Georgia Health Insurance 411

A coin has 2 sides. Sometimes people will flip a coin to make a decision. Heads they do something, tails they don’t. Or sometimes heads and they choose plan A, tails they go with plan B. In November of 2005 one of my clients inquired about health insurance on her 19 year old daughter. “Jane” had no insurance. I quoted a price on a popular plan, the premium was in the $65 range.

Long story short, Jane kept putting off making a decision and never did buy the health insurance.

In March of this year another client called about one of his employees. “Joe” is a 26 year old male, also with no health insurance. I met with Joe and he elected to go with an HMO at $63 per month. To be honest, buying the insurance wasn’t his idea, it was because of a strong suggestion by his employer (my client).

On the first of January, Jane was in a serious car accident. Her fiancé was killed and she was injured. She was admitted through the emergency room and discharged the next day. Her injuries were mostly bruises and cuts but severe enough to keep her home for 3 weeks. Her bills for that 1 day stay and follow up are in excess of $23,000.

She has no insurance.

At age 19 she will file bankruptcy because she lacked insurance and there is no way she can pay for her medical treatment.

Joe did opt for a plan of insurance. His coverage went into effect on the first of April. Eighteen days later he was injured in an off-road accident when his 4-wheeler overturned crushing his right shoulder. He was transported by ambulance to a nearby hospital and admitted through the emergency room. Three days later he was released from the hospital and slated to return a week later for outpatient surgery. He also has at least 2 more follow up surgeries planned and extensive rehab.

At this point he is looking at $40,000 in medical bills and 3 months of rehab. Expect the $40,000 figure to go higher.

Most of his bills will be covered by his $63 premium.

Two people faced with a decision on buying health insurance or putting it off to another day. Each flipped a coin. One lost, the other came out ahead.

Insurance is something you buy when you don’t need it, then pray you never use it.