Do you think Health Insurance is a waste of money?

Question

Do you think Health Insurance is a waste of money?

Answer 1

No.  Just wish it was more affordable.

Answer 2

James says it well.

I'm personally (extremely) fortunate that I've never needed to use my health insurance during my 38 years.  But like he says I'm not CERTAIN I'll never need it.  I'd rather pay a known fee on a monthly basis than take the risk of wiping out my life savings due to an unexpected health issue.

Answer 3

You can answer your own question by asking yourself this:

Is it possible that I will NEVER get sick or injured?

If you can answer "NO, definitely not", then you don't need health insurance. It would be a waste of money for you.

But, if you answerd, "YES, there is a possibility that I could get sick or injured", then you need health insurance.

You actually don't need health insurance, unless , and until, you get sick or injured. If there is a possibility of such, when will it happen? If you knew that, you could wait until a few days before to buy your insurance. But, since obviously you don't know, you need to purchase insurance as precautionary measure.

You can't wait until you are sick or injured to purchase health insurance. That would be like trying to buy a fire policy, with a fire already started.

All insurance; health, life, auto, home, commercial, is to protect against the unknown and unexpected, to save one from financial disaster, if and when it happens.

Health insurance is certainly not a waste of money for me. I have been diagnosed with metastatic colon cancer, and the cost of my treatments so far is approaching the $1,000,000 mark. My out of pocket is around $6000.

If you were in my shoes, would you think the insurance was worth it?

Answer 4

NO.  If you think any kind of insurance (the biggies anyway health, life, disability) are "wastes" of money you obviously just don't understand insurance.

Get into the industry and watch people get wiped out by not being insured.  AND, also watch where it just works.  The guy that does alot of painting for me (who also happens to be a hunter) fell out of a tree stand and was unable to work for more than a year.  He had health insurance which paid his extensive medical bills and he had disability insurance which paid him an income for the year until he was able to get back to work and earn an income.  I'm guessing that after $100,000+ in medical bills that he didn't have to pay for and after the disability company paid him thousands he wouldn't think it's a waste.

I just racked up $10k of medical bills by falling down.  You never know what's going to happen and when, so when you consider how inexpensive health insurance can be it's ridiculous not to have it.

Answer 5

No.

Answer 6

I hope so!

I hope i just pay and pay an pay - and never need it.

Don

http://mtnhealthinsurance.com