Obamacare for OTR owner ops

With the cost and level of coverage under obamacare you are probably better off paying for your own healthcare needs and save the premium.

 

The cost of insurance is the amount the insurance pays to providers, plus administration, plus profit. Generally administration is around 20-30%, and profit is less than 15%. So about 60-65% of your premium is used for paying for medical services.

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.

 

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.

If ur in good health the bronze is the way to go. But if you got
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?

It's cheaper going through a state or federal exchange. Because the exchange has negotiated the rates based on projected volume.

Thank you. Infomation is power. Use it your advantage.

 

why do u want to close this thread? This topic is ONLY about heath insurance. It's just other folks trying to hijack this thread. If you stick to the topic then your cool.

 

Mods.... please ban rick.

 

Why did you quote me and then respond with nothing that has to do with me?

 

Ok, but in order for that to work we have to ban you first.

 

After I wrote it I was afraid you might think my name is rick.

 

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.

 

What plan do you have? That is exactly my philosophy.