[quote=ucodegen]
Did anyone try the ‘little exercise’ I mentioned? Take and sum up all the payments you have made into ‘health insurance’ and apply an inside rate of return?.. or would you rather take pot-shots at people.[/quote]
I just did a fast swag on the past 20 years and what I’ve paid in, vs what I’ve gotten out.
For me and my immediate family (covered under my family plan) it’s pretty much a break even proposition. I estimate I’m slightly ahead with insurance vs what I’ve paid in payroll deductions and co-pays.
I’m fortunate that, until this year, my employer was pretty generous in how much they covered. I did not count the employer contribution since that was NOT out of my pocket.
Over the past 20 years I’ve had 2 orthoscopic knee surgeries, physical therapy for my knee, a tumor removed (non cancerous than goodness), two children born. I’ve also had sigmoidoscopy, 2 colonoscopies, and a bunch of mamograms and gyn checks. I had a spider bite get infected, and I had a subcutanious abscess that needed to be taken care of.
I’m on no medications and only see the doctor when I need to other than the periodic mamogram and gyn appt. (And now periodic colonoscopies since I had polyps.) I am aggessive in the prevention – but my family history of cancer warrants it.
My husband has had 1 minor outpatient procedures and some cardiac follow up after a heart scare.
My kids have had the usual bunch of vaccinations/well baby stuff plus ER visits for a bead up the nose for one son and a SERIOUS allergic reacion (HSP type) for the other son. Oh – and 3 sets of ear tubes, various visits for ear infections, etc…
Our family does NOT rush to the doctor. In fact our ped chastised me the last time reminding me that I could bring the boys in more often. I have Kaiser, so she doesn’t get paid extra if we go in.
I paid 100% out of pocket to get genetic testing for the BRCA genes – but since my mom died of ovarian cancer, and my dad, and brother died a few years later, 2 months apart, of cancer – I felt it was money well spent. (And now I have peace of mind that I don’t have the gene… and no explanation of why cancer has hit my family so hard.)
This isn’t the first time I’ve done your exercise… When high deductable HSA plans were rolled out a few years ago I started doing this every year. So far, it doesn’t make sense… but being an anal engineer – I’ll keep doing the math every year.
