I need some advice! Should I get health insurance?

At your age and lifestyle, at least get a catastrophic plan because you never know and I'm sure you don't want to be paying a hospital bill until the age of 50.

Everyone is healthy until they aren't. Get health insurance.

Yeah, it sucks. It's expensive and something you're unlikely to use much and such a scam. BUT without it, all it takes is a wrong step off a curb on a run, then a broken ankle, and you're bankrupt. I know because this happened to a friend of mine.

Some kind of catastrophic plan, at least, is advisable. All it takes is one bad accident and you're left holding the bag.

Unfortunately, the number one cause of personal bankruptcy is unforseen medical issues (62%). As hale and hearty as you might feel, a couple days in the hospital can bankrupt you. Get a policy with a high deductible and an out of pocket max that would not break you and plan on paying for most of your little expenses out of pocket.

You could self insure. Invest the money you would spent on health insurance and then just use it if you need it. And if not, woohoo for investing a lot

Or some hybrid where you still pay for catastrophic insurance and invest the rest.

In the era of COVID, you definitely want insurance.

Renewed Marathoner wrote:

You could self insure. Invest the money you would spent on health insurance and then just use it if you need it. And if not, woohoo for investing a lot

Or some hybrid where you still pay for catastrophic insurance and invest the rest.

^ This.

Paying $600/month for something you will almost certainly not need is stupid. Don't be stupid just because a bunch of stupid people tell you to be stupid.

You might want to get catastrophic coverage just in case. Also if you don't have insurance most medical systems charge way more than if you do. I have seen some insurance negotiated bills 70% or more lower than what somebody without insurance would have to pay.

Blowing Rock Master wrote:

Renewed Marathoner wrote:

You could self insure. Invest the money you would spent on health insurance and then just use it if you need it. And if not, woohoo for investing a lot

Or some hybrid where you still pay for catastrophic insurance and invest the rest.

^ This.

Paying $600/month for something you will almost certainly not need is stupid. Don't be stupid just because a bunch of stupid people tell you to be stupid.

Do you offer the same advice for car or homeowners insurance?

boogie_man wrote:

Yeah, it sucks. It's expensive and something you're unlikely to use much and such a scam. BUT without it, all it takes is a wrong step off a curb on a run, then a broken ankle, and you're bankrupt. I know because this happened to a friend of mine.

I just went in to have an irregular heart rhythm checked out. This was not to the ER I was referred by my primary Dr. The cost for the 30 second EKG was $170. The cost for the Dr to look at it was $416. This was without insurance. So $586 out of pocket for a 15 minute appointment and I was asked to pay before I could leave the office or make arrangements to pay monthly with interest.

My brother had to have a atrial abalation done. His bill before insurance was $181,000. He was only in the OR for this rather straight forward procedure for three hours and he went home 18 hours after he checked in. He has insurance as he is cover by his employer. His final out of pocket cost was $3400.

So waiting to get insurance might seem like a smart decision, but seemingly simple things can happen unexpectedly and then what?

Kind of Old wrote:

You might want to get catastrophic coverage just in case. Also if you don't have insurance most medical systems charge way more than if you do. I have seen some insurance negotiated bills 70% or more lower than what somebody without insurance would have to pay.

This is the opposite of what I have seen. Normally charges are much higher for people with insurance because the insurance is going to cover it.

With no pre-existing conditions, short term health insurance is a great option. United Healthcare Golden Rule - should be $60ish a month.

Blowing Rock Master wrote:

Renewed Marathoner wrote:

You could self insure. Invest the money you would spent on health insurance and then just use it if you need it. And if not, woohoo for investing a lot

Or some hybrid where you still pay for catastrophic insurance and invest the rest.

^ This.

Paying $600/month for something you will almost certainly not need is stupid. Don't be stupid just because a bunch of stupid people tell you to be stupid.

I had a hospital Bill north of $55K when I was perfectly healthy other one random event. Luckily I had insurance.

I don’t blame you for not wanting to pay for something you don’t think you need, but you’ll be glad you have it if you ever do need it.

What a dumb arse question. No, please self select yourself out of the gene pool.