3 ms·

My understanding was the 'modest' copay can be thousands of dollars. Is that not right? Can you buy insurance to pay the copay?

brianwawok 5y ago
Per year? I think as an employee the most I ever paid for a year of insurance for myself and my family was maybe $2k? On a salary of over 100k, it was pretty tiny. Insurance to pay the copay makes no sense, insurance is not free money. It's a risk pool to allow you to be able to afford the million dollar surgery only 1/100 people need. (I now own a business so am on the other side of the coin. I want nothing to do with health care. Why do I have to be involved? It's real dumb).
- chrisseaton 5y ago
  > Insurance to pay the copay makes no sense Why not I can pay a small sum to eliminate any potential copay on my car insurance? Guaranteed to pay a small amount vs possibly going to have to pay a larger amount - that's the whole idea of insurance.
  - brianwawok 5y ago
    Sorry I am blending terms. Copay as your % of the insurance premium that your work buys you. Example: Plan cost $2,000 per month. You have a $400 a month copay. In retrospect, that is a bad term to use here, because copay means something totally different in insurance plans. There is also a copay for treatmeat, but not what I was talking about.
- foldr 5y ago
  I’m not completely sure, but you seem to be confusing copay with the insurance premiums? Copay is the residual part of the cost of any given treatment that you have to pay after your insurance has (hopefully) paid for most of it. As the sibling says, there is nothing inherently nonsensical about insuring against copay.
  - brianwawok 5y ago
    Sorry I am blending terms. Copay as your % of the insurance premium that your work buys you. Example: Plan cost $2,000 per month. You have a $400 a month copay. In retrospect, that is a bad term to use here, because copay means something totally different in insurance plans. There is also a copay for treatmeat, but not what I was talking about.
kcplate 5y ago
You can buy a HSA, which is basically an non-taxable interest bearing savings account used to pay healthcare expenses where your contributions to it also decrease your taxable income. So, it’s not insurance, but it’s a way to essentially decrease your out of pocket co-pays especially if it rolls over year to year and earns interest.

brianwawok 5y ago

Per year? I think as an employee the most I ever paid for a year of insurance for myself and my family was maybe $2k? On a salary of over 100k, it was pretty tiny. Insurance to pay the copay makes no sense, insurance is not free money. It's a risk pool to allow you to be able to afford the million dollar surgery only 1/100 people need. (I now own a business so am on the other side of the coin. I want nothing to do with health care. Why do I have to be involved? It's real dumb).

chrisseaton 5y ago
> Insurance to pay the copay makes no sense Why not I can pay a small sum to eliminate any potential copay on my car insurance? Guaranteed to pay a small amount vs possibly going to have to pay a larger amount - that's the whole idea of insurance.
- brianwawok 5y ago
  Sorry I am blending terms. Copay as your % of the insurance premium that your work buys you. Example: Plan cost $2,000 per month. You have a $400 a month copay. In retrospect, that is a bad term to use here, because copay means something totally different in insurance plans. There is also a copay for treatmeat, but not what I was talking about.
foldr 5y ago
I’m not completely sure, but you seem to be confusing copay with the insurance premiums? Copay is the residual part of the cost of any given treatment that you have to pay after your insurance has (hopefully) paid for most of it. As the sibling says, there is nothing inherently nonsensical about insuring against copay.
- brianwawok 5y ago
  Sorry I am blending terms. Copay as your % of the insurance premium that your work buys you. Example: Plan cost $2,000 per month. You have a $400 a month copay. In retrospect, that is a bad term to use here, because copay means something totally different in insurance plans. There is also a copay for treatmeat, but not what I was talking about.

kcplate 5y ago

You can buy a HSA, which is basically an non-taxable interest bearing savings account used to pay healthcare expenses where your contributions to it also decrease your taxable income. So, it’s not insurance, but it’s a way to essentially decrease your out of pocket co-pays especially if it rolls over year to year and earns interest.