Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
catastrophic only coverage
Old 01-17-2010, 05:32 PM   #1
Recycles dryer sheets
 
Join Date: Apr 2005
Posts: 463
catastrophic only coverage

I'm wondering if anyone here is familiar with these plans that cover only things like emergency hospitalization in the event of accidents - i.e. acute care only, up to a pretty low dollar limit (I've seen as low as 100K, which as we all know doesn't go all that far these days). The reason I ask is we spend a great deal of time in places like Mexico and Thailand and would prefer to pay for anything chronic, including major stuff, out-of-pocket there and minimize our costs in and exposure to the U.S. health care system.

We've had high-deductible HSA plans in the past but since we never come close to meeting the deductible it's throwing money away and though we are in good health the premiums are so high we have nothing left over for actual preventive health care.

Any experiences much appreciated.
__________________

__________________
kevink 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!

Old 01-17-2010, 08:05 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Feb 2008
Location: Indialantic FL
Posts: 1,197
Have you looked at travel insurance plans? Most have medical coverage etc. lots of companies offer them.
__________________

__________________
JimnJana
"The four most dangerous words in investing are 'This time it's different.'" - Sir John Templeton
jimnjana is offline   Reply With Quote
Old 01-18-2010, 09:06 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,197
Quote:
We've had high-deductible HSA plans in the past but since we never come close to meeting the deductible it's throwing money away and though we are in good health the premiums are so high we have nothing left over for actual preventive health care.
We're in the same boat. However, realize that even a healthy person can have some unexpected medical expenses that will make him/her glad to be paying the $3,500 deductible amount, and not $10,000 or so. For example, minor skin cancer, hernia repair, colonoscopies.
__________________
Al
TromboneAl is offline   Reply With Quote
Old 01-18-2010, 02:34 PM   #4
Full time employment: Posting here.
 
Join Date: Apr 2009
Posts: 731
I think you could consider it as bankruptcy insurance - get something to cover catastrophic illness so you don't get wiped out. While travelling, you can get travel medical insurance - try www.insuremytrip.com they have a selection of plans from different companies.

I seemed healthy when I was diagnosed with cancer... at 47.
__________________
thinker25 is offline   Reply With Quote
Old 01-19-2010, 09:42 AM   #5
Recycles dryer sheets
 
Join Date: Apr 2005
Posts: 463
Thanks all for the thoughts. I've used insuremytrip.com for travel insurance and they are indeed very good.

After much research I did find an ultra high-deductible (25K individual, 75K) family plan with affordable premiums as well as a supplemental accident policy with a $100 deductible to cover really basic (but common) incidents up to 10K in cost. Total premiums for the two of us, 53 and 46 respectively, are under $200 a month. That is still a big chunk of change for two people living on well under 30K a year, but it is reality in the U.S. and as we well know most people that don't have coverage through w*#k are paying multiples of that.

Meanwhile where we are living now, in Lake Chapala, Mexico, we pay $600 total per year for full catastrophic coverage through the national health care system here and happily pay for routine care out of pocket. The decisive difference here is that even conditions that would be financially catastrophic in the U.S. can be paid for out-of-pocket here if you have assets and you'll take a hit but not be bankrupt. A fellow we know (local doctor) had triple bypass surgery and follow-up care for 11K total in the best hospital in the area, while a local woman whose insurance hadn't kicked in dealt with breast cancer treatment and had total costs over two years of extensive treatment around 20K.

Not advocating this path for anyone - just acknowledging how fortunate those who have good coverage really are back home. We keep meeting more and more people who have moved down here primarily due to health care costs, including a couple we just met who realized their total costs for rent and food combined here were less than what they were paying in health insurance premiums back home.
__________________
kevink 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
Providing catastrophic medical insurance for adult children samclem Health and Early Retirement 12 11-29-2009 07:41 PM
Inauguration Coverage, Which Station? Cattusbabe Other topics 10 01-20-2009 05:14 PM
Media Coverage Sundance Kid Other topics 16 08-05-2007 03:25 AM
Universal Health Coverage in MA firewhen Health and Early Retirement 25 07-01-2007 09:24 PM
go without prescription coverage? eyeonFI Young Dreamers 18 07-01-2005 05:20 PM

 

 
All times are GMT -6. The time now is 11:00 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.