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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (522311)	11/13/2012 1:45:39 PM
From: carranza2	14 Recommendations Read Replies (2) \| Respond to of 793670

Proper risk sharing is easy......insure for catastrophic risks (knowing that for 99% of American populace, even a minor procedure is extremely expensive), require some co-payment, routine stuff on your own, as you say. I had minor surgery last year, ventral hernia repair. The bill was $20K or so, and I was booted out of the hospital as soon as I urinated. I paid $1K. A few years ago, the hospital stay would have been a couple of days. I am having double knee replacements in a few days. The cost will surely run into the $150K range altogether, perhaps more. Am paying $250.00 out-of-pocket because I have top of the line health coverage through a large group. Certainly is better for me than paying full fare. Call me a bludger if you want, but it is utterly rational for me to have the best insurance I can exactly for these kinds of things....and accidents which befall all of us. Health carriers demand discounts and get them. They really do press the providers for the best deal possible. Given the legal regimen prevalent here, it is absolutely, positively necessary to have auto and homeowners liability policies with high limits rather than face the legal expense and exposure to liability that can literally bankrupt anyone involved in even a middling accident. Anyone who owns any substantial assets whatsoever can (and should) protect them cheaply via insurance. I see folks with substantial assets, such as MDs, who have smallish liability policies, all the time. They risk losing a substantial chunk of their wealth to injured plaintiffs regardless of the merits of the case. You run enormous risks if you should get sued, end up in the wrong venue, and are sued by a lawyer who is a friend of the judge. That's the kind of nightmare insurance protects against. And an excess policy is cheap as dirt in most jurisdictions. Properly underwritten risk sharing is a great thing.