1960 Capo Sieger (2); 1962 Carlton Franco Suisse; 1970 Peugeot UO-8; 1982 Bianchi Campione d'Italia; 1988 Schwinn Project KOM-10;
Mentioned: 44 Post(s)
Tagged: 0 Thread(s)
Quoted: 1392 Post(s)
Liked 1,324 Times
in
836 Posts
Partly true. The other part of the equation is that our health insurance system is less than 70% efficient, meaning that more than 30% of your premium expenditures go to administration expenses and other "leakage."
__________________
"Far and away the best prize that life offers is the chance to work hard at work worth doing." --Theodore Roosevelt
Capo: 1959 Modell Campagnolo, S/N 40324; 1960 Sieger (2), S/N 42624, 42597
Carlton: 1962 Franco Suisse, S/N K7911
Peugeot: 1970 UO-8, S/N 0010468
Bianchi: 1982 Campione d'Italia, S/N 1.M9914
Schwinn: 1988 Project KOM-10, S/N F804069
"Far and away the best prize that life offers is the chance to work hard at work worth doing." --Theodore Roosevelt
Capo: 1959 Modell Campagnolo, S/N 40324; 1960 Sieger (2), S/N 42624, 42597
Carlton: 1962 Franco Suisse, S/N K7911
Peugeot: 1970 UO-8, S/N 0010468
Bianchi: 1982 Campione d'Italia, S/N 1.M9914
Schwinn: 1988 Project KOM-10, S/N F804069
#9
feros ferio
Join Date: Jul 2000
Location: www.ci.encinitas.ca.us
Posts: 21,796
Bikes: 1959 Capo Modell Campagnolo; 1960 Capo Sieger (2); 1962 Carlton Franco Suisse; 1970 Peugeot UO-8; 1982 Bianchi Campione d'Italia; 1988 Schwinn Project KOM-10;
Mentioned: 44 Post(s)
Tagged: 0 Thread(s)
Quoted: 1392 Post(s)
Liked 1,324 Times
in
836 Posts
COBRA is priced to kick you out. They don't want you on the plan anymore, but the law says they've got to tag you along for a number of months.
I would recommend you check out this site:
https://www.arkbluecross.com
I'm no expert, but having recently dealt with this I found the Blue Cross / Blue Shield Individual plans made the most sense. Goodluck!
I would recommend you check out this site:
https://www.arkbluecross.com
I'm no expert, but having recently dealt with this I found the Blue Cross / Blue Shield Individual plans made the most sense. Goodluck!
If I lose my employer-provided health insurance, I'll probably check out ehealth.com and similar companies, as well as going directly to Blue Cross/Shield/et al. for a quote.
By the way, does anyone know the exclusion period for cancer survivors, after which they can qualify for regular individual health insurance policies? For example, is 15 years after a thyroidectomy long enough?
__________________
"Far and away the best prize that life offers is the chance to work hard at work worth doing." --Theodore Roosevelt
Capo: 1959 Modell Campagnolo, S/N 40324; 1960 Sieger (2), S/N 42624, 42597
Carlton: 1962 Franco Suisse, S/N K7911
Peugeot: 1970 UO-8, S/N 0010468
Bianchi: 1982 Campione d'Italia, S/N 1.M9914
Schwinn: 1988 Project KOM-10, S/N F804069
"Far and away the best prize that life offers is the chance to work hard at work worth doing." --Theodore Roosevelt
Capo: 1959 Modell Campagnolo, S/N 40324; 1960 Sieger (2), S/N 42624, 42597
Carlton: 1962 Franco Suisse, S/N K7911
Peugeot: 1970 UO-8, S/N 0010468
Bianchi: 1982 Campione d'Italia, S/N 1.M9914
Schwinn: 1988 Project KOM-10, S/N F804069
#10
Boomer
Join Date: Nov 2003
Posts: 7,214
Bikes: Diamondback Clarity II frame homebuilt.
Mentioned: 106 Post(s)
Tagged: 0 Thread(s)
Quoted: 16098 Post(s)
Liked 1,457 Times
in
1,064 Posts
Being as I live near Hartford, Ct.......at one time the insurance capital of the world, we occasionally see interesting bits in the newspaper. It appears tha some of "our insurance companies are returning only about $0.25 on the dollar. That might be more than inefficient............It might be theft.
__________________
#11
Senior Member
Join Date: Apr 2008
Location: Rochester, MN
Posts: 362
Bikes: 91 Specialized Sirrus, 96 Gary Fischer, 08 Specialized Roubaix Elite, 2010 Specialized Tricross Sport
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times
in
0 Posts
John E asked:
"By the way, does anyone know the exclusion period for cancer survivors, after which they can qualify for regular individual health insurance policies? For example, is 15 years after a thyroidectomy long enough?"
I have Blue Cross/Blue Shield and when I applied they only asked about the last 8 years for any medical treatments.
edit: I am 55yo and my plan costs $260mo. with a $5k deductable.
"By the way, does anyone know the exclusion period for cancer survivors, after which they can qualify for regular individual health insurance policies? For example, is 15 years after a thyroidectomy long enough?"
I have Blue Cross/Blue Shield and when I applied they only asked about the last 8 years for any medical treatments.
edit: I am 55yo and my plan costs $260mo. with a $5k deductable.
Last edited by oldride; 11-20-08 at 03:12 PM.
#13
Senior Member
Join Date: Mar 2008
Location: Montreal, Quebec, Canada
Posts: 730
Bikes: 1976 Apollo Mk IV, mid-'80s Miyata touring bike, mid-'80s Miyata mtn bike, 2007 Trek 6500 mtn bike, 2008 Trek Madone 5.2
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
Likes: 0
Liked 0 Times
in
0 Posts
Move to Canada.
As long as you don't mind cycling in the snow for four months of the year.
As long as you don't mind cycling in the snow for four months of the year.
#14
Senior Member
Join Date: Feb 2004
Location: St Peters, Missouri
Posts: 30,225
Bikes: Catrike 559 I own some others but they don't get ridden very much.
Mentioned: 16 Post(s)
Tagged: 0 Thread(s)
Quoted: 1572 Post(s)
Liked 643 Times
in
364 Posts
When I was without employer-provided insurance for a few years, I found decent (not perfect) policies through insweb.com -- there are other sites too, I think. I just had catastropic coverage, and a fairly high deductable so my premium was not much more than I am paying now, admittedly for much less coverage. I could cover my routine costs okay on my own.
Insurance companies typically have around 40% administrative and expense loading. That's a lot extra to pay just for having somebody pay maybe 2/3 the cost of an office visit.
The best insurance program that I ever had was a Medical Savings Account. It had 3 parts:
The first was a high deductable major medical insurance policy.
The second was a PPO to take advantage of the insurance company's negotiating power with medical providers.
The third was the MSA. It was completely self-directed. I got a check book and could use it for anything medical related.
As I remember, it cost us about the same as the insurance program that we had previously, but it paid 100% of all our medical costs. Of course, we didn't have anything big while we had the MSA.
Last edited by Retro Grouch; 11-20-08 at 05:58 PM.
#15
Banned.
Join Date: Aug 2001
Posts: 20,917
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 12 Times
in
10 Posts
Interestingly, as I understand it, Medicare administrative costs are lower than private health insurers.
Please see:
https://www.cahi.org/cahi_contents/re...nicalPaper.pdf
Please see:
https://www.cahi.org/cahi_contents/re...nicalPaper.pdf
Last edited by DnvrFox; 11-20-08 at 05:59 PM.
#16
Senior Member
Join Date: Sep 2006
Posts: 1,195
Bikes: Kona Cinder Cone, Sun EZ-3 AX
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times
in
0 Posts
I skimmed through some of that report, and it seems to be comparing Medicare to private insurance with things like commissions and profits excluded from the private insurance costs!
#17
Senior Member
Join Date: Mar 2006
Location: Montgomery County, Pennsylvania
Posts: 6,489
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
Likes: 0
Liked 6 Times
in
2 Posts
It's probably just the socialist streak that runs through me at times, but I don't think health care should be a profit making venture. And, yes I know the arguments about the incentives for new cures, treatments, etc. being driven by profit. But it irks me at the very core that someone will make money off of others being sick. Now keep in mind that the company I run just got our quote for health insurance this week. It is now 9.7% of our total operating budget; over $12,000 a year per employee.
__________________
A conclusion is the place where you got tired of thinking. - S. Wright
Favorite rides in the stable: Indy Fab CJ Ti - Colnago MXL - S-Works Roubaix - Habanero Team Issue - Jamis Eclipse carbon/831
A conclusion is the place where you got tired of thinking. - S. Wright
Favorite rides in the stable: Indy Fab CJ Ti - Colnago MXL - S-Works Roubaix - Habanero Team Issue - Jamis Eclipse carbon/831
#18
Senior Member
Join Date: Mar 2007
Location: Minneapolis, MN
Posts: 1,834
Bikes: 05 Trek 5200, 07 Trek 520, 99 GT Karakoram, 08 Surly 1X1
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times
in
0 Posts
It's probably just the socialist streak that runs through me at times, but I don't think health care should be a profit making venture. And, yes I know the arguments about the incentives for new cures, treatments, etc. being driven by profit. But it irks me at the very core that someone will make money off of others being sick. Now keep in mind that the company I run just got our quote for health insurance this week. It is now 9.7% of our total operating budget; over $12,000 a year per employee.
IMHO the entire system is ass end backwards. They need to completely remove "insurance" from the equation and stop making this an employer carried cost.
"Insurance" is for unexpected, unintended losses. e.g. My house burns down, someone steals my bicycle. It makes no sense to me that health care is administrated through this type of system.
#19
Senior Member
Join Date: Feb 2004
Location: St Peters, Missouri
Posts: 30,225
Bikes: Catrike 559 I own some others but they don't get ridden very much.
Mentioned: 16 Post(s)
Tagged: 0 Thread(s)
Quoted: 1572 Post(s)
Liked 643 Times
in
364 Posts
Interestingly, as I understand it, Medicare administrative costs are lower than private health insurers.
Please see:
https://www.cahi.org/cahi_contents/re...nicalPaper.pdf
Please see:
https://www.cahi.org/cahi_contents/re...nicalPaper.pdf
#20
Senior Member
Join Date: Jun 2004
Location: Northern Nevada
Posts: 3,811
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 3 Post(s)
Likes: 0
Liked 0 Times
in
0 Posts
FWIW, you're getting off pretty easy. Our COBRA policy is running us $1235 a month for me and my wife, for a year until I'm old enough for Medicare. Probably I wouldn't spend anywhere near that on health care, but a 64, with questionable heredity, you can't risk it.
#21
Senior Member
Thing is about US health insurance.. FIrst the cost.. Often greater than rent.. But, unreliable deductibles and unreliable coverages, is it worth it.. You can pay out the 700 bucks and find out when needed , it won't be there for you... Is it worth it.. Is insurance without defined coverages really insurance.. ?.
__________________
Pray for the Dead and Fight like Hell for the Living
^ Since January 1, 2012
Pray for the Dead and Fight like Hell for the Living
^ Since January 1, 2012
#22
Surf Bum
Join Date: Aug 2008
Location: Pacifica, CA
Posts: 2,184
Bikes: Lapierre Pulsium 500 FdJ, Ritchey breakaway cyclocross, vintage trek mtb.
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 13 Post(s)
Likes: 0
Liked 5 Times
in
3 Posts
If you are healthy, it may be worth it to just get a catastrophic policy that will kick in and cover everything after the first $5k or $2k or $10k or whatever (many different plans available). The premiums each month are very low. Think of it this way: you're going to pay $8500/yr in premiums for the full coverage plan, right? What if you could pay $1500/yr in premiums and be on the hook for the first $7k yourself? If you get really sick and run up a bunch of bills, your cost ends up being the same as you would have paid anyway. If you never need any care that year, you just saved yourself $7k.
#23
Senior Member
Insurance companies.. Don't trust them as far as you can throw them.. All their exemptions and non coverages. .Just because you think you're covered, don't be so sure; when it come time to collect.
__________________
Pray for the Dead and Fight like Hell for the Living
^ Since January 1, 2012
Pray for the Dead and Fight like Hell for the Living
^ Since January 1, 2012
#24
Senior Member
Join Date: Jul 2006
Posts: 4,260
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 2 Times
in
2 Posts
If you are healthy, it may be worth it to just get a catastrophic policy that will kick in and cover everything after the first $5k or $2k or $10k or whatever (many different plans available). The premiums each month are very low. Think of it this way: you're going to pay $8500/yr in premiums for the full coverage plan, right? What if you could pay $1500/yr in premiums and be on the hook for the first $7k yourself? If you get really sick and run up a bunch of bills, your cost ends up being the same as you would have paid anyway. If you never need any care that year, you just saved yourself $7k.
All great plans for healthy people. That's the problem, healthy people don't really
need the insurance. The people with life long illnesses are screwed. Pay out $1200
a month for family coverage and add to that another $200 a month co-pay for meds
that cost $1800 per month retail. The poor get health care provided but only after
they've been sick for so long that many who could have been successfully treated
when first getting sick or noticing a problem end up dying of a terminal disease due
to delayed care. The rich are all set, no worries. The rest of us will go belly-up if/when
we fall seriously ill. That has become the American way. If we don't go broke trying
to stay insured, we'll go broke paying medical bills.
2000 years ago, many of us believe a man walked the Earth who healed, fed and
provided salvation for all who would come to him. Now we have CEO's who feed
off the general populace and the sick, and create the hungry and homeless.
#25
just keep riding
Join Date: Feb 2005
Location: Milledgeville, Georgia
Posts: 13,560
Bikes: 2018 Black Mountain Cycles MCD,2017 Advocate Cycles Seldom Seen Drop Bar, 2017 Niner Jet 9 Alloy, 2015 Zukas custom road, 2003 KHS Milano Tandem, 1986 Nishiki Cadence rigid MTB, 1980ish Fuji S-12S
Mentioned: 15 Post(s)
Tagged: 0 Thread(s)
Quoted: 173 Post(s)
Liked 33 Times
in
22 Posts
For the first time in my life, I feel like I'm getting my money's worth for my insurance premiums this year. I'm seeing some scary looking bills from all the doctors, hospitals, treatment centers, labs etc. that have been involved in treating my cancer. I'd hate to think about what it would be like without good insurance.