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As someone who goes healthy years without seeing a Dr, the options for insurance are much more expensive than paying the penalty and paying for needed care. But having coverage for the possibility of a health catastrophe makes sense. I had an affordable, very high deductible policy for years that would kick in in such an event. Such a thing does not appear to exist for HI residents, but if anyone could find just a catastrophic policy, it is the Punawebbers.
Any suggestions or thoughts?
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This is what I always buy. The new one at Kaiser is less than it was last year and the max is now 6300 instead of the 5k one I had before. It's just called the "bronze" plan. Basically, it's a catastrophic plan- although it now covers much more than before thanks to Obama. I am only paying 164 per month- which I consider dirt cheap. I'm female and 45, nonsmoker.
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unknownjulie:
calculate what this insurance would leave you on the hook for if you had expenses of $250,000 or more which is easily possible.
It's 164 a month for a reason.
Obama didn't do any favors except for his Wall Street friends.
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It would leave me on "the hook" for 630 dollars total. That's why it's a good deal, and also why it's called "insurance"!
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Sorry. Meant to say, 6300. That's it! Total for an entire years worth of potential medical expenses.
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Unknownjulie:
No it's not, read the policy provisions, what is not covered, what is not covered, what are out of pocket expenses not covered by the policy and so forth.
The deductible of $6350 is just the immediate off the top expenses you have to pay yourself during the policy term.
The Kaiser and HMSA "Bronnze" plans don't cover some of the big expenses you could incur during a medical crisis.
For your own benefit, read the plan provisions, they have been on the Kaiser and HMSA websites
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It is my understanding that the govt is requiring the private insurers to cap the expenses at this amount. I asked repeatedly about this. I'll look into it more, but if you have a link then I know it will help a lot of people trying to figure it all out.
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The actuaries know what they are doing, of course. This non smoking 60 year old would have to pay nearly $4,000 annually just for the "Bronze" insurance. If I did seek medical care, add the deductible, and that is $10,000 for the year out of pocket before the insurance even applies. SAVE that for a few years and it is possible to pay for a fair amount of care. But as was pointed out, one hospital stay can be in the hundreds of thousands. The actuaries and uninsured me are betting that it will be a small percentage of my possibilities. The actuaries also put loopholes into their policy, to limit their risk, and increase ours. They resist the idea of a cap, and it will be interesting to know the results of unknownjulie's research. I'm suspicious.
For all these reasons, I hope for a policy that will cover the astronomical costs of a major health crisis for say $150 a month, knowing that I will be fully responsible for paying for anything less than astronomical. The system is not pretty.
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I just went to the website and used birthdates of 15 yrs older than me and got, 309 for the bronze, and 388 for the gold level-per month. The gold level only has a 1500 deductable. I really think this is dirt cheap, and less than it used to be. I know it's not 150, but I am not sure where you can find something like that right now. Honestly, the private insurers must be heavily subsidized by the govt to be offering these rates, and the 6300 cap per year.
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Hello,
Before I became a pilot, I was premed in college. While health care costs are indeed ridiculously expensive now; I want to make one point that people don't seem to like to admit. Health Care costs money. A lot of money. Always has, always will. The average American spent 7 percent of their income on health care in the 60's-70's. For a person making 50K a year, that would be 3,500 dollars, if you make 30K, it's 2,100 bucks. People often exclaim that it is too much money. But is it really? Think of what you pay for. The years or decades of research going into the medication you take, the amazing equipment a modern hospital/clinic contains; the minimum of 12 years post High School training your Doctor went through. I am not going to take a side for or against nationalized healthcare, but wether you pay out of pocket for private healthcare or though taxes for nationalized health care; either way, you'll pay.
I am not accusing anyone on this board of anything; just posing a question I often ask my friends. Is 7 percent a year too much to ask as a personal contribution to your own health care? (please don't think of that as a snarky comment.)
Still cold, though it warmed up to -15.
AKpilot
We're all here, because we're not all there!
We're all here, because we're not all there!
