With the cost and level of coverage under obamacare you are probably better off paying for your own healthcare needs and save the premium.
Obamacare for OTR owner ops
Discussion in 'Ask An Owner Operator' started by double yellow, Sep 29, 2015.
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That sounds like a bad deal, unless you realize that the insurance companies pay only about 30-40% of the list price you would pay. So, even actuarially, the 65% discount you get by buying your service through insurance is better than the 35% waste in the insurance process.
The problem with the price of insurance is not Obama, its hospitals that think nothing of charging $20,000 for an overnight stay.Studebaker Hawk Thanks this. -
USER] -- what would you recommend for coverage for normal illnesses while on the road (outside California)?[/QUOTE]A bronze plan for simple illnesses. High deducible. Can u afford the out of pocket cost? Deductibles can be as high as 5k. But remember u pay the doctor, prescriptions, copays.
existing issues, then you want to rethink your position. Don't u want to reduce your out of pocket expenses if something catastrophe illness hits u?
Last edited by a moderator: Oct 1, 2015
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Mods.... please ban rick. -
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Fajo, MJ1657, HalpinUout and 2 others Thank this.
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After I wrote it I was afraid you might think my name is rick.icsheeple, MJ1657 and Oscar the KW Thank this. -
Still a fan of the high deductible catastrophic medial plan (read that as cheaper premiums) tied to a medical savings account deal I have had for several years. I pay for the smaller stuff from the MSA and get some good discounts. Cash is king.
Example I have used before. Bad case of flu, couldn't retain enough oxygen and collapsed. Wife took me to ER. Had EKG, Blood gas monitor, X-rays. Spent 4 hrs in ER. Determined I needed to be in hospital overnight. Oxygen, medication, Respiratory Therapy every 2 hrs, room, breakfast. Two different docs... one in the ER and the one who checked me while in hospital room. Discharged home the next afternoon. Now add all that up, and most likely we would be discussing several thousand dollars. My cost, paid for with cash out of the MSA account without insurance paying anything, totaled $895. Equal or cheaper than most folks pay for premium for a month for a family of 4 on a traditional 80/20 medical plan.
Nice thing about the medical savings account, everything is a tax deduction... premiums of the medical insurance and all contributions to the MSA. So I don't have to play the "7.5% of adjusted gross income" game on my taxes. I get total 100% deduction of all medical costs.Oxbow, vikingswen, wsyrob and 1 other person Thank this. -
What plan do you have? That is exactly my philosophy.
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