Now that I’m in a new job, Kelly and I spent some time this evening picking out a healthcare plan. Wading through a lot of boring-as-shit details boiled it down to the plain fact that insurance companies suck even more than they used to.
What kept popping up is this whole idea of “coinsurance.” Who came up with that? Basically if you get hit by a bus and the bills top $1 million, your broken, tire-track-covered ass is on the hook for $200,000. And that’s with insurance! “With friends like these,” right?
Healthcare is still broken and the industry is still playing everyone for suckers. If there’s ever a market that is screaming for more regulation – the kind with real teeth that stands up to these kinds of horseshit shell games that are still being played – healthcare is it.
Oh, and my opinion of UnitedHealthcare hasn’t improved any, either.
I agree that health care is still a mess.
That said, many insurance policies with co-insurance do have an out-of-pocket maximum.
For example, the $200,000 might well be limited by a $3,000 or $5,000 out-of-pocket maximum on the policy.
So in other words: You’d be on the hook for up-to $5,000 — after which the insurance covers the rest.
This is not true for all policies, so definitely check it out.
Yes, you are correct. I was bleary-eyed from looking at all the loopholes to note that there is a limit on out-of-pocket expenses.
The out-of-pocket max is important, as Guus said.
Personally, I prefer the percentage-based approach to the co-pay format – but United Healthcare has to be about the worst carrier I’ve ever dealt with.