Here’s the latest reader rant, along with my response!
Dennis writes: I joined Liberty HealthShare over a year ago. I’m 63, in good health, it costs $199/mo, $500 annual deductible. I never go to the doctor (most are drug pushers). I love cutting out the government and the insurance companies (mafia is a great analogy). Only thing better would be finding a local medical group that offers the $50/mo plan advocated by Sean Hannity, which I’m on the lookout for. Great column, as usual!
My reply: $200/month is $200 too much for me! I tend to not buy things I don’t feel the need for or want. Such as insurance. Like you, I never go to the doctor and am in great health; hence no need of poultice peddlers. So why would I – voluntarily – spend $200 month on something I don’t need? It would be exactly like signing up for a car payment for a car I don’t need. . . .except I’d least have the car. Something tangible. What do I get in return for insurance? Nothing. The money is gone, forever. And it is a lot of money, even at $200/month.
That’s $2,400 a year – out the window. Over 20 years, that is $50,000 out the window.
Is it any wonder why the average person can’t come up with $500 in cash to cover a minor emergency, such as a croaked refrigerator – and has to put it on a credit card (go into debt) to deal with it?
Insurance is a con. All of it.
. . .
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