Is health insurance actually a scam?

YES, it definitely IS a scam. Imagine being a type 1 diabetic since you were 26 months old, like me, for 56 years 2 months and counting. I also do not qualify for disability payments or subscription help, because I have too many financial assets. I've been out out of glucose test strips for two days.

It may take my bank another 24 to 48 hours to process the deposit that I was assured that was made this morning. I'm under 65 years old and over 55 years old. AM I Pissed off???YES! At least I TECHNICALLY paid the electric bill on Sunday so my service was not cut-off yesterday.

Health Insurance Is A Scam

The older you get the less of a "scam" you will think it is. I had my first major surgery in 1975. I will have another major operation (total knee replacement surgery) Monday. After 3 or 4 days in the hospital I will be going to a rehab facility for two to three weeks. Have had other surgeries in between. I see my family doctor 4x a year for diabetic check-ups and other doctors as needed. Trust me, as far as I'm concerned health insurance is worth every single penny I've paid into it. All those years of paying into it (since 1967) is paying for my health care now. The past two years alone I've gotten more out of it then I've paid into it for ten years.

Hope that you aren't in a car accident - or any kind of accident for that matter - or that you don't come down with a chronic illness or that you don't become disabled. It can happen to anyone - even you. Insurance is peace of mind. Hopefully you will be a healthy individual and will have little need for it but the odds are that as you age you will be mighty glad you have it.

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RE:

Is health insurance actually a scam?

I have had the same blue cross policy in place for about 8 years. between my employer and me, they get about $140.00 a week from me - making it one of my highest expenses.

$140.00 times 52 weeks in the year times 8 years of employment = about $58,240.00 that has been paid for my health...

Yea, I think it's better to just stash some money away yourself... in most cases when you add it up; the total sum of scheduled payments is higher than the total reimbursements that are paid out. And there isn't any of the nonsense, like that annual deductible.

Don't forget obama is "looking out for you" and obamacare is going to force higher premiums and force people to have health ins.

Just have (God forbid) one serious car accident or come down with cancer THEN see if you feel the same about the insurance.

That's why you should work for an employer that is smart enough to do an HSA instead.

Legally no although it makes me wonder.