Just recently ER, need to investigate how to cover family once COBRA expires. Any recommendations?Have full medical benefits so that is not a concern... but if I didn't have that, there would not have been ER.
Generally, dental insurance is a raw deal. Most policies marketed to individuals are not cost effective if they include the "two free cleanings" most people have come to expect. They cleanings are not free; they are covered by the costs of the policy.When I mentioned to my current dentist that I would probably have to look for another dentist when I retire next year due to no dental insurance, he told me that he discounts all his service about 25% for retired customers. At 37 I will be his youngest "retiree."I have heard of a major dental policy (doesn't cover routine maintenance), but I haven't seen a price quote for such a policy.Cheers,terrynor
woodmere12 wrote:Just recently ER, need to investigate how to cover family once COBRA expires. Any recommendations?In simple terms premiums minus claims equal profits for insurance companies. As a result I buy insurance when I can't afford to cover the loss, such as health and liability. I "self insure" when I can afford to cover the loss. This includes (for me) collision on an aging car and dental insurance. If, with a family, you know you are facing something like orthodontia, it may pay.Gary
<<Just recently ER, need to investigate how to cover family once COBRA expires. Any recommendations?Have full medical benefits so that is not a concern... but if I didn't have that, there would not have been ER.>> In Washington State, an insurance law adopted this year requires health insurers to offer health insurance to those with expiring COBRA benefits. I'm not quite sure exactly what the content of that plan is or how it is priced, but it is there in some form. My COBRA benefit has been an excellent deal -- my HMO+Denatal insurance for about $240/month. I have a feeling I will be missing that price when the COBRA benefit expires next February.
In simple terms premiums minus claims equal profits for insurance companies. I hate to say this, but your statement isn't accurate. Aside from life insurance (which is strange beast), most of the time insurance companies lose money on their premiums vs. claims because by the time you add up the direct costs of the claims (money paid out) plus the administration, distribution and other overheead, you are over the amount of premiums collected. The profit largely comes from the companies investing the pools of money waiting to pay claims. Yes, insurance still is a raw deal if you can afford to cover the potential loss, but its not quite that raw a deal.
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