The other day I was reading an article about a self-employed couple which has decided not to purchase health insurance. Instead, they have chosen to pay cash for all of their doctor visits and medications. They claim this will be cheaper than purchasing health insurance on their own, which would run them approximately $500 a month. They also said they are health conscious and do whatever they need to do in order make sure they are mostly healthy. But I thought that was a rather curious statement. How can someone make sure they are “mostly healthy”?
Yes, one can eat right, get enough sleep, exercise regularly, and avoid unhealthy habits like smoking and too much drinking, but that guarantees nothing. One could still get hit with a major medical problem at any time. Sometimes it comes in the form of a heart attack or a cancer diagnosis right out of the blue. There’s no way to prevent that. While this couple has concluded that they can easily afford to pay for visits to the doctor and prescription medications out of pocket, any long hospitalization would likely bankrupt them. Then what? I’m not sure they have thought this thing through.