Health Insurance Costs

by Dual Income No Kids on January 10, 2009 · 0 comments

As I’ve just finished my first week at work I’m in the mode of selecting insurance policies and the like. Looking into my options I find that they are different than I’ve had in the past.

The good news is that my new employer pays 100% of my premiums. Considering that I was used to paying $596/per pay period at my old employer, this is a savings of $14k annually.

The down side is that they only pay the premiums for me, and if I want to cover James on the same policy it would cost about $550/month, or nearly $7k with dental at another $150 annually.

Given the cost implications for James alone, who has only been to a doctor once in the last five years, this seems like a pretty steep price. Needless to say, we are looking to see what his options would be to get a student plan up at the University. This would cover him basically under emergency situations and certainly be a great deal cheaper.

With the topic fresh on my mind, I can’t help but reflect on what a broken system we have in America. Certainly we have good health care options, and for that I am thankful, but prices of this system have really gotten out of control. I sincerely hope that we will be able to modify our health and insurance structure to be beneficial for all Americans. For obviously if insurance coverage is an issue for someone with our relative financial health and excellent overall health, I can only imagine the difficulty for so many others.

For example, my mother has had a series of difficult dental issues over the last number of years. Now as she gets to the final, hopefully, stage of things she has recently gotten implants for four molars that had previously been pulled. The cost has been so expensive, even with insurance, that she had had to take out a loan for the over $10k price tag to fix her teeth. I find it incredible that it will have cost her more money on her recent dentistry than it has for her car. At her salary being a public school teacher it will take her years to pay off her medical care.

Overall it just feels like a very sorry state. Certainly we don’t have many of the dire health issues that result in a vast majority of the world, but you can’t argue that our system is functioning to the benefit of all.

Best,

Miel

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