Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Re: Going bare on insurance...
Old 09-21-2006, 08:14 AM   #41
Recycles dryer sheets
 
Join Date: May 2005
Posts: 438
Re: Going bare on insurance...

When I was self employed I had health insurance with a $3500 deductible, with co-pay I would be out $5000. Tended to make me careful. But if I had been hurt, I would minimized the long term financial damage. Someone I worked with went bare, ended up selling off several classic cars to cover the cost of his surgery. I prefer to show up with an insurance card in my hand.
__________________

__________________
rmark is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Going bare on insurance...
Old 09-21-2006, 08:29 AM   #42
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Re: Going bare on insurance...

Quote:
Originally Posted by perinova


For health insurance it would be:
Drop insurance when you are sure you won't have a kid anymore. Hop back in when statisticly your health may degrade. Or maybe even only after you are diagnosed with anything. In the meantime invest the premiums.


The problem is that you can buy individual health insurance when you are healthy. Once you buy it they can't cancel you for poor health. If you try to buy when you are older and less healthy, odds are you can't get it or it will be very costly. Also, you will have at least a six month pre-existing condition waiver. And, as many other posters have said, bad stuff can happen to young and apparently healthy people.
__________________

__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Re: Going bare on insurance...
Old 09-21-2006, 10:54 AM   #43
Thinks s/he gets paid by the post
SteveR's Avatar
 
Join Date: Jul 2005
Posts: 2,803
Re: Going bare on insurance...

One more comment on the "Young and Healthy" concept for not needing health insurance.

Accidents happen as do illness and other medical conditions that have nothing to do with health or youth. High deductable maybe but don't go bare unless you are willing and able to pay your way through some pretty expensive bills at the cost of your FIRE dreams.

I would never consider not having some form of health insurance. When DW and I retire we will both have access to health insurance so even if one company retracts the benefit we will still have coverage with the other. Belt and suspenders for sure but with our family history we would be foolish to not do so.
__________________
Work? I don't have time to work....I'm retired.
SteveR is offline   Reply With Quote
Re: Going bare on insurance...
Old 09-21-2006, 11:11 AM   #44
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,384
Re: Going bare on insurance...

I didn't buy health insurance until my kids were born.

I was stupid and feckless; I should have had this board to wise me up.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Re: Going bare on insurance...
Old 09-21-2006, 12:25 PM   #45
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Re: Going bare on insurance...

Quote:
Originally Posted by HaHa
I was stupid and feckless; I should have had this board to wise me up.
Ha
It was a mistake many people make............at least you have it NOW...........
__________________

__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Gaming the insurance system whitestick Health and Early Retirement 8 05-13-2007 09:04 AM
Fed employee life insurance ats5g FIRE and Money 2 10-10-2006 11:44 PM
The book, The New Health Insurance Solution Martha FIRE and Money 20 05-15-2006 11:16 AM
Bad news insurance bill Martha FIRE and Money 6 05-08-2006 10:37 AM

 

 
All times are GMT -6. The time now is 04:20 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.