After the price of Obamacare compliant insurance began to increase dramatically, my wife and I joined a “healthcare ministry” which was exempt from the Obamacare penalty. With the penalty now going away we will be switching to a “catastrophic plan” which protects our assets in case one of us ends up with an expensive medical problem and use our IRS approved “healthcare savings plan” for routine medical expenses. This is something that President Trump talked a great deal about during the campaign. This is by far the best option for us. Obamacare completely screwed up our situation.
There are so many misperceptions about health insurance that have been promoted by the media, government officials and politicians. Health insurance does not make anyone any healthier. It has been shown repeatedly in studies that people who choose not to purchase health insurance tend to be healthier than people who have health insurance. The purpose of any kind of insurance is to protect your assets in case of an unforeseen expense or disaster... like when your house burns down, or you bash into something with your car.
People without money in this country have all sorts of options when they have medical needs. No one is refused treatment when they call 911 based on their ability to pay. If you do not have health insurance that covers your expenses but have assets after you receive medical treatment the providers will insist you pay them. If you do not have assets either the government will pay the provider or the expense will be written off and everyone else will pay more for their services to cover for the deadbeats.
We had one chronic 911 abuser in our community who ran up over $2.4 million dollars in medical expenses. He was never denied medical treatment even one time that I am aware of. And instead of berating this clown who I personally responded to sometimes dozens of times a month our local editorial decided he was a story “that offered hope to those who hit rock bottom”.
Thanks for your excellent reply and realities.
Is that healthcare savings plan, the yearly plan that used to be around? If so, we might get it for dental payments.