jake2011 said:
Harkrider 93 said:
are you planning on retiring soon or more like 10 years?
I wouldn't worry about it if you are 5+ years out. I wouldn't worry about it regardless due to the fact there is nothing you can do but accept what there is. Assume the 1k/mo premium with 5k/yr deductible. If you have enough money for that plus all other bills and fun, then retire.
If health care changes for the worse, you make adjustments then.
As for the health sharing - I have a good friend that runs a pretty large one. These usually have some religious clauses in them. An example he shared was that you get in a wreck, are injured, and had drugs or alcohol in the system, they may not cover your medical bills. If you are good with things like that, then it is a great opportunity to consider.
Ideally would like to hang it up around 50 or so 12 years from now. I would be ok with the religious clauses as we are religious.
I am hesitant to provide further commentary here, but the health sharing ministries have some huge differences between insurance policies. First, insurance companies are subject to regulation by the state in the form of capital requirements, rate structure, and licensing. Obamacare has added a burden on insurance companies to accept customers that are higher risks than the general population, also known as adverse selection. Relatively healthy people look at the rates that are then necessary to cover the less healthy and they balk.
These health sharing arrangements only accept healthy people that commit to certain lifestyle choices (i.e. no tobacco, drugs) but also have relatively few protections for claimants in the case of disputes. Furthermore, a series of high cost claims could easily lead to rising costs that would likely result in fewer payers into the arrangement which could ultimately result in the same problems faced by the current insurance industry (too many sick people, not enough healthy people paying premiums).
There are no free lunches when it comes to insurance. A big reason the costs are lower on health sharing arrangements is because the risk is much higher to the members. Potential members must understand that they can save a buck on monthly health care premiums but that they may find themselves uncovered in the most catastrophic cases.
Even Uruguay is no panacea,
http://www.huffingtonpost.com/internationallivingcom/quality-health-care-at-an_b_5621826.html.