Is the Health Insurance system broken?!
Question: Purchasing health insurance if self-employed seems cost-prohibitive when it comes to deductibles, monthly cost, and coverage in general. Seems like it is only good for catastrophic situations, otherwise too expensive.
Any thoughts?
Answers: Purchasing health insurance if self-employed seems cost-prohibitive when it comes to deductibles, monthly cost, and coverage in general. Seems like it is only good for catastrophic situations, otherwise too expensive.
Any thoughts?
Originally, health insurance was just to pay for catastrophic situations. A $150 doctor bill is not going to ruin you but a $100,000 hospital bill probably would. I doubt your auto insurance pays for your cars' yearly check-up but everybody expects their health insurance to pay for their yearly check-up.
If you do the math; in most cases the extra premium money that is paid for a lower deductible and for doctor visit co-pays is not worth what you get out of it. This is why I have an HSA qualified health policy.
You may try to compare the individual policies to group policies but the employer is usually footing a large portion of the premium as a benefit. As a side note, many companies are going with a "catastrophic" type policy.
The system, in my opinion, is not broken. It does have it's problems but the problems are minor for most people and I'd take our health care and insurance system over every other country. The main problem is everyone expects the insurance company to pay every time they get the sniffles.
but useful it is really expensive as all type of insurance but what can i do
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