What Would Be The Consequences Of Trying To Live Without Health Insurance For My Family?
My family health insurance is $565 per month through my employer. My family dental is about $50/month. I only make $2400 per month. After taxes and medical deducions, my take home pay is only $1600/month. Almost 25% of my gross pay goes to insurance.
I’ve thought about cancelling medical to help us survive to make sure we have enough money to live on. What would be the consequences
You can easily check your minimal health care rates in internet, for example here – health-quotes.isgreat.org
July 18 2010 08:11 pm | Family Health Insurance
July 19th, 2010 at 3:18 am
Even a minor accident or illness could wipe you out. Only you know if this trade off is worth it. You should see if there are higher deductible plans that are cheaper before you forgo insurance altogether.
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July 19th, 2010 at 3:23 am
You need health insurance just as sure as you need water and air…Find a lower cost, but don’t ever give it up entirely. A car accident, a slip in the tub and you go right to the poorhouse, and don’t come back.
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July 19th, 2010 at 3:51 am
I had a man come into my work just the other day that was over $80,000.00 in credit card debt from insurance issues. His wife had gotten sick and it was fairly minor, but it was a few days in the hospital. In the end if you have children it would be crazy to even think of getting rid of insurance. Children are always getting sick or hurt out of the blue.
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July 19th, 2010 at 4:41 am
Matt
First, potential financial catastrophe. But just as bad, because the costs of visits and tests are so expensive you and the family will stop going for care when you need it. The neglect can be dangerous to all the family and lead to greater problems …. life impacting problems. It a very tough balancing act.
It is a critical decision. Hopefully, national healthcare will make insurance more affordable and available for you, and millions more just like us!
Soccerref
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July 19th, 2010 at 4:54 am
Before you do something as drastic as giving up your medical coverage you should shop around and see whether you can’t find at least basic health care through a private insurer and also apply for CareCredit.
http://www.carecredit.com/
It’s a credit card that is only meant for medical bills and just about any physician will accept it as payment.
Ask your family physician what he would charge for regular Dr. visits and see whether you could afford his rates and get some type of insurance that would only cover major medical not everyday Dr. visits, etc. Check out your local pharmacies and choose one that offers deals on prescriptions.
Walmart has a great deal and Target offers $4 prescription refills for generics. If your families’ prescription needs are basic you can easily outdo your health care plan’s prescription coverage by shopping around.
Or chance it…. and prey that nobody gets sick or has an accident. Whatever you do… don’t give up the dental coverage. With children in the house you need it.
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July 19th, 2010 at 5:34 am
You can easily check your minimal health care rates in internet, for example here – health-quotes.isgreat.org
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July 19th, 2010 at 5:57 am
It depends. Is your family relatively healthy? Do you think you could get by without it? If yes then you should probably cancel it. A lot of people who can’t afford health insurance sign up with companies that give them discount cards for professional health-care providers. I’m not able to afford health insurance right now, so I signed up with Procard International. https://www.procardinternational.com/Ath… I paid less than $20 and got a card which gives me 10%-60% discounts on prescriptions, eye doctors, dentists, physicians, and even local businesses for my whole family. The card doesn’t expire and there’s no limit as to how much you can use it. There’s also no paperwork, pre-activation examination, health restrictions, or age limits. Your whole family can benefit from just one card that costs less than $20. It’s a lot better than spending $565 a month. And at the time I signed up they were offering a Hearing Plan, VIP Health Plan (Discounted Vitamins), Medical Record Storage (Health Tracer), and a Financial Wellness plan all for free along with your card. I’m not sure if they’re still offering those four additional services, but you should definitely check it out.
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Personal Experience and https://www.procardinternational.com/AthenaM4474.