tag:blogger.com,1999:blog-7642929222753173260.post3988342935745078169..comments2023-08-12T02:43:38.927-05:00Comments on Free Market: Health care round upFreeMarkethttp://www.blogger.com/profile/12640525471233108791noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7642929222753173260.post-1669522991188797282009-11-04T09:48:23.730-05:002009-11-04T09:48:23.730-05:00ANON - great link - thanks. That is a STAGGERING ...ANON - great link - thanks. That is a STAGGERING number to think about. <br /><br />That's more than enough money to retire on. I am seriously going to consider stopping my own health insurance (maybe). <br /><br />If you figure only 1% of insured people will get a huge health crisis such as cancer or serious car injury or need an organ transplant, it's no wonder the insurance companies are fatter than hogs. They rake in all that dough and only have to shell out a fraction of it for actual services.PZGURUnoreply@blogger.comtag:blogger.com,1999:blog-7642929222753173260.post-39774733941258750502009-11-03T06:59:49.101-05:002009-11-03T06:59:49.101-05:00That's $557,000 according to:
http://www.mone...That's $557,000 according to:<br /><br />http://www.money-zine.com/Calculators/Retirement-Calculators/Future-Value-Annuity-Calculator/<br /><br />if using 3% annual compounding. Compounding would actually be monthly so the figure would be higher.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7642929222753173260.post-70097469669506742382009-11-02T10:37:52.182-05:002009-11-02T10:37:52.182-05:00BINGO!
The real down side to ANY type of insurance...BINGO!<br />The real down side to ANY type of insurance is that it's all about risk of a possible future occurence.<br />I sat down and calculated that if person starting paying for health insurance at age 25, at $400 a month, by age 75 that person would have paid $240,000!!!! That doesn't even include (1) yearly rate increase (2) co-pays , or (3) prescription costs and other out of pocket costs. If that same person never had a MAJOR health issue, then that money is all down the drain. <br />This is why we need Personal Medical Savings Accounts. If that money was put into a PMSA, but was not NEEDED, that person still has the money and can pass it on to his children like any other personal asset.PZGURUnoreply@blogger.com