Anyone voluntarily self-insure? Would you trade health insurance for cash? - Page 2

[lilyka]

Originally Posted by laohaire

I could be naive but I'm thinking if I walk in there with a wad of cash to give them right then, I could negotiate the rates.

It's got to be more expensive for HCPs to collect their money from the bureaucratic insurance companies. Filling out all the forms and so on. Waiting several weeks.

But the thing is, they know they'll get paid. Whereas a self-insured person might not pay when the bill comes in the mail. If I wave around cash, that should be a win-win for everyone. Get it settled right now.

But maybe I'm naive.

this has only been the case for me once. and if the hiospital had found out she gave me a discount she could have gotten in trouble. An insurance company still would have paid less.

On the up side when you do not have insurence your bill is less likely to get padded with the extras. My first midwfife went through my room and removed everything they would charge me extra for. Things like a bag that looked like a sample pack!! Pacifiers and soap for the baby. Actually EVERYTHING for her was charged seperately from diapers to the blanket she was laying on. Plus it was $1500 a day just for her to wake up there. Things you woud think would be included. We paid every penny of it though. and so long as we were paying the bill the never harrassed us.

and I did the math. when you consider premiums, deductable, co-insurance etc my third childs birth cost us about the same if we had been insured (with good coverage and low deductable) or uninsured and just paid cash. Crazy huh!?

[lolar2]

Originally Posted by laohaire

I did think of that but my husband thought that the reform included a clause that required insurance to cover pre-existing conditions. He said he thought he remembered it would take place in 4 years. I'll have to look it up.

4 years is correct, but it might be already in place in your state. Also at the time the pre-existing clause takes effect, there will also be a penalty to pay to the feds which will be similar to the one you pay to the state (I think there is some sort of waiver for residents of your state though, so that no one has to double-pay a penalty).

Have you priced out private HD insurance?

[34me]

My bigger question is whether you have checked the tax tables to see if having that extra $10,000 would throw you over into the next bracket so you wouldn't see as much.

I am a huge "what if..." person though so I have to add my dd (16 now 15 when it happened) fell off her bike last July 4th and impailed herself on the brake. Yeah, ouch. The whole thing was missing right up inside her thigh. Jaws of life, lights and sirens, OR, the whole enchilada. To the tune of $15,609.

[noobmom]

Nope, I wouldn't, not unless I was Bill Gates rich. Well, not in your case, which if I understand correctly, you can afford the insurance, right? You just don't feel that you're getting a good return on the money spent. Obviously people who can't afford insurance don't have the option.

At minimum, I'd carry catastrophic insurance, for the what-ifs. You may be healthy and all that, but that doesn't help you if a drunk driver slams into your car.

[SleeplessMommy]

I would not do it. A serious illness or accident is stressful for anyone. Imagine what it would be like if you knew that treatment to keep you alive would certainly bankrupt the family.

My cousin's family had no insurance years ago. She had appendicitis in her early teens and felt terribly guilty. They paid out of pocket for surgery.