Thursday, March 22, 2007

I realize that a lot of the readers of this blog don't yet shave, so this post may not mean anything to you, but for you older, hairier folks, do you feel like medical insurance is a form of extortion?

Medical Insurance is a catch-22. If you have it and don't need it; it's maddening. If you don't have it and need it; it's potentially devastating. If you have it and need it; it's still annoying. If you don't have it and don't need it; it's still too much like dodging a bullet...

And when you throw that "pre-existing condition exclusion" in, then it's really maddening. "You finally know you need it, so you can't have it."

With medicine so expensive these days, another question is begged: If something medical exists, does that mean we have a right to it? You hear about these exotic, psycho-expensive drugs that cure disease X. Does the fact that you have Disease X mean drug companies should give it to you? Does everyone have a right to high-tech medical technology? If it didn't exist, you're out of luck; but by virtue that it does exist, does that mean you should have it?

Insurance companies feed off our own inability (or unwillingness) to plan and budget. I spend about $4500 a year on medical insurance (which isn't bad, really, but throw in the deductible if I need it, and we're up to $10,000 a year, which still isn't terrible, I guess, but I hate paying three bucks for milk, y'know?). If I don't use it, it goes into the insurance company's wallet to keep all my home insurance company.

If I were smart, I'd start looking at purchasing a catastrophic policy and salt away that $4500 (and deductible) in a Medical Savings Plan.

Seems like there's a business opportunity there. Sell just catastrophic and MSPs... hmm...