Health insurance

[EWC88 24]

Since this lovely Obamacare (sarcasm) is happening healthcare providers is a decision people will have to deal with. Currently I am still on my fathers insurance but after my birthday in may I am no longer on it. With that I am now going to need to get insurance so I don't get penalized and all that lovely stuff. My work doesn't offer insurance to non full time employees, and I have been reaching out to them to become full time but nothing yet. I am also currently in college as well.

 

Questions that came to me where:

 

1) College insurance, would this count as being covered and I won't get penalized?

 

2) if I need to look at insurances anyone know of some good ones that won't break bank, heck I would even take a horrible insurance if its cheap, I never am at doctors.

[Howard 538]

The system is perfect for you.  A young healthy guy, the answer is simple - don't get insurance.  The penalty is only something like $95 next year, and they might even waive that the way things are going.  Also you only pay the penalty if you are going to get a tax refund, if you owe money there is absolutely no mechanism for the IRS to actually collect the penalty.  Why do you need insurance?  If you could avoid paying for collision insurance on your car and then get insurance after you total your car that would pay you for the damage that already took place wouldn't you do it?  Well that is how 0bamba Care works.  They cannot deny pre-existing conditions, so you buy the insurance after you need it and save lots of money.

 

Would I actually do this?  No, but that is how they designed this stupid program.

[HBecwithFn7 296]

The system is perfect for you.  A young healthy guy, the answer is simple - don't get insurance.  The penalty is only something like $95 next year, and they might even waive that the way things are going.  Also you only pay the penalty if you are going to get a tax refund, if you owe money there is absolutely no mechanism for the IRS to actually collect the penalty.  Why do you need insurance?  If you could avoid paying for collision insurance on your car and then get insurance after you total your car that would pay you for the damage that already took place wouldn't you do it?  Well that is how 0bamba Care works.  They cannot deny pre-existing conditions, so you buy the insurance after you need it and save lots of money.

 

Would I actually do this?  No, but that is how they designed this stupid program.

 

I would, at least, consider some form of "castastrophic/emergency room" kind of insurance for things like "accidents, injuries," etc.  You don't have to be in poor health for that to happen.  As a cave diver, I have both primary and 2ndary insurance (which covers all the expenses the primary insurer doesn't).  Like "hyperbaric chamber" treatments and "helicopter transport" to the chamber facility (chopper alone being about $5-10K).

[Arbelest 29]

College insurance will cover you but only until you graduate. And as far as cheap insurance goes that obamacare website allows you to shop for insurance rates side by side and compare I think.

[AlDente67 563]

Here is a snapshot of the Gloucester, county offerings from the Obamacare website, just to give you an idea of the rate structure.  It does not say what deductibles and coverage types are included though.

 

I can't paste a clean Excel doc in here, but if anyone wants the full sheet, I can email it to you (it is 7mb)

 

The rates below are for various situations, but the first number applies to a single person around age 27...

 

 

 

NJ GLOUCESTER Silver Health Republic Insurance of New Jersey PrimeSilver EPO Rating Area 1 $330.17 $562.67 $1,115.26 $757.68 $805.26

NJ GLOUCESTER Silver Health Republic Insurance of New Jersey PrimeSilver Child Only EPO Rating Area 1      $200.05

NJ GLOUCESTER Silver Health Republic Insurance of New Jersey CoreSilver EPO Rating Area 1 $337.48 $575.14 $1,139.98 $774.48 $823.10

NJ GLOUCESTER Silver Health Republic Insurance of New Jersey CoreSilver Child Only EPO Rating Area 1      $204.49

NJ GLOUCESTER Silver Health Republic Insurance of New Jersey SolidSilver EPO Rating Area 1 $328.72 $560.20 $1,110.38 $754.37 $801.72 $199.18

NJ GLOUCESTER Silver AmeriHealth New Jersey AmeriHealth NJ Select Local Value Silver HMO HMO Rating Area 1 $264.13 $450.13 $892.20 $606.14 $644.20 $160.04

NJ GLOUCESTER Silver Horizon Blue Cross Blue Shield of New Jersey Advance EPO Silver EPO Rating Area 1 $292.00 $497.62 $986.34 $670.10 $712.16 $176.93

NJ GLOUCESTER Silver Horizon Blue Cross Blue Shield of New Jersey Advantage EPO Silver EPO Rating Area 1 $322.69 $549.93 $1,090.02 $740.54 $787.02 $195.53

NJ GLOUCESTER Silver AmeriHealth New Jersey AmeriHealth NJ Premium Regional Preferred Silver EPO EPO Rating Area 1 $342.90 $584.37 $1,158.28 $786.91 $836.30 $207.77

NJ GLOUCESTER Silver AmeriHealth New Jersey AmeriHealth NJ  Standard Local Value Silver EPO H.S.A. EPO Rating Area 1 $279.55 $476.41 $944.28 $641.52 $681.80 $169.38

NJ GLOUCESTER Silver AmeriHealth New Jersey AmeriHealth NJ Tier 1 Advantage Silver EPO H.S.A. EPO Rating Area 1 $260.40 $443.77 $879.60 $597.58 $635.10 $157.78

NJ GLOUCESTER Silver AmeriHealth New Jersey Cooper Advantage Silver EPO EPO Rating Area 1 $252.52 $430.34 $852.96 $579.48 $615.88 $153.00

NJ GLOUCESTER Silver AmeriHealth New Jersey AmeriHealth NJ Premium National Access Silver POS+ POS Rating Area 1 $360.11 $613.70 $1,216.40 $826.40 $878.28 $218.20

[Pythagoras 2]

Yes, college insurance plans are sufficient for Obamacare standards (I just went through this myself). For example, Rutgers contracts directly with United Healthcare so the college health insurance is actually UHC policy. You even get a card straight from UHC- it's exactly as if you are insured through your job, but instead of having it through XYZ Company, you have it through the school.

 

Depending on the price, this may not be cost-effective. My college student plan was a little barebones for my taste (I have asthma and have had a few surgeries so I need good coverage for checkups), but it is definitely sufficient to avoid the penalty.

 

I don't know what your school situation is, but Rutgers forces all of its students above a certain credit number (I think above halftime but don't quote me on it) to have health insurance - either through them or an external source - as a condition of enrollment. Check if your college has any requirement like that so you don't get burned when you try to register for class next term.

 

If no requirement, then like others have said- Obamacare has no teeth unless you get a refund, so going without insurance may be an option for you without penalty. But the upside of college insurance plans is you can go to the student clinic as many times as you need without copay (at least at RU) because it's all paid for by student fees well over the cost to run the place. Definitely consider using student clinic for non-dire concerns.

[Malsua 1,422]

I'd opt for the penalty.  I went through my 20s with no health insurance.   If you get a chronic condition, sign up then and they can't deny you and by law they can't turn you away for emergencies.  Why bother wasting money paying for a bunch of leeches in inner cities?

[EWC88 24]

I go to Rowan University. My only thing is if I go with there insurance, I get dropped in May, can you sign up for the insurance at school at any time or has to be at beginning if first semester?

[JackDaWack 2,895]

It's usually at the beginning of the school year. And most colleges require health insurance for full time students

[raz-0 1,259]

I go to Rowan University. My only thing is if I go with there insurance, I get dropped in May, can you sign up for the insurance at school at any time or has to be at beginning if first semester?

 

You may already be paying for it. I attended two different universities in NJ and getting out of it for a full time student was not an option. 

 

You should be able to get in at any semester boundary.  

[Smokin .50 1,907]

When my son went to Rowan (graduated 2 years ago last May) full time, it was itemized on his invoice automatically.  We never signed-up for it.  He did make use of it though:  A couple sinus infections and an allergy attack from the Maint. Dept. blowing cut grass into his ground floor dorm.  Ended-up saving us the trouble of locating a Doctor down there, since he just went to the Infirmary.

[EWC88 24]

Well I get the option to waive that fee if I have insurance. So in the beginning of semester I waived the health insurance since I am on my fathers. But come May 15th (just incase you guys want to give me a birthday gift lol) I won't be on his plan.

[Arbelest 29]

I go to Rowan University. My only thing is if I go with there insurance, I get dropped in May, can you sign up for the insurance at school at any time or has to be at beginning if first semester?

 

Welcome fellow student, seems there is a couple of us on here.  Also I thought you could stay on your parents insurance until 26.  I know I am unless I get  a F/T job before that.

[EWC88 24]

Arbelest thanks for stating my future age this may! Lol Jk.

 

But yes you can stay on it till your 26 and this may I will be 26. Yea I know I should be done college, I beat myself up over it on how I'm still in. Was just the beginning part of college that I never ared about so I'm paying for it now. Luckily although my job is not giving full time, I get 39 hrs. Also graduating with 3 majors does take sometime lol and I look at it to help me feel a little better, my friend who already graduated still haven't found their career jobs.

[Newtonian 453]

1) College insurance, would this count as being covered and I won't get penalized?

 

2) if I need to look at insurances anyone know of some good ones that won't break bank, heck I would even take a horrible insurance if its cheap, I never am at doctors.

 

First check what the "college insurance" covers, where it covers you, and during what part of the calendar year

 

DO NOT GO WITHOUT SOME FORM of HEALTH INSURANCE. Pardon my French but that is STUPID beyond belief. Here's why.

 

If god forbid you get into an auto mishap, or suffer an accident, or require hospitalization for any reason for even a week, YOU and YOUR FAMILY (if you're a  minor) are on the hook for the entire bill.

 

My next door neighbor contracted an infection after foot surgery. Seven days at Newton Hospital. The bill was $72,000. This is no joking matter. (Luckily she has great insurance). My wife recently had a kidney stone removed. Her insurance gave the surgery center and doctor about $3,500. The actual bill -- the one we'd have to pay if we had no insurance -- was $25,000 for prepping, a 20 minute procedure, and maybe two hours in the recovery room.

 

What should you do, now that you've heard the lecture?

 

Get a policy that covers catastrophic events only, if they still sell them. Sit down with your parents, your bank accounts in hand, and determine how much you can afford to self-insure. If it's $5,000 then get a policy with a $5,000 deductible, etc.

 

Repeat: DO NOT GO WITHOUT HEALTH INSURANCE.

[thug the bunny 0]

I'd opt for the penalty.  I went through my 20s with no health insurance.   If you get a chronic condition, sign up then and they can't deny you and by law they can't turn you away for emergencies.  Why bother wasting money paying for a bunch of leeches in inner cities?

 

Wouldn't he be one of those 'leeches' by not getting insurance?

[Newtonian 453]

I'd opt for the penalty.  I went through my 20s with no health insurance.   If you get a chronic condition, sign up then and they can't deny you and by law they can't turn you away for emergencies.  Why bother wasting money paying for a bunch of leeches in inner cities?

More very bad advice.

 

If this kid gets into an accident or falls ill suddenly he will not have time, while he's bleeding to death or roasting with a 104-degree fever, to sign up for anything. He'll be uninsured and fully on the hook.

 

Those scenarios are much more likely for a young person than suddenly developing heart problems or diabetes.

 

BTW, my recommendations have nothing to do with Obamacare, which is an obvious joke. It's just common sense.

[Wolfy 51]

The system is perfect for you. A young healthy guy, the answer is simple - don't get insurance. The penalty is only something like $95 next year, and they might even waive that the way things are going. Also you only pay the penalty if you are going to get a tax refund, if you owe money there is absolutely no mechanism for the IRS to actually collect the penalty. Why do you need insurance? If you could avoid paying for collision insurance on your car and then get insurance after you total your car that would pay you for the damage that already took place wouldn't you do it? Well that is how 0bamba Care works. They cannot deny pre-existing conditions, so you buy the insurance after you need it and save lots of money.

 

Would I actually do this? No, but that is how they designed this stupid program.

Howard the penalty for the first year is $95 or 1% of your household income whichever is greater.

 

The third year the penalties max out at $695 or 2.5% of your household income whichever is greater.

 

 

Who is John Galt?

I am so excited I figured out how to change my signature.

[Howard 538]

Howard the penalty for the first year is $95 or 1% of your household income whichever is greater.

 

The third year the penalties max out at $695 or 2.5% of your household income whichever is greater.

 

 

Who is John Galt?

I am so excited I figured out how to change my signature.

That is true, in theory it will go up - unless they change it, defer it, eliminate it, or raise it.  We are talking government here, you never know what will change.

[JackDaWack 2,895]

You may already be paying for it. I attended two different universities in NJ and getting out of it for a full time student was not an option.

 

You should be able to get in at any semester boundary.

There is always an opt out document you need to sign and provide your coverage. It's offered by every state school. You are automatically enrolled unless you provide the school with your coverage info.

[greatgunstatenj 32]

More very bad advice.

 

If this kid gets into an accident or falls ill suddenly he will not have time, while he's bleeding to death or roasting with a 104-degree fever, to sign up for anything. He'll be uninsured and fully on the hook.

 

Those scenarios are much more likely for a young person than suddenly developing heart problems or diabetes.

 

BTW, my recommendations have nothing to do with Obamacare, which is an obvious joke. It's just common sense.

This!

 

Not having at least basic insurance is crazy if you can afford it. On the off chance you suffer a serious injury and need an ambulance ride (or medevac) and a stay in the hospital. You could be tens if not hundreds of thousands of dollars in the hole within a week! 

[Newtonian 453]

This!

 

Not having at least basic insurance is crazy if you can afford it. On the off chance you suffer a serious injury and need an ambulance ride (or medevac) and a stay in the hospital. You could be tens if not hundreds of thousands of dollars in the hole within a week! 

Another voice of reason. 

[djg0770 481]

Another voice of reason. 

 

Really?  Insurance is just a game of chance with some actuaries thrown in where the insurance company is betting against you.

[DirtyDigz 1,811]

... On the off chance you suffer a serious injury and need an ambulance ride (or medevac) and a stay in the hospital. You could be tens if not hundreds of thousands of dollars in the hole within a week! 

 

 

Why is it in this whole debate very few acknowledge the elephant in the room?  The arguments go round and round about who should pay, how they should pay, how to allocate the costs among the population, but very few look seriously at why the costs are so frigging high!?

 

A big fat medical leech has attached itself to the US economy, and we're all trying to figure out the best ways to let it continue sucking blood?

 

Read:

 

http://truecostofhealthcare.org/

 

and read:

 

http://www.uta.edu/faculty/story/2311/Misc/2013,2,26,MedicalCostsDemandAndGreed.pdf  (PDF)

[Newtonian 453]

Really?  Insurance is just a game of chance with some actuaries thrown in where the insurance company is betting against you.

Of course. The scams are the soup-to-nuts plans. That's where the insurers make their big $$$.

 

Imagine what auto insurance would cost if it covered you for events around the same price level as a doctor visit ($60 to $120) or an antibiotic prescription ($7 to $125). What would it cost to insure yourself for minor dings, running out of gas, a flat tire, periodic car washes?

 

When purchasing insurance you have to arrive at some accounting for risk exposure: likelihood vs. consequences. Let's say the price of catastrophic insurance for this guy is $2000 per year. The likelihood of him getting ill is very low, but the consequence of not having it is having his life ruined and his family's savings wiped out. One could even think of situations where follow-up care would be denied, with even more horrible consequences.

 

If you go here: http://aspe.hhs.gov/health/reports/2013/marketplacepremiums/ib_marketplace_premiums.cfm you'll see that a man in his 20s pays about $130/month for catastrophic coverage. That's less than $1600 per year.

 

Ask your parents to kick in some of that, and you pay what they can't. Don't be a chump.

[greatgunstatenj 32]

Why is it in this whole debate very few acknowledge the elephant in the room?  The arguments go round and round about who should pay, how they should pay, how to allocate the costs among the population, but very few look seriously at why the costs are so frigging high!?

 

A big fat medical leech has attached itself to the US economy, and we're all trying to figure out the best ways to let it continue sucking blood?

 

Read:

 

http://truecostofhealthcare.org/

 

and read:

 

http://content.time.com/time/magazine/article/0,9171,2136864,00.html

I agree the costs are astronomical, arbitrary, and bullsh*t with no changes in sight. That being said that is exactly why you need insurance! The first link is great info but most people don't have the time, energy, or ability to ferret out the true cost of their medical care and then haggle with the provider. I haven't read the time article, had to search out a PDF of it because Time.com has a paywall.

 

From your first link  "Insurance is necessary to cover any cost that people would have too much trouble covering themselves. Medical costs are among the most common reasons for bankruptcy in this country which underscores the need for health insurance. Knowing exactly how much insurance you actually need could save you thousands of dollars and that would decrease the insurance company’s profit by just as much. So the more confusing they make the system, the more they profit."

[DirtyDigz 1,811]

So continue to ignore the root of the problem (medical costs) and instead hack away at the branches (make sure everybody has insurance).  Sounds like a great plan of attack.

 

Once everybody with a pulse is hooked up as a revenue provider to the medical industry via insurance premiums (I'm seeing scenes from "The Matrix" here), do we *THEN* do something about medical costs?

[Howard 538]

The only way to reduce costs is to prevent trial lawyers from being the leaches of society.   If they had to pay the costs of the winner if they lost it would eliminate many suits.  It would allow doctors to prescribe tests that are needed medically, not the ones they feel they need to have for defensive purposes in case they get sued.  Also make it so that when one sues they get compensation only, any punitive amounts get paid to victim's funds only and lawyers cannot touch those amounts either.

[DirtyDigz 1,811]

...  It would allow doctors to prescribe tests that are needed medically, not the ones they feel they need to have for defensive purposes in case they get sued.  ...

 

From the links I provided above:

 

 

Another question that remains is: To what degree does the fear of malpractice add to medical costs? Are doctors ordering a lot unnecessary tests and running up medical bills to avoid being sued? It's certainly possible. Fear leads to irrational behavior in any profession. And, if true, I dont know how such an effect could be verified or quantified. It's important to remember, though, that the only time a doctor could be sued for not ordering a test would be if that test would have revealed a problem the doctor missed. In other words; not ordering a test that should have been ordered; which, by the way, is the definition of malpractice.

[greatgunstatenj 32]

So continue to ignore the root of the problem (medical costs) and instead hack away at the branches (make sure everybody has insurance).  Sounds like a great plan of attack.

 

Once everybody with a pulse is hooked up as a revenue provider to the medical industry via insurance premiums (I'm seeing scenes from "The Matrix" here), do we *THEN* do something about medical costs?

 

HUH? What are you talking about? Who is ignoring it?  I'm agreeing that the costs are ridiculous. However, there is no solution in sight. I'm not saying don't seek one a solution. What I'm saying is, in the meantime it's financially prudent to do a "CYA" and buy some insurance.

 

Obviously if we could mitigate the root cause it would do wonders for providing healthcare to many more people because it would actually be affordable. The ACA isn't going to do this. If you have a workable solution, by all means, share it.