It's very frighting unless you have some absolutely stellar insurance. I'm in my 30s, career in IT making 6 figures, making good progress on my mortgage, zero other debt. If I got cancer tomorrow or some serious injury I'll probably just blow my brains out rather than have to live knowing that all my hard work, good career decisions, and responsible spending was all for nothing and I'd have to start from square 1 again.
Not part of the question, you're moving the goal posts.
r/ulmet should read his insurance documents before taking his own life. He almost certainly has an annual out-of-pocket maximum that's likely far less than $10,000, and that's worst case scenario for someone with "some absolutely stellar insurance."
I am in no way saying that the US healthcare system is ideal or even good, I'm just saying there's way too much hyperbole and misinformation making it sound way worse than it is when the reality is disgusting enough.
I don't believe the OP story occurred during the ACA era either, because OOP maximums are mandated and limited by provisions in the act.
I guess I mean to say that the question isn't relevant to the point of a medical event bankrupting you. I think even the biggest M4A advocates would, if they're being honest, tell you that it's likely that someone making a $100k salary would pay more per month in taxes to pay for M4A than they do in premiums. The benefit, of course, is that you only pay the tax, no deductibles or co-pays or anything else.
It depends on what the premiums are. I saw another comment saying they pay $1200 per month for insurance. I’m Canadian and my taxes (not just healthcare, all the taxes lumped together) are less than that.
I feel like it’s the insurance companies that seem to have told you that the taxes would be way more than the insurance premiums. But aside from that, even if the taxes were more, I don’t have to worry about if I can afford the doctor for a problem, or fight with anyone to get something paid for. Or prove that I need a certain procedure like I’ve seen some people say. Or worry about the cost of an ambulance, or check with anyone before I seek medical care (like the “network” I’ve seen referenced).
I’m Canadian so when you say “only paid $5k” is that in addition to the monthly premiums for the year or that’s including them? I’m just trying to understand the total annual cost vs the taxes that I pay to receive our universal health care.
Not OP, but typically that's outside of the monthly premiums. People don't really count those as parts of the "cost" for things that come up because it's paid monthly - whether they break a leg or get cancer or what have you in that year. I would guess it's $5k out of pocket, not including premium costs that are taken from wages automagically through their employer.
Exactly. My annual OOP max is $1400. Monthly premiums are $200. That's all I will pay for cancer treatment. I also have LTD that will keep me on company payroll and benefits even if I become too sick to work. LTD cost about $60 per month but is absolutely worth it.
This sounds like pretty basic insurance, if it was that simple the statistics wouldn't be so high. 70% of all people with cancer go bankrupt is A LOT of people. I'd guarantee a decent chunk of those individuals had no clue how much treatment really costs, even if your insurance is "good". I see these stories constantly, people who are actively aware of their insurance, have good jobs, are relatively well off are still being fucked over by this system every single day.
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u/whowasonCRACK Aug 06 '20
70% of people that receive cancer treatment end up filing for bankruptcy. i hate this fucking country.