Have you ever wonderedÂ if you should even have health insurance or any other kind of insurance for that matter?
I recently purchased an automobile and had to practicallyÂ fight my wayÂ out of the office to avoid the barrage of insurance options they offered, ratherÂ begged me to purchase to insure a virtually new automobile.
The insurance would have cost me $2500 over the next 4 years or 60,000 miles–whichever came first (in other words, 3 years). And it covered almost nothing except the engine falling out of the car, and then only if it happened while I wasn’t driving it.
Let’s look at that. How much money would I likely spend over the nextÂ 3 years on repairs for that automobile? Probably none, but certainly less than $2500. Remember, this isn’t auto insurance in case of an accident–that’s a different situation and is required by law. Â
Now, what about health insurance. How old are you. What is the liklihood of you spending any significant amount of money on your health over the next year? Is it worth $750 per month for the insurance it takes to “cover” Â that? Probably not.
So ask yourself, “Can I afford routine office visits which usually cost $100-130.00? If something big happens, say catastophic, what are my options? Could I make payments to cover that? Probably yes. Remember, the hospital will work with you to accomplish that and even if you end up paying them $500 a month, that’s less than any insurance payment you would have been paying.
I would suggest putting some money away monthly for your own insurance against medical bills that may occur, BUT I think that there is a huge need to take a second look before paying a ton of money to insurance companies that say they will pay but fight against you to pay anything anyway.
We have nothing to fear except fear itself, I remember someone saying.