Is Health Insurance REALLY Worth it??

March 19, 2012

Rants

Man, our health insurance is expensive. I can’t believe how expensive insurance, in general, is! It seems that most premiums are becoming out of reach of the average large family. The Hubs and I have been hashing through some of our expenses, trying to slash this or that. Insurance is where we are doing most of the slashing. In New York State, we *have* to have car insurance. And because we still have a mortgage, we also *have* to have house insurance. Add to that all other other little insurances and a good chunk of income goes toward a “just in case” budget! ouch.

I am currently unhappy with our existing “Big Box” health insurance coverage. We almost never use it, except for eye exams and dental exams. The coverage for vision and dental is horribly ludicrous, too. We’re only allowed ONE eye exam every year and ONE pair of glasses every other year. That’s it. And the glasses are covered up to $40. That’s it. Um, hello, Mr. HMO have you seen the cost of glasses?! The frames alone cost $100! And of course, the kids can only choose frames from a certain brand, etc etc. I won’t even go into the lame dental coverage. However, the insurance policies cover IN FULL weird stuff like Viagra, mental health and alcohol abuse stuff, and other things. I wish we could just pick and choose what we wanted. But most health insurance is like cable TV– you’re stuck with the entire package of junk at a super high price.

So I saw with interest this article here: Is Health Insurance Really Worth It? The answer isn’t conclusive. It really, really depends on your lifestyle, your needs, your health and your budget. The article makes the good point that insurance is definitely worth it for a major catastrophe. But that’s the thing– catastrophes are rare. And unexpected. Those “one size fits all” policies are becoming more and more repulsive to me. They are expensive and they do nothing for me. It’s one of the reasons why people flock to alternative companies like Kaiser or other groups. They can get temporary plans, too, something my Big Box HMO does not have. Hmmm.

What do you think? Do you think health insurance is worth it? Would you shop around for a better deal or hoard it all in your own for an emergency?

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