But if I had an account full of money I paid to insurance companies, i would be much better off and could actually afford the catastrophic bill. Now I pay insurance, never use it, and will still not have the money for a future catastrophic bill because the insurance company has my money.

2 ...

Report Post

Posted by frogtown

Member since Aug 2017

5066 posts

Posted on 3/2/23 at 3:49 pm to dgnx6

quote:
But if I had an account full of money I paid to insurance companies, i would be much better off and could actually afford the catastrophic bill. Now I pay insurance, never use it, and will still not have the money for a future catastrophic bill because the insurance company has my money

Dude. Many of us here have HSAs giving us a tax break and some investment gains. That is what you should be doing.

The HSA funds are what you use to pay your catastrophic bills.

This post was edited on 3/2/23 at 3:51 pm

0 ...

Report Post

Posted by Jag_Warrior

Virginia

Member since May 2015

4172 posts

Posted on 3/2/23 at 4:49 pm to dgnx6

quote:
But if I had an account full of money I paid to insurance companies, i would be much better off and could actually afford the catastrophic bill.

We can’t predict what the catastrophic event might be or when it might happen… or how much it might cost. Let’s say that you have a heart attack and have to be airlifted to the hospital. You then require open heart surgery and a pacemaker, along with follow up visits with a specialist. Based on what happened to a friend of mine, that bill could exceed $300K. Do you think you could save and be prepared to write a check for that much by not having to pay health insurance premiums?

This post was edited on 3/2/23 at 4:51 pm

0 ...

Report Post

Money Talk - Replies to Post

Return To Board

Page 1

Return To Board