Health Insurance: Tales from the front line

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by CrusaderFrank, Feb 13, 2012.

  1. CrusaderFrank
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    CrusaderFrank Diamond Member

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    My oldest son lives in NY, is in law school and turns 26 later this year. We started looking into health insurance options and HOLY FUCKING MOLY!

    He's a young healthy male take a guess what a single policy costs?

    Here are the fact: Young healthy male, 26, consumes almost no health care resources.

    What would some insurance company charge for his business? What do you think it should cost a month? $50? $75? $100?

    Take a guess, then we'll continue

    If you're an insurance company, what would you charge for that policy?
     
  2. niteowl
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    niteowl Expat member

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    Well, let's see. Twenty years ago, when I was in my early 40's and self-employed, I purchased a major medical policy (sometimes called a "catastrophic care" policy). It had a $2,500 deductible, and a 20% copay up to $8,000. After that, I was covered at 100% up to 2 million dollars. Over the six years I had that policy, I never had a claim - but the monthly premium increased from $70/month to $140/month. So, based on the fact that mine doubled in just six years, I would be inclined to guess that the current price would be approximately $560/month.

    But then, there could be other factors to consider. Men in their forties seldom go rock climbing, or bungee jumping, for instance. If men in their forties buy a motorcycle, it's likely to be a Honda 100 cc, and not a Kawasaki Ninja. I'm not an underwriter, but I'm guessing the likelihood of catastrophic injury could actually be higher for a single male in his mid twenties.

    So, my guess would be somewhere between $500 and $1,000/month.

    Did I win?
     
  3. Mr. H.
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    Mr. H. Diamond Member

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    75,000 pennies/month?
     
  4. editec
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    editec Mr. Forgot-it-All

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    Depends on how his coverage is structured.

    Too much though, regardless of how he structures it.

    Your son's premiums are still another good exmple of why this nation needs to create a single univeral HC delivery system.
     
  5. Mr. H.
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    Mr. H. Diamond Member

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    Wonder why Frank has shied off this thread.
     
  6. Care4all
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    Care4all Warrior Princess Supporting Member

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    my guess is $300 a month.....???
     
  7. Care4all
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    Care4all Warrior Princess Supporting Member

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    as an insurance company, I would need to make money off of the person who is healthy, so I could pay for those who are not healthy....so whatever is charged for your son by them, is a profit for the insurance company.
     
  8. peach174
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    peach174 Gold Member Gold Supporting Member Supporting Member

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    My guess would be around 1,200.00 a month.
    The New Health Care is about forcing the young & healthy to get insurance, or pay a penalty. It is still forcing them to pay into health care.
     
  9. Political Junky
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    Political Junky Gold Member

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    A lot, since the insurance company has to pay their CEO hundreds of millions of dollars a year.
     
  10. strollingbones
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    strollingbones Diamond Member

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    but frankie...arent you for capitalism?
     
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