Health Insurance Sucks!So you are out getting some exercise walking in the neighborhood when a rogue dog starts chasing you. The dog’s owner calls him off but not before you trip and bang up your knee and ankle. As you trudge over to urgent care you feel ‘OK’ knowing you have health insurance. Then the bite, worse than what the dog could have given you, sinks into your wallet.
Your simple spill on the roadway turns into torn ligaments, a cast on the leg, possible surgery, tetanus shot, X-rays and on and on. No worries, you have health insurance, right? Then you start getting the bills and come face to face with co pays, deductibles, and co insurance. Where is the health insurance that you have been so faithfully paying the premiums on. Nothing seems to be covered and you are out a ton of cash from some dog that did not even touch you.
Health insurance sucks. It is complicated, confusing and seems to be of little value for those quirky life events. I can only provide a mild defense for individual and family health insurance. The best case scenario from the accident is that you are on the hook for several thousand dollars depending on your plan. The worst case, you have no insurance and you owe $15,000 – $20,000 with no protection from collection agencies. For small business owners, having health insurance may mean the difference between staying in business or loosing all your assets.
Let’s face it, if you develop some dreaded disease, the $10,000 maximum out pocket amount on your plan seems like chicken feed compared to what the hospitals and doctors are charging to manage and cure your disease. Of course, that is small comfort as you are now in perpetual of fear of dogs.