Best of the Week
Sun 19th Nov 2017
Featured Articles:
The Social Security Inflation Lag Calendar - Partial Indexing - 17th Nov 17 - Dan_Amerman
The One Chart All Investors Should See Before 2018 - 13th Nov 17 - Ian Jenkins
 
Electronic Gold: The Deep State’s Corrupt Threat to Human Prosperity and Freedom - 7th Nov 17 - Stewart_Dougherty
The Stock Market- From Here to Infinity? - 6th Nov 17 - Plunger
The US Dollar Reports of its death have been greatly exaggerated - 6th Nov 17 - Plunger
Markets At the Junction of Risk ‘On’ and Risk ‘Off’ - 4th Nov 17 - Gary_Tanashian
Gold Stocks Winter Rally - 3rd Nov 17 - Zeal_LLC
Government Finances and Gold - Cautionary Tale told in Four Charts - 2nd Nov 17 - Michael_J_Kosares
Fragile Stock Market Bull in a China Shop - 31st Oct 17 - James_Quinn
Sheffield Leafy Suburbs Tree Felling's Triggering House Prices CRASH! - 29th Oct 17 - Nadeem_Walayat
Fed/ECB Strangle Stocks Bull Market - 28th Oct 17 - Zeal_LLC
  Next-Generation Crazy: The Fed Plans For The Coming Recession - 19th Nov 17 - John_Rubino
Morrisons Christmas 2017 More Points Bonus Last Chance! - 19th Nov 17 - HGR
Universal Credits Christmas Scrooge Nightmare for Weekly Pay Recipients - 18th Nov 17 - N_Walayat
  UK Financial Markets: Pros and Cons of Being a Private Investor - 18th Nov 17 - Dividend Investments
  SPX Cycle Concern - 18th Nov 17 - SurfCity
Perspective on the Gold/Oil Ratio, Macro Fundamentals and a Gold Sector Bottom - 18th Nov 17 - Gary_Tanashian
Facebook Traders: Tech Giant + Technical Analysis = Thumbs Up - 18th Nov 17 - EWI
Games Betting System For NCAA Basketball Sports Betting - Know Your Betting Limits - 18th Nov 17 - David_Morgan
Universal Credit Doomsday for Tax Credits Cash ISA Savers, Here's What to Do - 18th Nov 17 - Nadeem_Walayat
Gold Mining Stocks Fundamentals Q3 2017 - 17th Nov 17 - Zeal_LLC
The Social Security Inflation Lag Calendar - Partial Indexing - 17th Nov 17 - Dan_Amerman
Bitcoin Invalidates Breakdown - 17th Nov 17 - Mike_McAra
  The Fed Isn’t “Confused” About Inflation… It WANTS You In the Dark! - 17th Nov 17 - Graham_Summers
Mystery of Inflation and Gold - 17th Nov 17 - Arkadiusz_Sieron
Stock Market Ready To Pull The Rug Out From Under You! - 17th Nov 17 - Enda_Glynn
  The New US-Chinese Globalization Opportunity - 17th Nov 17 - Dan_Steinbock
Crude Oil – Gold Link in November 2017 - 17th Nov 17 - Nadia_Simmons
Play Free Online Games and Save Money Free Virtual Online Games - 17th Nov 17 - David Morgan
Stock Market Crash Omens & Predictions: Another Day Another Lie - 16th Nov 17 - Sol_Palha
Deepening Crisis In Hyper-inflationary Venezuela and Zimbabwe - 16th Nov 17 - GoldCore
Announcing Free Trader's Workshop: Battle-Tested Tools to Boost Your Trading Confidence - 16th Nov 17 - EWI
Instructions to Stop a Dispossession Home Sale and How to Purchase Astutely at Abandonment Home - 16th Nov 17 - David Morgan
  Stock Market Last Time This Happened - Consumers Are Both Confident And Broke - 16th Nov 17 - John_Rubino
Trump’s Asia Tour: From Old Conflicts to New Prospects - 16th Nov 17 - Dan_Steinbock
Bonds And Stocks Will Crash Together In The Next Crisis (Meanwhile, Bond Yields Are Going Up) - 16th Nov 17 - JARED DILLIAN
A Generational Reset That Will Redistribute Wealth to the Bottom 60% Is Near - 16th Nov 17 - John_Mauldin
Ethereum (ETH/USD) – bullish breakout of large symmetrical triangle looks to be getting closer - 16th Nov 17 - MarketsToday
Gold’s Long-term Analogies - 16th Nov 17 - P_Radomski_CFA
Here’s Why You Shouldn’t Store Precious Metals Yourself (Hint: It’s More Than The Risk Of Theft) - 16th Nov 17 - Olivier Garret
Gold, Stocks Oil Forecasts
PetroYuan Can Accelerate the De-Dollarization - 15th Nov 17 - ElliottWave-Forecast
Bitcoin Rebounded Strongly From 5427 - 15th Nov 17 - Franco_Shao
  FTSE 100 Stocks Index Holds Support at 7140 - 15th Nov 17 - Dividend Investments
  The Battle And Future Of Bitcoin In Jeopardy - 15th Nov 17 - Jeff_Berwick
Did The Fed’s Alan Greenspan Admit Gold Is Being Manipulated? - 15th Nov 17 - Avi_Gilburt
Does Stripping Streets of ALL of their Trees Impact House Prices (Sheffield Example)? - 15th Nov 17 - N_Walayat
The Trump Administration’s IP Battle Against China - 15th Nov 17 - Dan_Steinbock
5 Ways Bitcoin can Improve its Odds of Becoming the Future of Money - 15th Nov 17 - Boris_Dzhingarov
  What "Too Confident to Save" Means for Stocks - 15th Nov 17 - EWI
These Headlines Say Gold is Building a Base for Something Big - 15th Nov 17 - GoldSilver
NZDUSD Broke Below Trend Line Support On 4-Hour Chart - 15th Nov 17 - Franco_Shao
Most Popular Recent Articles:
Wed The Trump Administration’s IP Battle Against China - 15th Nov 17 - Dan_Steinbock
Tue Gold on the Ledge, Trend Forecast - 14th Nov 17 - Bob_Loukas
1.Bitcoin War Begins – Bitcoin Cash Rises 50% While Bitcoin Drops $1,000 In 24 Hours - Jeff_Berwick
2.Fragile Stock Market Bull in a China Shop -James_Quinn
3.Sheffield Leafy Suburbs Tree Felling's Triggering House Prices CRASH! - Nadeem_Walayat
4.Bank of England Hikes UK Interest Rates 100%, Reversing BREXIT PANIC Cut! - Nadeem_Walayat
5.Government Finances and Gold - Cautionary Tale told in Four Charts - Michael_J_Kosares
6.Gold Stocks Winter Rally - Zeal_LLC
7.The Stock Market- From Here to Infinity? - Plunger
8.Ethereum (ETH/USD) – bullish breakout of large symmetrical triangle looks to be getting closer - MarketsToday
9.Electronic Gold: The Deep State’s Corrupt Threat to Human Prosperity and Freedom - Stewart_Dougherty
10.Finally, The Fall Of The House Of Saud - Jim_Willie_CB
Most Popular Authors Recent Articles:
1. Nadeem_Walayat Universal Credit Doomsday for Tax Credits Cash ISA Savers, Here's What to Do - 18th Nov 17
2. James_Quinn The Unbearable Slowness Of Fourth Turnings - 14th Nov 17
3. Michael_Noonan Gold And Silver – Think Prices Are Manipulated? Look In The Mirror! - 15th Oct 17
4. Jim_Willie_CB Finally, The Fall Of The House Of Saud - 12th Nov 17
5. Zeal_LLC Gold Mining Stocks Fundamentals Q3 2017 - 17th Nov 17
Most Popular of last 30 days:
1.North Korean Chinese Proxy vs US Military Empire Trending Towards Nuclear War! - Nadeem_Walayat
2. US Paving the Way for Massive First Strike on North Korea Nuclear and Missile Infrastructure - Nadeem_Walayat
3.Buffett Sees Stock Market Crash Coming? His Cash Speaks Louder Than Words - Mark O’Byrne
4.Soaring Inflation Plunges UK Economy Into Stagflation, Triggers Government Pay Cap Panic! - Nadeem_Walayat
5. Trump Reset: US War With China, North Korea Nuclear Flashpoint - Video - Nadeem_Walayat
Most Popular All Time:
1. US Housing Market Crash to result in the Second Great Depression - Feb 2007 - Mike_Whitney (Reads 497,996)
2. UK Housing Market Crash and Depression Forecast 2007 to 2012 - Jan 2009 - Nadeem_Walayat (Reads 442,932)
3. UK Housing Market Crash of 2007 - 2008 and Steps to Protect Your Wealth - Aug 2007 - Nadeem_Walayat (Reads 383,514)
4. The Real Reason for the Global Financial Crisis…the Story No One’s Talking About - Sept 2008 - Shah Gilani (Reads 318,773)
5. Last Warning! Three-Pronged Collapse ... Stocks, Bonds and Real Estate - Dec 2006 - Larry Edelson (Reads 316,029)
Recent Analysis:
Protect Your Savings With Gold: ECB Propose End To Deposit Protection - 14th Nov 17 - GoldCore
Gold on the Ledge, Trend Forecast - 14th Nov 17 - Bob_Loukas
The Unbearable Slowness Of Fourth Turnings - 14th Nov 17 - James_Quinn
Silver Sign’s Confirmation & More - 14th Nov 17 - P_Radomski_CFA
Could This Be The End for Tesla? - 14th Nov 17 - Rodney_Johnson
Harry Dent’s Fourth Cycle: More Evidence of Stock Market Downturn - 14th Nov 17 - Harry_Dent
Why Having Good Credit Is Important If You Want to Invest - 14th Nov 17 - Boris_Dzhingarov
Has the Stock Market’s Topping Process Begun? - 13th Nov 17 - Harry_Dent
The Bitcoin Bubble Explained in 4 Charts - 13th Nov 17 - JAKE WEBER
How the US Has Secretly Subsidized China to Produce Eco-Unfriendly Solar Panels - 13th Nov 17 - PATRICK WATSON
The Increasingly Unstable Middle East Must Be On Every Investor’s Radar - 13th Nov 17 - John_Mauldin
Stock Market Critical Supports are Being Challenged - 13th Nov 17 - Anthony_Cherniawski
The One Chart All Investors Should See Before 2018 - 13th Nov 17 - Ian Jenkins
Short-Term Stock Market Uncertainty Following Recent Rally, Will Stocks Continue Higher? - 13th Nov 17 - Paul_Rejczak
Is Hillary Just the “Fall Guy” for the Intel Agencies and their Moneybags Bosses? - 12th Nov 17 - Mike_Whitney
Stock Market Correction Phase - 12th Nov 17 - Andre_Gratian
Finally, The Fall Of The House Of Saud - 12th Nov 17 - Jim_Willie_CB
Bitcoin War Begins – Bitcoin Cash Rises 50% While Bitcoin Drops $1,000 In 24 Hours - 11th Nov 17 - Jeff_Berwick
E-franc, E-krona... E-volution? - 11th Nov 17 - Murray Gunn
Gold Investment Stalled - 11th Nov 17 - Zeal
Smart Ways to Get Loans Online - 11th Nov 17 - Boris_Dzhingarov
What Can Pot Teach Us About Economics and Government? - 10th Nov 17 - Barry_M_Ferguson
Can Stocks and Bonds go Down at the Same Time? - 10th Nov 17 - Anthony_Cherniawski
Gold Market 2017 Will We See a Replay of 2015 and 2016? - 10th Nov 17 - Arkadiusz_Sieron
Oil markets turn bullish with shift to backwardation - 10th Nov 17 - ElliottWave-Forecast
The Strange Behavior of Gold Investors from Monday to Thursday - 10th Nov 17 - Dimitri_Speck
Where to Start Your Cryptocurrency Company - 10th Nov 17 - Andreea Paulsen
Psychological Warfare in the Precious Metals Markets - 9th Nov 17 - Rambus_Chartology
Prepare For Interest Rate Rises And Global Debt Bubble Collapse - 9th Nov 17 - GoldCore
The Surreal Simulator of Meta Trader - 9th Nov 17 - Kavinesh_A
Stock Market Topping Action Or Just a Pause? - 9th Nov 17 - Paul_Rejczak
Bitcoin Nearly Hits $8,000 and Cryptos Skyrocket After Segwit2X Fork Is Called Off - 9th Nov 17 - Jeff_Berwick
Markets are Warning, But No Major Sell Signal - 8th Nov 17 - Anthony_Cherniawski
Here’s Why The Market Mispriced Jay Powell - 8th Nov 17 - JARED DILLIAN
So You’re a Bitcoin Millionaire! Now Where Do You Invest? - 8th Nov 17 - GoldSilver
Best Foreign Exchange Broker - 8th Nov 17 - Kavinesh_A
Why Oil Stocks May Be The Best Way To Profit From The Renewable Energy Revolution - 7th Nov 17 - PATRICK WATSON
The Next Financial Crisis Will Reveal How Little Liquidity There Is - 7th Nov 17 - John_Mauldin
Forex FreeWeek: Get FREE Access to Pro-grade FX Trading Forecasts - 7th Nov 17 - EWI
4 Reasons for Investment Firms to get Social  - 7th Nov 17 - Steve Baker
World’s Largest Gold Producer Sees Production Fall 10% - 7th Nov 17 - GoldCore
Electronic Gold: The Deep State’s Corrupt Threat to Human Prosperity and Freedom - 7th Nov 17 - Stewart_Dougherty
Bitcoin Blockchain Hypocrisy Most Foul... - 7th Nov 17 - Michael Ballanger
Silver’s Sign and USD’s Upcoming Reversal - 7th Nov 17 - P_Radomski_CFA
German Investors Now World’s Largest Gold Buyers - 7th Nov 17 - GoldCore
Why Are Essay Structures So Important to Essay Writing? - 7th Nov 17 - David Morgan
The Stock Market- From Here to Infinity? - 6th Nov 17 - Plunger
The US Dollar Reports of its death have been greatly exaggerated - 6th Nov 17 - Plunger
Stock Market Topping Pattern Or Just Pause Before Another Leg Up? - 6th Nov 17 - Paul_Rejczak
How To Profit From The $6 Trillion A Year Cyber Crime Threat - 6th Nov 17 - Ian Jenkins
Precious Metals Blastoff About To Happen - 6th Nov 17 - Chris_Vermeulen
Precious Metals Sector On Major Buy Signal - 6th Nov 17 - The_Gold_Report
Stock Market Still Bullish, (Near-Term)! - 6th Nov 17 - Andre_Gratian
Confidence in the UK Housing Market Continues to Fall - 6th Nov 17 - Boris_Dzhingarov
Secure your money with the most reliable forex brokers - 6th Nov 17 - Kavinesh_A
Using Hard Wallets To Secure Your Bitcoin & Cryptos - 5th Nov 17 - Jeff_Berwick
Article Paper Writing: Generating a Thesis Statement How-To Write a Compare-Contrast Essay - 5th Nov 17 - David Morgan
Markets At the Junction of Risk ‘On’ and Risk ‘Off’ - 4th Nov 17 - Gary_Tanashian
Preparing For EU Collapse - 4th Nov 17 - Raul_I_Meijer
Analyzing the Mainstream Analysts: Are Silver SLV ETF Holdings Really Plummeting? - 4th Nov 17 - Jeff Clark
The Essay Paper . Exposition Paper Writing: Building An Introductory Paragraph - 4th Nov 17 - David_Morgan
Gold Stocks Winter Rally - 3rd Nov 17 - Zeal_LLC
Gold Price Reacts as Central Banks Start Major Change - 3rd Nov 17 - GoldCore
Here’s Why Catalonia Has Put The EU In Danger - 3rd Nov 17 - JACOB L. SHAPIRO
SPX Trying to Digest a Whopper of a Monthly Labor Report - 3rd Nov 17 - Anthony_Cherniawski
GBP/USD – Currency Bulls vs. mid-October Highs - 3rd Nov 17 - Nadia_Simmons
Analyzing the Mainstream Analysts: Are Silver SLV Holdings Really Plummeting? - 3rd Nov 17 - Jeff Clark
Charts Showing Extreme Social Fragmentation in the US - 3rd Nov 17 - John_Mauldin
Bank of England Hikes UK Interest Rates 100%, Reversing BREXIT PANIC Cut! - 2nd Nov 17 - Nadeem_Walayat
Who Will Be the Next Fed Chief - And Why It Matters - 2nd Nov 17 - Dan_Steinbock
Government Finances and Gold - Cautionary Tale told in Four Charts - 2nd Nov 17 - Michael_J_Kosares
Regulation Is Killing Community Banks - Public Banks Can Revive Them - 2nd Nov 17 - Ellen_Brown
More Trade Barriers Are Coming—Make Sure You’re On The Right Side - 2nd Nov 17 - PATRICK WATSON
The Magnitude of Job Loss We Will See in the Next 20 Years Is Staggering - 2nd Nov 17 - John_Mauldin
Formidable Fort of Forex - 2nd Nov 17 - Kavinesh_A
Invest In Gold To Defend Against Bail-ins - 2nd Nov 17 - GoldCore
Investing in Solar Energy : SunPower SPWR - 2nd Nov 17 - ElliottWave-Forecast
Timing the Peak in Stock Market - 2nd Nov 17 - ElliottWave-Forecast
The Next Chair of the Fed and Gold - 2nd Nov 17 - Arkadiusz_Sieron
If You Are Long Broad ETFs Like VT, You Have Given Up - 1st Nov 17 - JARED DILLIAN
Stumbling UK Economy Shows Importance of Gold - 1st Nov 17 - GoldCore
How to Start Trading on Gold Commodity - 1st Nov 17 - Anne Bago
AUD/USD – Currency Bears Meet Important Supports - 1st Nov 17 - Nadia_Simmons
Is a Year End Rally in Risk Markets Coming ? - 1st Nov 17 - Forexabr
A guide to select the most trusted brokerage firm - 1st Nov 17 - Kavinesh_A

Market Oracle FREE Newsletter

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Tackling Higher US Healthcare Costs

Personal_Finance / Healthcare Sector May 25, 2017 - 06:42 PM GMT

By: Rodney_Johnson

Personal_Finance In 2015, I thought my healthcare renewal statement was wrong.

The premium for my shrinking family of three (two adults and one child) was increasing by more than 30%, to $1,454 per month. My earnings place me out of the subsidy bracket, so these are real dollars out of our budget.

There were plenty of insurance companies to choose from. Shrinking availability was not a problem. It was just breathtakingly expensive.


Or so I thought.

In 2016, my premium jumped to $1,733 per month.

The galling part is that I had no control. I’d kept tabs for years. The insurance companies had never paid total reimbursements anywhere close to the premiums we’d paid, and our deductibles climbed even as our premiums shot higher.

This is not how insurance is supposed to work.

Insurance is a hedge against something unexpected happening.

The current system is glorified cost-sharing with a lot of middlemen.

With true insurance, I’d pay for small or ordinary medical costs like a broken arm or asthma treatments, and I’d pay for scheduled surgeries with savings or a payment plan. But big things, like car accidents or cancer, would be covered.

That sort of coverage isn’t possible today. Even if the proposed American Health Care Act allows it, I’m not sure how many insurance companies would offer such stripped down service.

I don’t claim to know how to fix the national problem.

Caring for everyone as we age will be expensive, but no one (including me) wants to ration care or tell doctors they simply earn too much compared to their peers in other countries.

But that doesn’t mean I sat still when I got my premium renewal notice last year.

I searched for alternatives… and I found them.

The Affordable Care Act includes a carve-out for health-sharing arrangements that existed before 2000. These organizations tend to have a religious component and work like mutual benefit societies from a bygone era.

I investigated several before choosing Christian Healthcare Ministries (CHM, www.chministries.org). There’s also Medi-Share and Samaritan Ministries, among others. Each one operates a bit differently, which is why I chose CHM. But they each have the same basic principles.

I contribute $150 each month per person, or $450. That’s $1,283 less than my cost would have been in the traditional market. It adds up to $15,396 per year.

The organizations ask that you affirm your faith, and that you live a responsible life. It’s not that you need to live a life of austerity or denial. You can still have one too many at the local barbeque from time to time, or ski the black diamond runs.

What you can’t do is expect your fellow members to pay for things outside the bounds. If you have an accident while driving under the influence, it’s not covered. If you get addicted to illegal drugs, it’s not covered.

In short, these organizations give you the opportunity to exchange responsible behavior for lower-cost healthcare.

This is not insurance. It’s health cost sharing. It sounds like semantics, but once you get into the details the difference becomes clear. Even though CHM mailed me a card, there’s nothing to show a doctor or hospital.

When we visit the doctor, we say one thing: “Self-insured.”

Last fall, while away at college, my daughter went to the hospital. She was short of breath due to an allergic reaction. She called from the waiting room. I told her to do everything necessary to get the care she needed, and, when it came time to settle up, to tell them she’s self-insured and to give them my contact information.

She left without paying a nickel, and then I waited for the bill.

Five weeks later, I received her statement. The hospital had reduced her bill by 71%.

The CHM gold plan we have covers costs outside of tests and transportation, with a $500 deductible per condition. We pay for our routine doctor visits.

The plan includes a prescription drug benefit, but I’ve found that GoodRx, a free app that anyone can use, is better. I recently filled a prescription that would have been $39, but GoodRx directed me to a large chain grocery store where my coupon provided by them brought the cost down to $8.

Clearly this approach won’t work for everyone. I’d imagine there are pitfalls to these programs that will come up as time goes on. But, so far, it seems to be working just like insurance used to work.

And the basic tenets seem solid enough to help all of us achieve lower costs.

As a consumer, I’m asked to be responsible for my health, to do my part to keep my costs down, and I ask for the best price a vendor has to offer when services are rendered. In return, my health cost sharing premium stays in the reasonable range. That seems like a fair trade.

I’ve had two friends sign up for similar programs in the past six months, as they ran into the same astronomical costs that I did. I imagine these organizations will attract many more users in the months and years ahead as costs continue marching higher.

If you end up looking into these programs for yourself, check them all out to find the best fit. And if CHM ends up the top choice, tell them I mentioned it… because they also have a referral program.

Rodney

Follow me on Twitter ;@RJHSDent

By Rodney Johnson, Senior Editor of Economy & Markets

http://economyandmarkets.com

Copyright © 2017 Rodney Johnson - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Rodney Johnson Archive

© 2005-2017 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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