Quote:
Originally Posted by nickey1952
Amelia G. you are ridiculous, recently my wife broke her ankle while traveling close Shanghai. Our insurance covered air medivac out to Shanghai, First class upgrade airfare back to USA, ankle surgery at the Foot and Ankle Surgery Center at Cedars Sinai, (same as the Los Angeles Lakers use), rehab, total cost = $68,968 surgeons cost $13,500 Nice trade off for 15k. Our deductible $500. It sure beats begging to have industry people pay for that. I speak from experience. BTW after 4 years the talent could of bought a second car with the interest paid.. hmm makes sense. I will lend you money any day at 22%.
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Most people don't vacation in rural China and require first class plane tickets home. Presumably you don't have that kind of bizarre occurrence most years either.
I'm not really interested in borrowing at 22% like the talent you mentioned or at the 300% you pay. I can do basic math, thanks.
So you pay $15,600 every year because you are risk-averse yet you don't save any of your money, so you don't keep $68,968 on hand, even though you can afford the dollar premium of $15,600 every year. Let's do some basic second grade addition here:
I'm assuming you are not a college student. So let's say you've been paying in for 20 years. $15,600 * 20 = $156,000. Let's not even add in the opportunity cost of not being able to use that money for business or even risk free bonds. Say most years you spend $4,000 on medical and then you had this one anomalous year of call it $75,000.
$4,000 * 19 = $76,000. $76,000 + $75,000 = $151,000
So you paid $312,000 plus whatever that money could have earned for $151,000 worth of healthcare.