My Naivety about Health Insurance

I have been very forunate my entire life in regards to health insurance.  Through my employment or that of my husband, I have always had pretty decent coverage for both preventative and major medical care.   I abstractly know that healthcare (or lack there of in many cases) is a hot button political issue and a very, very difficult problem to solve.

Bob was recently reviewing a health plan from a national retailer.  The out-of-pocket expense for the "elite" plan came out to be about $85/month for an individual.  Not bad, eh?   Well, let's look at the specifics.  If he used the entire maximum benefit for basic doctor's visits and basic medical procedures, he would be in the hole for the year.  But, wait, isn't the purpose for more catastropic events?  The coverage for hospital stays, emergency care, more expensive procedures (e.g. MRI) is abysmal.  Our out-of-pocket for any major surgery would be in the 10's of thousands of dollars as they cover a maximim of $1000.  So, it is a lousy plan if you don't get sick or injury and a lousy plan if you do.  But, the retailer can proudly proclaim they provide health insurance!  Ironically, the provider they use is called The American Worker plan.

To the contrary, a certain major recreational equipment retailer provides comprehensive health insurance through Aetna, which is similar in benefits to my own.

This was a very valuable experience for me to see up-close and personal what so many people struggle with everyday.  It also brings me back to some of my values which might have been compromised by some of my more persuasive friends.  Good timing.

   

Comments

[life insurance broker Toronto]

Can I ask, how much would cost complete coverage (monthly)? It's really interesting, that US spend 16% of GDP (and still growing!) for health care, and still there is about one fifth of population uninsured/underinsured. Where are going all those money?
Lorn