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birb_cromble  2d ago (text post)   662 thread views

Qeekly Finance Thread - 2026-10-24

A weekly thread to discuss financial matters - from personal all the way up to global.

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Apparently, the average cost of a health insurance plan for a family of four in the United States is now $28k. When I was shopping last year, unsubsidized Obamacare was in that price range. Gallingly, the plans still come with large deductibles that must be met before insurance pays for anything.

So we simply canceled our health plan. Now we're raw-dogging it and have saved probably $20k this year. Might join again for 2027 for anticipated maternity bills.

It feels good not to be subsidizing the bad life choices of others.

Remember how Obamacare originally fined people for not buying insurance because obviously people wouldn't pay outrageous rates to subsidize other people unless they were forced to? Well, there is no mandate anymore. Why are people still buying insurance?

I really don't recommend this. If you are rich then you are likely advancing in age and therefore inevitable comorbidity. If you have kids they can have complications. Also, if you are rich they will make you pay if something expensive happens.

Maybe you get cancer. Maybe you get T-boned at an intersection by someone running a red light and then you end up in an ICU for 4 weeks followed by another 6 weeks of various step down care and end up with a 450k medical bill. Which they will make you pay if you can pay.

If a half a mill in medical debt doesn't make you blink then you can afford to just pay for the health insurance.

It's just not a good bet. Sure, you will probably be fine, but the level of catastrophe that can happen is immense, and just assuming it will never happen to you is not wise.

Paying 30k for 10k worth of insurance is not something I’m interested in doing.

If I get T-boned I’ll happily pay the 450k but I’ll also make sure I don’t pay more than I would owe in a just system. I’ll pay my fair share but I won’t pay their phony rack rates. Since I’ll be paying cash I’d expect a lower rate than an insured patient.

Mostly I don’t want to participate in a corrupt system.

Since I’ll be paying cash I’d expect a lower rate than an insured patient.

This is true to some extent, but it's mostly about an ability to pay. If you can afford to pay you will pay.

With respect to injustice and a corrupt system, you'll be using insurance (ex: Medicare) when you are older, not self-insuring. That's what you are supposed to be subsidizing now. That would make you the corruption you are complaining about.

If you can afford to pay you will pay.

Is that really true? My impression is more like "the bill will eventually be sold to collectors for pennies on the dollar and then you can bargain with them to pay a few more pennies than they paid and it all goes away." Why is that wrong?

They can reduce the bill but they don't have to, and even if it goes to a debt collecting agency thats going to show up on your credit etc. which if you are a person of wealth can be a problem.

It seems like it's only a problem if you aren't a person of wealth. I have good credit, but unless I'm planning on buying a house I can't see it mattering in the near future.

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