Who here thinks health insurance is a scam?

Question

Buying insurance is like buying a lottery ticket to get yourself screwed. The only difference is that once you are screwed, you might just get double screwed because the insurance company might refuse payment!

Have you calculated how much you have to pay for your health insurance? Also, why do you think the cost is so high? For the same surgery, you can fly yourself to some asian countries (e.g. Singapore) and perform the same treatment for a fraction of the cost. You fund your own healthcare. You really think insurance companies pay that much?

AmericanPatriot: DO your own research too! Not everybody pays so cheaply like you do for their insurance.

Answer 1

Even worse than the insurance companies are all the other companies that have stuck their fingers into the healthcare pie - HMO's, third parties that do the paperwork for self-insured businesses and medical groups, etc. These businesses add nothing to the care aspect of things, but are in it only for the money.

A coworker's father had to go in for a battery of medical tests, and they required reapproval. He got the statement from the insurance provider, and it also showed how much it would cost him, along with the deductible and copay. He then called the doctors office, and asked what the cost would be if he paid cash on the spot, when he came in for the tests. He was quoted about 30% of what the total insurance bill would have come to. That was less than his portion of an insurance-billed claim would have been. The doctor's office calculated that by not having to deal with the insurance company they saved that much.

Answer 2

My health insurance is part of my employee package...I'd get more pay if we didn't have it, but the insurance I'd have to buy would cost WAY more than what my company pays. I pay a $20 co-pay office visit. My lab work is paid by CHAMPUS, since I'm retired military. I even got my $20 back from my optometrist after I paid him a $20 office visit charge. I pay $19 a month for my wife's insurance as a retired military...and all she's paid so far in the past 6 years is $12 co-pay for each office visit. Everything else is covered.
Before I ever start anything, the office always verifies that my health insurance covers it or how much it covers. In over 13 years, I've never had anything declined.
Better do more research instead of mouthing off from your hind parts; you won't look like a silly HEE HAW.

Answer 3

Insurance is purchased with the intent of never using it.
BUT JUST IN CASE.

It should not be purchased to cover amounts that one can afford to pay out of pocket. Thus, a reasonable deductible.
It should be based to cover an amount that would normally bankrupt a person.

They are required to pay all that is detailed in the fine print. Too few buyers ever read that. Unfortunately, many salesmen are not always truthful in their sales pitch.
It is usually stated that ANY VERBAL statements are not binding.

One day in a hospital runs as much as 5K, and more.

Life insurance is purchased to cover debts and/or leave a sufficient amount to support any family left behind. This is fairly affordable with Term Insurance when one is young, under 40-50.

Answer 4

I think all insurance is a scam, even though my wife is an insurance agent. If insurance did not exist, doctors would not be able to charge the astronomical rates that they do, because no one would be able to afford health care. For instance, to go see my chiropractor, it costs me $40 cash, or $140 with insurance, of which I pay $20. The screw the insurance companies, making it cost more to you on both ends. Insurance sucks.

Answer 5

I had surgery last year. Without health insurance, the cost for the procedure (with just an overnight hospital stay) would have been over $40,000.00, and that's not including the pre-op lab work and appointments. Because I had health insurance, my out of pocket was just over $350.00.

Health insurance is definately not a scam. It can cost too much and some of the regulations and policies suck, but it's not a scam.

Answer 6

I don't know, perhaps because many of them are jacking prices and covering less and less medical problems and issues?

If your insurance refused a payment then that particular insurance is not a good one and did an illegal act. They are supposed to recognize when a client is accepting responsibility and trying to pay.

Answer 7

Then don't buy it. Or more practically, look at the amount of the bill presented and the amount you have to pay and see how badly people who don't have insurance are screwed.

Answer 8

Insurance is a scam,it always been a scam,but now you are required to have it by law.If you haven't heard it yet,let me tell you at this point in time your credit report effect you insurance rates.

Answer 9

I am a nurse and I see this happen all the time.....I think the US really has to do something to repair our health system...its a mess.

Answer 10

It is the best money spent for some people. It may be invaluable