The great American risk: Gambling with your kids' health
Filed under: Insurance, Kids and Money, Health
This weekend, my 14-month-old, Monroe, had a terrible accident. I'd just finished taking out the recycling, and he and his brothers were playing. I heard glass bumping against glass. Strange, I thought, I got it all, didn't I? A moment later, a sound of broken glass, then my oldest son yelling, then screams. Really, really serious screams. Then there was blood. Lots, and lots of blood.One 911 call and an ambulance ride later, I was thanking all applicable heavenly bodies that, firstly, the enormous gaping cut to his eyelid was not life- or vision-threatening and second, that I had two weeks left of health care insurance. I'm leaving full-time employment to do the freelance thing, and along with it will go my full complement of benefits. I had considered going without for a few months, but this weekend's excitement and the realization that I have three of these danger-prone little boys has me decided to buy emergency health insurance, that will pay out for extreme costs. I'll pay out-of-pocket for regular well-baby visits and my own extremely rare visits to the doctor.
And then I'll be taking the Great American Risk along with dozens of my friends and millions of other Americans: gambling that my kids' health needs aren't more than a $100 here and there. I can't really afford the enormous cost of individual health insurance for my family; depending on the plan the cost starts at $400 a month and skyrocket from there. $5,000 a year plus I have to pay $1,500 to $5,000 deductible? No way man. I'm rolling the dice, hoping my family doesn't end up with any life-threatening diseases, hoping I don't get pregnant again. Forget penny stocks or mortgage-backed securities; the stakes are way higher here in the living rooms and basements of the Regular American. I'd love to hear from other freelancers and part-time parents out there: what have you done?
Reader Comments (Page 1 of 1)
10-08-2008 @ 10:46PM
tricia said...
Our family was in the same situation. My husband has his own business so I carried the insurance at my job, which was about $150 a month for a family plan. When I left my job we picked up private insurance and was paying out $1500 a month and that include co-pays and deductibles. It was insane. Than one day I spoke with a friend who was in the insurance business for years and he explained why we should switch plans and it made perfect sense. He said goto bluecross blueshield of NC, were I live, and look for the plan that is $400 dollars a month. This plan has a $10,000 dollar deductible BUT all well visits are paid for 100 percent WITHOUT a copay or coinsurance. Also, that includes yearly physical for children and all well check baby visits and annual check-ups for women and men and other important yearly testing for them as well. Now you can also enroll in the HSA, health saving account, where you deposit money into the account, which is a tax write off at the end of the year and you do not lose it at the end of the year it simply rolls over. The account is used to pay for any sick visits or rechecks or any health related issues including dental. A credit/debit card is given to you to swipe at the doctors when you have to pay. And if you need maternity you can add on that part to your plan when needed and remove it when completed. Now you may be thinking $10,000 deductible thats crazy we will never reach it, but only a tragic event would get you at that point and you simply agree to pay the hospital a monthly amount that you can afford and it can be as little as $1 a month. Look into it!
Reply
10-08-2008 @ 11:29AM
T George said...
Sarah:
Have you considered medicare?
I know it is for low income families, but some of the HMO's have a paid version, which is much less than expensive plans.
Hope this helps.
T
Reply
10-11-2008 @ 3:53AM
Gianna said...
I'm actually on state sponsored medical insurance, however, your article has truly opened my eyes. While I am still a freelancer, I realized that even if we're off of state assistance in a couple of years, I will still need to keep things like this a high priority. Thank you so much for sharing your experience and I hope your little guy is back to well health soon!
Reply