re: Do rich people bother with health insurance?

I've thought about this before, but in reference to SUPER rich people. Like, why would Bill Gates need health insurance?

He likely would not want to abide by the stipulations, such as which doctor to use, etc. So, even if he has insurance through Microsoft, he likely doesn't use it.

The truly rich, wealthy, do not pay for any insurances. They self insure homes/autos so in essence pay themselves while taking income/expense write-offs. Most states have loopholes in mandatory insurance requirements for such. (OK used to be an interest bearing $100k deposit for auto self insurance under mandatory auto insurance requirement law. Jim Inhofe former US Senator even opened and ran a shady insurance corp. for his family and friends).

ETA: Rush Limbaugh frequently talks about a med emergency he had while vacationing in HI. Said the hospitals there begged him to sign up for ANY insurance as they simply had no self-pay methodology on their accounting software and could not comprehend how to take a check for pmt in full.

Trump made it legal to get real insurance that doesn’t let sick people on so my premium monthly went from 300 to like 120

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High deductible health plan and an HSA, so technically, yes.

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Is there anything else now adays? Regular ins today would be considered high-deductible 10 yrs ago.

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Is there anything else now adays?

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not really, unfortunately. I mean they exist, but it costs a shite ton.

You guys and girls crack me up. After all we've learned you still think "Insurance" is about "Health Care"

Just got lucky enough to be reclassified as a federal employee at work. Premiums are under half of what I was paying before.

When you start looking at costs for end-of-life care, can you even come out ahead self-insuring? I guess if you die at 40 driving straight into an oak tree and are pronounced dead right there, you can avoid those massive costs associated with dying, but if you just get old, I'm really curious if the several hundred a month you can save over a lifetime would add up to enough money to cover the second diaper phase.

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The truly rich, wealthy, do not pay for any insurances. They self insure homes/autos so in essence pay themselves while taking income/expense write-offs. Most states have loopholes in mandatory insurance requirements for such.

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Louisiana doesn't have a loophole, exactly. I'm pretty sure that if you don't have auto insurance and are claiming self-insurance, you have to leave bonded money with the state or maybe some other trusted third party to cover what insurance would otherwise pay. That way, if you smack someone, you can't just run off and not pay. The money's already there to make the other driver as whole as insurance would. You can get the bonded money back by surrendering your driving privileges or providing proof of minimum insurance.

I think.

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When you start looking at costs for end-of-life care, can you even come out ahead self-insuring?

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No. Some very routine things that you play like $100 for are several thousands without negotiated insurance rates. Then you bring in any homecare or prolonged hospital stay and you're going to absolutely lose your arse.

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Do rich people bother with health insurance?

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Rich people are rich, because they don't spend cash and are tighter than a frogs a-hole. Which is why they are rich.

They make sure to find best deal on insurance, and when they hit retirement age, not only will have shite load of money, but will suck off the governments tit with SS.