Do you really need health insurance?

Question

I've been wanting to get some for my kids, but i've been researching it and it seems as though health insurance is really just in case something huge happens like u need 20,000 surgery or a hospital stay. I'm not saying we will never need it, but I really just want insurance that allows me to take my kids to the doctor and get them medcine for a $10 or $20 copay. It's really dumb for me to get insurance with a 2,000 deductible- insurance would never pay for the low-cost stuff. Would I just be better off putting money in a savings account? I have looked into HSA's, and i think i would be better of just putting some money away. What do you think?

Who said that if something happened I would be getting the government to foot the bill? I think, if you took the time to read my question, that i asked if it would be better for me to SAVE UP if something happened rather than pay that money out to an insurance company..Thats not taking responsibility?

Answer 1

Health insurance is like a gambling game. The smart and conservative thing to do is to get insurance in case something huge happens that would drive you into bankruptcy. Suppose one of your kids comes down with a serious illness or is in a car crash. Unless you're REALLY rich, the cost of a lifetime of care will be more than you can afford. Chances are good that you'll never use your catastrophic insurance, but if you do end up needing it then you'll need it BAD.

If you get the insurance that pays for everyday doctor visits, then chances are VERY good that you will spend more money on the insurance premiums than you would pay for the medications and visits all out of pocket. That's how the insurance company makes money. The benefit to having that kind of insurance is that you will be more motivated to go to the doctor and not worry about the cost of each visit. You won't be as likely to say, 'oh, I'll wait another day and see if he gets better.' If you feel that you can make good decisions either way, then get insurance with a high deductible and chances are good that you'll save money in the long run.

Answer 2

It is not the doctor visit that you want to pay 10 dollars for a co pay that you should be worrying about, it's a large hospital bill that can take you to a poor house.

If you don't want to pay for the premium for a health insurance, you should not complain about the cost and try to get the government (that's everyone else, as a tax payer) to foot your bills should you have to go to a hospital.

Do you know how many people who have poor health want to have insurance? So many cannot get them (on their own) and there are those who have decent health like yourself, but not wanting to take the responsibility to have the coverage.

You mentioned about it's dumb to get insurance that has $2,000 deductible. Paying $2,000 for a deductible probably set you back a few months, but it's the next $100,000 that will force you to sell your home (if you own one) or cash in your retirement account (if you have one) or force you to get in debt for the rest of your life.

Most people aren't using their heads when it comes to insurance, it's not the deductible that will brake them, it's the big damage that will. And that's what an insurance is for.

Be smart, but most important, be responsible by getting a health insurance for yourself and your family.

Answer 3

Let me put it this way for you: I work for a pediatrician, and a simple office sick visit cash price is $80. Labs (throat cultures, etc.) start at $20 each. So, let's say you think your child has strep throat - a visit, the quick strep test, and the regular strep test - the total is $130. Then, there's the prescription - generic amoxicillian is about $10 for a ten day supply. But something like Omicef is $125 for ten days. So, you could easily spend over $200 for a simple sore throat.

Medical bills are the leading costs of bankruptcy in the US. I have a family friend whose son had cancer, this family owes the hospital $900,000 - yes, nine hundred thousand dollars - and that's WITH insurance. Imagine if they didn't have any!

In New York, there's progams called Healthy New York, Child Health Plus, and Family Health Plus = they're insurances where the state subsidizes part of the cost to make it affordable for people who can't afford premiums. Check to see if where you live has something similar. In today's day and age, no one should be without some kind of health insurance!

Answer 4

I think your better off with the insurance.
It doesnt have to be something huge. It could be something like a broken arm that will run up a $10,000 bill easily. Honestly I would give up the coverage for myself and my hubby before I did on the kids. Last year alone my son had some problems with an ear infection and we ended up having to see a specialtist. So it wasnt something big but it cost some bucks.
I am not sure what you have looked into but I think Blue Cross Blue shield has some decent plans that dont have that high deductiable.
Also look at your states income support division website to see if your kids could qualify for low cost insurance. Its not Medicaide but actuall insurance.

Answer 5

Yes and no. If you want to just put money in a savings account, than why not go ahead and do the HSA. An HSA has greater benefits than just saving money for medical expenses, it is also tax deductible.

If money is the concern, get a large deductible ($5000 or more), and add the HSA. You will still save money and if something big does happen (cancer, car wreck, etc.), you will have something in place.

Good luck.

Answer 6

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RE :Do you really need health insurance?
I've been wanting to get some for my kids, but i've been researching it and it seems as though health insurance is really just in case something huge happens like u need 20,000 surgery or a hospital stay. I'm not saying we will never need it, but I really just want insurance that allows me to take my kids to the doctor and get them medcine for a $10 or $20 copay. It's really dumb for me to get insurance with a 2,000 deductible- insurance would never pay for the low-cost stuff. Would I just be better off putting money in a savings account? I have looked into HSA's, and i think i would be better of just putting some money away. What do you think?
Update: Who said that if something happened I would be getting the government to foot the bill? I think, if you took the time to read my question, that i asked if it would be better for me to SAVE UP if something happened rather than pay that money out to an insurance company..Thats not taking responsibility?
Follow 8 answers

Answer 7

paying insurance i think is necessart in todays world . you never know what comes next .accidents, diseases are unpredictible they may come at an unexpected time . if you have insurance you can treat your children soon and at no time. i think insurance is not all about taking your child to the doctor its about securing the future of your children .

Answer 8

See what your state offeres as far as state supported insurance for your kids.It sounds like mooching but in reality a lot of people qualify and dont even know it! Believe me, it helps out a lot :)