"Health Insurance Isn't All It's Cracked Up to Be"

Discussion in 'General Insurance Agent Discussions' started by Golddoor, Oct 18, 2006.

  1. Golddoor
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    Golddoor Guru

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  2. James
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    James Guru

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    Excellent article, John Stossel does it again. I'm really suprise that he still has a job, I suspected that ABC would of dump him a while ago since he is so opposite of their other coverage.
     
  3. somarco
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    somarco That Medicare Guy

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    You can view the report here

    http://www.kff.org/kaiserpolls/upload/7572.pdf

    Some interesting notes in the report include:

    89% are SATISFIED with the quality of care they receive

    83% are SATISFIED with the ability to get emergency care

    79% are SATISFIED with the ability to see top quality specialists

    78% are SATISFIED with the ability to get the latest treatments

    And 57% are SATISFIED with the cost of health care.
     
  4. Crabcake Johnny
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    Crabcake Johnny Guru

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    I agree with a lot of that story. First of all I completely disagree with group insurance. Your company owns and controls the plan, not you. You have no choice - your employer can change plans at will or even drop it altogether. If you quit you're screwed: it's Cobra which most people can't afford or you go uninsured. It's a race to find a new job so you remain HIPAA eligible and a waiting period isn't applied to your new coverage. If you're fired for cause you may not even get Cobra offered.

    Health insurance details are not discussed at initial interview levels and more often then not you don't even know the cost until your hired. Then you find out you pay half and it's $650 to add your family. Wouldn't matter if it was cheap. Then three years goes by and you find out you have a new high-deductible plan and now you have to pay more.

    The story also points out something people forget - NO ONE gets free healthcare through work. If you're making $45,000 and have free health you would be making $50,000 without it. It's frick'n figured into your salary!!!

    Everyone should have their own plan and non-underwritten plans should be available to everyone. We pay our own auto, life, and home-owners insurance. I have no idea how even came up with the concept that employers should pay for health. My health has nothing to do with my employer. Should my employer pay for my auto insurance?
     
  5. Sam
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    Sam Founder Administrator

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    I couldn't agree more! I was suprised much more by the force with which he tells it, then with the stupidity of the people he is talking too. Nothing is free. Nothing.
     
  6. sman
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    sman Guru

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    John, how do you propose a business owner who has health issues get coverage without group insurance? Remember, not all states have high risk pools.

    John, you're smart enough to know that if we have non-underwritten plans available to everyone, the cost for everyone would be more. You'd have the healthy subsidizing the unhealthy. I thought you were a free-market guy.
     
  7. James
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    I think he meant that non-underwritten plans be made available for those who couldn't qualify for a regular plan. Now I would go along with that but the cost would be quite a bit, so I would imagine for some public assistance would be needed.
     
  8. sman
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    sman Guru

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    Either way, someone is subsidizing it. Be it through higher premiums or through tax dollars. Heck, even in a group plan the risk is spread among all participants. But if the employer is paying some or all of the cost, it's a fair trade off to the employee. In addition, an employee has the option to not participate in the group plan and get individual coverage.
     
  9. Crabcake Johnny
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    Crabcake Johnny Guru

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    I'm saying what I think SHOULD happen. Currently you're right - non-underwritten plans are not available or they're completely out of the price range for most people.

    Saying that if you're healthy and going into the job market you should get your own plan. If you don't your employer has you by the gonads. You are at his whim on how much you pay, which plan you have, and if you even have a plan in the future.

    I still live in the now. If I run across a small business owner who's uninsurable I recommend a small group plan. It is what it is.

    But I stand by my statement: I hate group coverage. I have a least 4 calls per week that start with this:

    "I'm on Cobra and can't afford it"

    and end like this:

    "I'm sorry but I can't help you."


    I've also love these conversations:

    "I'm a diabetic and my new job doesn't offer health insurance"

    "I'm covered but they want $600 to add my family"

    "We have an HMO and I can't stand it"

    "My employer just switched plans. Now I'm paying $200 more but I have a discount for name brand drugs, but I'm on a lot of medication"

    "I'm laid off and my job says they don't have to offer me Cobra because of the group size. My coverage ends in two weeks and I have three major conditions."

    All of them end with me saying "I'm sorry."

    Group is the worst coverage you can have.
    [/b]
     
  10. Sam
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    Sam Founder Administrator

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    Although group health pays my bills, I too do not like the situation. It, along with the various government programs, clouds the issues in people's minds.
    Otherwise reasonable people, have no idea about the true costs of healthcare, and they expect it to be paid.
    If every single employee was sat down and given the option to choose a higher salary or health benefits, most people would look into private insurance and choose the higher salary. However, most people who have insurance through their job have no idea what it costs them, either directly or indirectly.
     
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