Spiky Cact.us

Helping a friend find better insurance

Posted December 11th, 2009 by Spike

A co-worker of mine doesn’t make much money and has a wife and child to support as well. The company has a great health insurance plan but the premiums to cover his family are too expensive for his lifestyle. He’s going to cancel his insurance with the company. At first he told me he was going without coverage, saying that in each year he would spend less on doctor visits than he was on insurance premiums. This is very faulty thinking.

First of all, you cannot know what the future brings. You don’t know if you’ll have a major medical issue that would cost you 20 times what your premiums cost. That’s one big reason to have insurance in the first place.

Second, having no insurance means that you pay full price for everything. There are no negotiated discounts with the doctor or pharmacist, nothing is taken off the top, you pay it all. By having a health plan you get the benefit of the discount even if your deductible is high.

I went looking for something that he could afford which would give him these benefits. A great insurance searching site called esurance let me browse through the available options according to the family ages, smoking habits, etc. I was able to find him a plan that cost less than half as much as his current plan and offered a 50% split on all bills with the insurance company. No deductible. This was something he could afford and will still give him coverage for a major event as well as the benefit of discounts arranged by the insurance company. Everyone wins and medical financial disaster can be avoided.

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