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Has anyone here ever cancelled their medical insurance they get from their employer?
Posted on 7/9/26 at 11:59 pm
Posted on 7/9/26 at 11:59 pm
I keep reading stuff where going to the dr with insurance actually costs more than if you go without.
If I did cancel, I’d get something like Medishare to have something.
Just curious if anyone had done it. Pros? Cons?
If I did cancel, I’d get something like Medishare to have something.
Just curious if anyone had done it. Pros? Cons?
12
Posted on 7/10/26 at 12:06 am to King of New Orleans
Probably a good idea if your basically bankrupt proof.
Posted on 7/10/26 at 12:12 am to King of New Orleans
I've not done it, but looked into "direct primary care" which is a subscription service some doctors offer which is a non-insurance path. The subscription covers all visits. Most have a pharmacy and provide your drugs at a reasonable cost. Also, if you need a procedure they are supposed to be knowledgeable of other providers that are non-insurance friendly. Combine that with a Medishare program and you might be okay if you don't have any pre-existing conditions (which they won't cover). A con is that they are not obligated to pay anything while insurance would be. A pro is that you're outside of the system (because screw those guys).
My spouse is not comfortable with the non-insurance path, so we pay and I can't say I like it.
My spouse is not comfortable with the non-insurance path, so we pay and I can't say I like it.
Posted on 7/10/26 at 12:46 am to RoyalWe
I would worry about ER or Urgent Care visits and the need for a hospitalization if I had some type of surgical need, say appendicitis or gall bladder problems. That could be financially devastating without health insurance.
I like the idea of “Catastrophic” insurance that covers ER and hospital costs only, but I would definitely be nervous about not having any coverage.
I like the idea of “Catastrophic” insurance that covers ER and hospital costs only, but I would definitely be nervous about not having any coverage.
Posted on 7/10/26 at 2:12 am to tigerjjs
The Medishare, in theory, would assist with the appendicitis or gall bladder...but again, there is nothing that forces them to pay.
Posted on 7/10/26 at 2:51 am to King of New Orleans
Yes, I did it for awhile. You had jist better hope nothing major happens.
Posted on 7/10/26 at 3:00 am to King of New Orleans
You’ll likely get away with it for a while, but if you get into an accident or have any injury or illness requiring an ER visit, you’ll wish you had insurance.
That said, you should be shopping around every service. Don’t just go to who your doctor recommends. You can save thousands.
That said, you should be shopping around every service. Don’t just go to who your doctor recommends. You can save thousands.
This post was edited on 7/10/26 at 3:01 am
Posted on 7/10/26 at 3:19 am to TigersSEC2010
Car insurance has medical.
Posted on 7/10/26 at 3:19 am to King of New Orleans
Wanna know what’s awesome about being 100% through the VA?
None of this matters.
I just go somewhere for medical stuff and the VA pays for it.
None of this matters.
I just go somewhere for medical stuff and the VA pays for it.
Posted on 7/10/26 at 4:16 am to tigerjjs
quote:
I would worry about ER or Urgent Care visits and the need for a hospitalization if I had some type of surgical need, say appendicitis or gall bladder problems.
That was me last year. I spent my 39th birthday in the hospital and had an emergency appendectomy. My primary insurance covered everything except anesthesia and my gap covered that. $26k was the total billed to my insurance.
Posted on 7/10/26 at 4:43 am to King of New Orleans
quote:
I keep reading stuff where going to the dr with insurance actually costs more than if you go without
You dont have to use your insurance if you go to the doctor even if you have it
Posted on 7/10/26 at 5:42 am to billjamin
quote:
Probably a good idea if your basically bankrupt proof.
I wouldn't take medical or financial advice from someone that doesn't know when to use your vs you're, but that's just me.
Posted on 7/10/26 at 5:43 am to King of New Orleans
Yes, my wife had better insurance from teaching school, I cancelled mine, there was no benefit from having both.
Posted on 7/10/26 at 5:43 am to sgallo3
Lee Zurik Fox8NOLA just did a report on this subject and said paying out of pocket can cost less for many reasons, one being deductible hasn't been met. I am certain that the insurance is responsible for high costs
This post was edited on 7/10/26 at 8:33 pm
Posted on 7/10/26 at 5:49 am to King of New Orleans
Better make sure you don't get cancer or even just some lifelong autoimmune disease. The drugs will wipe you out unless you have FU money. These religious medishare plans will forget your name when they get a million dollar bill for your surgery and immunotherapy. I suspect most cancer treatment facilities would laugh when you tell them that some Christian shared plan is your method of payment. The system sucks but for now just get the cheapest reputable plan with a high deductible then load up your HSA to cover whatever out of pocket expenses you get. The HSA is basically legalized money laundering up to the annual max contribution.
Posted on 7/10/26 at 6:54 am to Bamajedi
quote:
The system sucks but for now just get the cheapest reputable plan with a high deductible then load up your HSA to cover whatever out of pocket expenses you get. The HSA is basically legalized money laundering up to the annual max contribution.
If politicians were smart, they could introduce HSA’s for anyone and not just those without high deductible plans.
Cheapest plan for me was around 300 a month with a subsidy. So I would burn through 300 a month in premiums and still be stuck paying for medical costs up to my deductible of 9k. Does not make financial sense, if I could cash pay or HSA my medical costs it would make too much sense financially and health insurance companies can whither on the vine.
Health insurance is no longer insurance it is a contract for services between you, insurance companies, and the medical providers that are all in it for profit and have huge overhead to maintain profits no matter how much they say they care for you or operate as a nonprofit.
This post was edited on 7/10/26 at 6:55 am
Posted on 7/10/26 at 7:03 am to tigerjjs
Urgent care is unlikely to bankrupt anybody. The real problem is any kind of hospital visit.
Posted on 7/10/26 at 7:04 am to sgallo3
quote:
You dont have to use your insurance if you go to the doctor even if you have it
Troof. I've got a few personal anecdotes that back this up.
quote:
Has anyone here ever cancelled their medical insurance they get from their employer?
Yes. I had the employer cancel the deduction from payroll and then pay me the monetary benefit amount they were spending on their portion of premium. Carried a "catastrophic" major medical policy with high deductible. I am not certain these are around anymore?
Posted on 7/10/26 at 7:05 am to King of New Orleans
what could possibly go wrong
Posted on 7/10/26 at 7:08 am to King of New Orleans
I’m seriously thinking about this and have talked to my doctor, dentist, and optometrist about it. They all told me their cash prices, which were on average 15% less than what insurance pays them. (Not including what I have to pay… like copays)
Looking at medical bills for the family over the past 10 years, we’ve paid about $130K to insurance and have spent around $15K on medical (including what insurance paid). My plan is to drop insurance this October and start a savings account where I will direct what my insurance premium is, and only spend that money on medical bills.
I’ve run these scenarios through ChatGPT and its conclusion is that if you have a low-risk lifestyle and are health-literate, you’ll be fine.
If people have to use fear to convince you of something, you’re being manipulated.
As far as a catastrophic event, I should hopefully have enough in the savings account to cover costs, if not then I’ll get a loan, and if it’s too crazy I’ll file bankruptcy and see y’all in 7 years.
Looking at medical bills for the family over the past 10 years, we’ve paid about $130K to insurance and have spent around $15K on medical (including what insurance paid). My plan is to drop insurance this October and start a savings account where I will direct what my insurance premium is, and only spend that money on medical bills.
I’ve run these scenarios through ChatGPT and its conclusion is that if you have a low-risk lifestyle and are health-literate, you’ll be fine.
If people have to use fear to convince you of something, you’re being manipulated.
As far as a catastrophic event, I should hopefully have enough in the savings account to cover costs, if not then I’ll get a loan, and if it’s too crazy I’ll file bankruptcy and see y’all in 7 years.
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