Yesterday I received the premiums renewal notice from my beloved health maintenance organization (HMO). To say that I jumped through the roof is a misnomer. The increase in premium was almost a $100 per month over the cost of my current monthly premium. Part of the reason for the increase is that I have been reclassified to a different age group. No, not to a younger group (unless I am in a parallel universe).
So, I have to decide what to do. Again, one of those left-right brain decision moments. Is it worth paying $1200 more a year? Huh, that amount would be enough for a nice vacation trip to another exotic land? Veracruz, Mexico? It may be for a new HDTV for my bedroom? I may need to start working again. My partner is laughing at me. “Here you go again, he says….And how much do you have in your financial portfolio?” I don’t know what I’ll do yet. I need to decide how much risk I am willing to take. The HMO offered me cheaper options, but it also means higher deductibles. In the end, that is what insurance companies do, right? Trying to sell you a product based on your fears of losing something.
This renewal notice induced my brain to have a flashback of a TV commercial that I saw a long time ago. It was also about an insurance company. In that commercial, a younger woman beats an older woman to a parking spot. The younger woman tells the older woman that she is younger and faster. The older woman then rams the younger woman’s car, and tells the younger woman that she is older and richer (or something to that effect). So, we are back to that notion that seems to pervade continually through my life nowadays – I am older and could certainly afford to pay for it. Who said that being older has its privileges? Sure, the privilege of paying more.
The Adventures of El Visitador 
You need insurance for everything that would have a major financial impact if it happens. So if the medical coverage you are now contemplating to get rid of protects you against the costs of 6 weeks in hospital with 5 operations, you are better of to pay the $100 per month which you can easily afford.
I am so happy that OS’ insurance will pay for his 6 weeks in hospital and 5 operations which will cost at least €50,000 of which exactly 100% will be paid by his insurance.
And to think I don’t have any kind of insurance….yikes!
Hey Happyamsguy, no I am not contemplating getting rid of my health insurance altogether. It is just whether I should go to a higher deductible and lower my monthly cost. Risk analysis, I guess. I do hope that OS recovers soon.
Ah, Sangroncito, as you read from OS’ costs. It only takes one incident to send your finances down the drain. I suggest you get a Brazilian health insurance, if possible. Peace of mind, no?