Tuesday, June 26, 2012
Ten months later
Ten months ago I dropped my medical insurance when it reached $1000/month. That’s long enough to get some idea how that’s been working out for me. My out of pocket expenses for the whole ten months has been $500 for my wife’s medication. She’s on Medicare now and it doesn’t pay for her expensive medications as well as my old insurance did. That still leaves me $9500 ahead of the game.
I was taking the dog for a walk in the middle of the night and fell down a couple stairs off my daughter’s deck. My landing was really awkward and I broke a toe and ripped a flap of skin off the end of my right thumb. Did I go to the hospital? Of course not.
The thing is, if I’d still had insurance, I would not have gone. They really can’t do much for a broken toe. As for the thumb, a good cleaning and a bandage took care of that. The next day I happened to be visiting a paramedic friend of mine. He checked out my thumb, shrugged, and put a new bandage on it. It headed up just fine.
What if I’d broken a leg or something? Then the ER would have to patch me up. If I had to I’d set up a payment plan to pay them back -but at well under $1000/month.
People ask what would happen if I’d have a really major problem. Simple. It would bankrupt me, just like it bankrupted my parents when my mom had cancer. They had “good” insurance, but the copays, travel, and other expenses ruined them anyway.
By January my finances were in good enough shape that I decided to spend some of that money on better quality food. Since I started eating better I’ve lost 30 pounds without even trying. Maybe I’ll spend some of that insurance savings on new hiking boots or a bicycle. Probably both.
I’m feeling great and slowly catching up on my debt instead of making more.