OT: Health insurance premiums (self-employed)

In the last state election here in Oregon one of the ballot measures was whether or not insurance companies could (price) discriminate based on your credit report; the election outcome was that yes, they could.

When insurance companies figure that your credit report tells them something about how likely you are to need medical coverage, I can't imagine DNA testing approach is going to be that far off...

Yes, I remember that (lived there, in Zuid Limburg). But it's heavily taxpayer subsidized. No free lunch.

In the U.S., anyone can walk into a hospital emergency room and get treatment without regard to their financial situation.

The usual problem is that people without health insurance end up in emergency rooms because they can't afford to see a doctor for some simple, easy-to-fix illness and then it turns into a huge, expensive emergency instead, costing everyone more. :-(

They don't :-(

So far our pool is all talk. But I am afraid that should any of that come to pass it'll become flooded with folks who can't get insurance anywhere else. Meaning it'll be expensive.

yea, it seems people forgot what the original purpose of insurance is for, it's not there as a system to pay for every small bill or service, it's there to take care of catastrophic bills that you cannot afford or would devastate your life's savings, at least that is when it works best and makes sense

Only for people with no savings. The problem is an almost complete lack of transparency and fairness. When you fall off a ladder you won't have time to negotiate, someone will call an ambulance. Then come all the bills. A procedure that might be reimbursed at $2500 by an HMO is likely going to be billed to you at 8-10 times that. IOW they sock it to the uninsured because they are powerless. If you get a heart attack and don't have any money you may be ok, they can't rip a shirt off a guy who has no shirt. But if you saved for retirement that nest egg will likely be wiped out.

The taxpayers ;-)

...Jim Thompson

So what's next. Crystal balls? Palm readings?

I think AARP offers supplemental plans. I didn't see anything about normal coverage.

That's what I thought. I wish they'd offer some high-deductible plan for people before 65. AFAIK you can become a member at age 50 so they'd have a market, plus a nice incentive for people to become members.

The other thing I am missing is cash-back like they have in Europe. In many countries you get money back or discounts if you didn't get sick in a certain time frame. Same with car insurance over there: Even if you caused a little ding in someone's care they first pay it and then offer you to take care of it later. If you decide to pay them back your no-claim discount doesn't change, else it does.

I doubt if it's that arcane - they just want to increase their odds of success at separating you from your money.

Cheers! Rich

Since plans are generally paid for before coverage is provided and lapses if you don't pay, I'm not so sure. A lot of the arguments did seem to be closer to "poor people are generally less healthy and therefore more expensive to cover." Statistically I can imagine that at least the premise is sound, but to me it's one of those policies that seems to have the net effect of just making it harder for poor people to ever *not* be poor.

I have Mutual of Omaha supplemental based upon recommendation from my father ;-)

...Jim Thompson

There are both health AND car insurance companies here in the States that offer such plans.

Also, since you are self-employed, you can set up a medical savings plan which makes more of your medical expense tax deductible.

...Jim Thompson

Hmm, have to look. Although in CA the number of licensed companies may not be quite the selection you have. Farmers and the big ones don't do that last time I called. But I am more interested in health care. Last serious vehicle accident I had was eons ago on a bicycle. Crashed full bore into the side of a VW Polo that ran a stop sign, had to pull on the smashed door so driver could get out...

I'll look into that but first I want to find a good health care deal. Thing is, we never really need anything so the HSA would just grow and grow.

testing

What you may have missed in Joel's comment is that the insurance companies already _did_ exercise that practice beforehand. (In Oregon, for certain, and perhaps elsewhere though that wasn't part of the campaign in Oregon.) The ballot measure was about removing that existing practice, not about enabling it.

Jon

testing

Not 'increase.' It's a practice the insurance companies apparently already practice now, without limitation at least in Oregon. The ballot measure was about asking the public to consider removing that existing practice, not about enabling it.

Jon

testing

Thought he meant that yes, they could do that after the election. Using a credit score to gauge a health or other insurnace risk is pretty sick...

Yes but you still get the health care in all cases, whether you pay for it or not or whether your savings get wiped out or not you still get the health care in all cases, that was my point