[Rant]Lumenos Health insurance is a Freaking RIP-OFF

the company i almost joined last year had that plan. With them, there was an out of pocket max.

Their first $500 was covered, as you described with the 1k. After that, you were responsible for the next 1k out of your own pocket. And after that, the insurance company covered the rest.

So basically, it made sense if you planned on either spending a little or spending a lot. In addition, they rolled over that $500 if you didn't spend it, so the following year, you could have up to 1k before you had to put in $500 out of pocket.

 

All health insurance is a scam. Doctors should earn a decent wage but no entity should profit from my or your health.

 

my insurance company sucks too.

 

ok, then no entity should profit from anyone's death. government better take over funerals, embalming places, and everything associated with death.

Come on...there is a profit to be made for providing services. If you think insurance in general is stupid and not a service, then that's a different story--but you'd have to apply it everywhere and say auto insurance, life insurance, etc. are all out.

Of course, you're not required to purchase health insurance, but that wouldn't work out very well on your pockets. I get that people want the system changed, but saying no one should profit for providing services in any area is over the top, to me

 

All insurance is a complete rip.

 

Totally agree. Above statement is ridiculous.

 

I think when people think about the average insurance plan, it's different from an HRA. When I hear HRA, I think about people that are basically paying for a bad plan because they know that they'll get sick during the year and use the money in the account. Anyway, read the terms of your insurance, because I don't see how a doctor's office can charge you $250 out of pocket when you're insurance card states $0 as co-payments. I would call them if I were you.

 

It has nothing to do with insurance in general. Having a car is a luxury and as part of the responsibility in owning a car, you must provide auto insurance. Life insurance is one portion of your total financial planning but it is not a necessity.

Eveyone gets sick. Everyone should have the right to medical care. Insurance and pharmacuetical companies have ruined that all in the name of the mighty dollar. It is wrong, it is a scam, and it should be illegal. To many people have zero access to medical care and too many people that do have medical insurance never get the treatment that they deserve due to greed.

We are the only industrialized country to have this bastardized system, we spend more money than any other country on medical care, but yet we rank in the top 30 in terms of the quality of our overall healthcare system.

 

Interesting. How much did you profit from healthcare last year?

 

I agree with MB. Puttng health care in the hands of accountants is/was a terrible idea.

Link

For comparison, admin costs for private for-profit insurance is ~30 cents/dollar. Medicare, interestingly, pays out 98-99% of it's revenue to claims.

 

There doesn't appear to be any shenanigans involved here. Aren't you putting $600 tax free into a Health Care Reimbursement account and your employer is contributing $1000? You then essentially have $1600 to spend on health care that you get reimbursed.

 

lol my friend sells insurance there and says its the biggest scam but continues to sell and makes bank.


lololololol

 

But it doesn't sound like this is an "insurance" plan. It is a reimbursement plan.

 

I guess insurance are like trannies. You better check before you jump to conclusions.

 

Uh, that is actually VERY good coverage. Essentially, it is an $800 deductible with free office visits and prescriptions up to $1,000. Then it's a 90/10 coverage.

Most people would define A plan with a $1,000 deductible and 80/20 coverage with a $25 office visit copay good coverage.

Of course, there are always the dunderheads who think it should ALL be free.

Personally, I'm COMPLETELY in favor of Free Universal Health care. As long as everyone but the destitute have a $5,000 deductible. Office visits would be covered, also.

I think that a plan like that would keep the idiots from taking advantage of "free" stuff, and still make sure we all are covered for serious things.

 

well done

 

I would be happy with something similar to that especially if prescriptions were covered as well.

 

There would definitely need to be a prescription deductible. That would be the most abused area. Personally, I think the current system in place works fine. If you want the latest and greatest medication, you pay for it, otherwise you still get great meds. Just the ones that have been out for ten or more years. That way, scientists are still inclined to produce new medicines and cures. Without the profit carrot, new development would come to a screeching halt.

Think of it this way. Either poorer folks get to receive all prescriptions made prior to 2000, (with new meds becoming available for free every year) or we allow it all to be free and see little future innovation beyond 2010.

IMO, the Gov't can give free prescriptions to the meds whose patent has expired.