Hear me out on this, please.
Let’s say that I spend $5k on health insurance in a year, but don’t go to the doctor or have any medical issues in that year. Where does my money go? It disappears. I basically just gave away my money, and received nothing in return. However, if I took that $5k and simply put it into a personal savings account instead of giving it away to a health insurance provider - that money stays right there if and whenever I decide to use it. It even collects interest.
I realize that with a health insurance provider, you’re (supposedly) getting discounted rates on medical services - but if your money is just disappearing into thin air if you don’t happen to need those medical services in a given year, are you really saving money? It just seems like a really big scam to me - what am I missing?
its a risky gamble, if you suddenly get injured, or have a severe infection you will be paying OUT OF THE POCKET from a general hospital, and its many times more than paying multiple months of insurance. same goes for dental care, if you have sudden tooth pain, if you are lucky to find emergency dentists, they can charge several hundred for a limited exam w/o insurance. you can try free clinics, or universities for "healthcare’, but often time they are booked weeks to months in advanced and they take a long time to register you as a new patient, due to them being students which have priority over providing dental care.
let only prescriptions are very expensive wholesale/retail cost, even if you use a coupon for it somehow. my parents opted of not paying dental care 1-2years and they had worsening teeth issues, and they ended delaying care and it costed alot more now since it precipitated into root canals, and implants.
and yes general healthcare insurance is quite scammy. UHC being one the worst offenders out there. its also political asf since health insurance has a vested interest in discouraging any laws for universal or regulated heatlhcare cost.
the scammy part is most insurance have DEDUCTIBLE you might reach before covering some of your cost, and OOP, out of pocket maximum where you pay a certain amount each year max, then they will 100% cover all your medical costs. most people dont reach these maximums, so they pay partially or full price for certain things.
this all depends on your INSURANCE you got. dental insurance is not bundled with healthcare insurance, must be bought seperate, and they have thier whole own can of worms to deal with.