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Is Anybody Currently Not Carrying Health Insurance?

BLTC

BLTC

VIP Member
Dec 23, 2010
613
108
#1
.and paying everything out of pocket????

So long story short I got laid off from a very nice gig in wireless telecom in July of 2018. One of my old managers reached out to me this past July and said they had head count for 1 contractor to lead a small project that's IT related but much more business than technical in nature. I agreed and am grateful to be earning again but it was a 40% pay cut from my old job and it's really starting to hurt.

To make matters worse I've been paying my family's health insurance out of pocket since the layoff to the tune of nearly $1300/month. Mind you we are very healthy people and rarely go to the doctor and the cost of the goddamn insurance and the premiums are so high we avoid using it like the plague. I've researched and most medical practitioners offer cash prices which are usually discounted by about 30-50% compared to the costs set by the insurance companies.

I've been toying with the idea of just dropping all the insurance altogether and using the savings to pay out of pocket for everything. A friend of mine's been doing this for a couple of years for his daughters who are very active with sports and it's worked out well for him.

I know dumping the health insurance goes against everything I've ever been taught but the costs are killing us and eating up what little savings we have left. I'm currently contracting right now but there's a pretty good chance I'll get hired on full time in a year so the company will pick up half the insurance costs.

I've rationalized that any large medical bill we get like for an ER visit or surgery or something of that nature I would allow to go to collections and negotiate down expecting to pay no more than 50% of the bill. I've negotiated a 75% reduction for a non medical related payment in the past and that discount seems to be the norm. Being that Trump will most likely get re-elected I can assume there'll be no penalty for not carrying the insurance.

Is anyone doing this right now? Am I nuts to consider this or crazy like a fox? The thought of keeping nearly $15K of my hard earned money over the next 12 months is very appealing.
 
Lizard King

Lizard King

Administrator
Staff Member
Sep 9, 2010
11,509
3,312
#2
I have insurance and it's a high deductible plan, I think it's like $6,500 for family. So I basically pay out of my paycheck every 2 weeks for the insurance and then when my kids go to the MD and it's not just a well visit, I pay out of pocket what the insurance would have paid had I of met my deductible.
I think I would make out if I didn't have insurance just paying for their physical, flu shot etc, just can't bring myself to do it in case anything happened.
 
BLTC

BLTC

VIP Member
Dec 23, 2010
613
108
#3
I have insurance and it's a high deductible plan, I think it's like $6,500 for family. So I basically pay out of my paycheck every 2 weeks for the insurance and then when my kids go to the MD and it's not just a well visit, I pay out of pocket what the insurance would have paid had I of met my deductible.
I think I would make out if I didn't have insurance just paying for their physical, flu shot etc, just can't bring myself to do it in case anything happened.

WOW...$6500 family deductible would be great....that's what it used to be. Mine's closer to $15K!

just can't bring myself to do it in case anything happened.
This is the problem I'm facing too. I've been so brainwashed into believing the world will come to an end if I don't have medical insurance I'm scared shitless to cut it. On the other hand there's always chapter 7 in the event of a HUGE medical bill and one can always negotiate a bill down with collections.

I'd be really interested in other's opinions on this topic.
 
C

ceo

VIP Member
Oct 12, 2010
508
156
#4
I knew a guy on another board who was self insured essentially. He negotiated best cash prices with doctors for things, including a couple surgeries he and his wife needed. They didnt have kids though. Also they lived in LA so Mexico was always an easy option for major medical expenses.

He preferred paying cash and it worked out well for them over many years they had been doing it.

Sent from my SM-G955U using Tapatalk
 
CFM

CFM

Honey Month's Official Licker
Mar 18, 2012
833
525
#5
I have no income: I pay 5.00 a month. I am getting my nose done, liposuction, seeing a shrink for depression and my meds are free. I am also considering a sex change. The key is to claim "I am depressed" and a better nose, flatter belly and a sex change is the solution. I was born, therefor I am entitled.
 
1bigun11

1bigun11

VIP Member
Oct 23, 2010
1,787
1,120
#6
I don't have insurance. It would cost me, for myself alone, $700 month ($8400 a year),with a $5000 a year deductible, meaning $13,400 a year before I received any benefit from it. Totally not worth it to me.

I broke my ankle in a motorcycle incident a couple of years ago. Went to the urgent care clinic. Told them I had no insurance, but could pay cash. They X-rayed, set it, put a boot cast on me, and sent me out the door for less than $700 (the cost of a monthly premium). I had a similar accident when I had insurance, and suddenly the health care reps decided I needed all kinds of extra care, surgery, and follow ups. They find all kind of extra crap to bill you for to jack up your bill when they find out you have insurance. It's a fucking racket in my opinion, and both the health care reps and the insurance agencies make out like bandits.
 
Lizard King

Lizard King

Administrator
Staff Member
Sep 9, 2010
11,509
3,312
#7
I have no income: I pay 5.00 a month. I am getting my nose done, liposuction, seeing a shrink for depression and my meds are free. I am also considering a sex change. The key is to claim "I am depressed" and a better nose, flatter belly and a sex change is the solution. I was born, therefor I am entitled.
You play a good victim, you should be helped with my money.
 
Lizard King

Lizard King

Administrator
Staff Member
Sep 9, 2010
11,509
3,312
#8
WOW...$6500 family deductible would be great....that's what it used to be. Mine's closer to $15K!
Yep, I pay out of every pay check for my insurance and then if anyone goes to the MD for a sick visit I am basically paying out of pocket which pissed me off.
If I was SP, I would save X dollars out of every paycheck and still have to pay out of pocket for the visits and most likely get a reduced SP rate.
 
T

The other Snake

VIP Member
Aug 19, 2016
87
54
#10
No BLTC but I would be down that road if I lost my job. Insurance is a level of comfort or so they say. I have insurance through my work and it's a joke. Between what my company and I put out for my family plan, it runs over 22k and they don't put their hand in their pocket until I hit an 8k deductible. Not sure where the comfort is there!

I could manage on the little things going out of pocket but a big one like a heart, brain condition or the big "C" would put me out with no chance of financial recovery at my age.

It's scary stuff but in survival mode, you need to address what's going to kill you first. Bust wished!
 
MR. BMJ

MR. BMJ

TID Board Of Directors
Sep 21, 2011
475
199
#11
None after getting laid off, lol. I could join the GF's if we got married......:oops:
 
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