re: Has anyone here ever cancelled their medical insurance they get from their employer?

I have spent tons of money on insurance over the years. It always seemed like a waste right up until my wife's water broke 70 days before the baby got here. The bills were over 700k before I stopped opening them out of curiosity. I only paid my out of pocket max and they took care of the rest.

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that if you have a low-risk lifestyle and are health-literate, you’ll be fine.

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And if you have all of that and get into a car accident, get burned in a house fire, get cancer, or have a heart attack or stroke that low risk people have more frequently than people like to admit, then you’re in debt for the rest of your life, however long.

The only upside to medical debt is that there’s no interest and as long as you make a payment, they cannot send you to collections.

It’s unfortunate that major medical policies are not still available, but at least I have access to an HSA now, which I did not before last year.

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if you have a low-risk lifestyle and are health-literate, you’ll be fine.



This is the key right here.

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Do you drive an automobile? Do you have a favorable genetic history?

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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.

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If one has limited means, it's very helpful.

But many veterans (my father included) rather pay a premium than have to use VA healthcare.

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If people have to use fear to convince you of something, you’re being manipulated.

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Insurance is for the sheep...

I haven't dropped group coverage but I did get a policy outside the company because the company was about bankrupt and would only pay the group policy every few months. Regular dr visit would get denied. There maybe 7months and went through 2 or 3 group providers. Strange thing was holding out the premiums on paychecks and paying the group plan right before the cancel date wasn't illegal. Best I could tell. Shitty but not against the law.

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The only upside to medical debt is that there’s no interest and as long as you make a payment, they cannot send you to collections.

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Since when? This is not true. If you make payment in the amount they want, sure they won’t. Send an amount less than that, you be sent to collections eventually.

You are a fool to risk your financial security and not have health insurance. Get an HSA plan with the highest deductible allowed and contribute the max you can every year. Invest the money for long term growth and never use the money until you absolutely have to. The money is triple tax advantaged and if you die it goes into o your estate as an IrA would..

At retirement age you can take the money as an IRA by paying the taxes as ordinary income. If for medical it is tax free. At retirement age you will need the money for medical expenses. Medical insurance is cheap if you have a catastrophic event that cannot be predicted regardless of what you think your current health status might be..

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Get an HSA plan with the highest deductible allowed and contribute the max you can every year. Invest the money for long term growth and never use the money until you absolutely have to. The money is triple tax advantaged and if you die it goes into o your estate as an IrA would..

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Do this. Our insurance was roughly $1200 a month for a family of 4 with a middle tiered plan. We hardly have to go to the Dr except for yearly checkups. Switched to high deductible plan with HSA. Premium per month is like maybe $4-500. We take the difference and max out HSA. So still getting close to the $1200/month taken out of monthly checks, but we have $8500/year going into an account we can invest in. Look at the max deductible and out of pocket costs and it’s probably close to the $8500.

We pay all healthcare costs out of pocket and save the receipts to reimburse ourselves. I don’t plan to use those until retirement date.

If you have a good local pharmacy use them instead of the chains. My wife’s Adderall is cheaper each month paying cash price rather than the price we were paying when we were using insurance.

Dentist and vision insurance is a scam too. Cash price for visits are close to the amount you pay for insurance for the year. Vision covers yearly eye exams and discounts on glasses or contacts. If you actually have an eye problem that’s considered medical and vision insurance doesn’t cover it. Your health insurance does, that’s if they except your health insurance.