I beat up on the guys from time to time. Now, in my defense, it’s easy huntin’, but still. I take the boys to task.
However, THIS morning, they got it right. Our topic is Health Care. Some of the “benefits” of the new law are coming on-line and we are beginning to see the effects of that.
Some are good.
Some are bad.
Specifically bad is the fact that McDonald’s will be dropping their health insurance plan, their mini-med plan, because it doesn’t conform to the Federal mandate that plans are to pay out80%-85% of their premiums in claims.
Here is where I think the boys from Greensboro got it right:
A single worker can pay $14 a week for a plan that caps annual benefits at $2,000, or about $32 a week to get coverage up to $10,000 a year.
Take a look at that. That $2 grand? That is NOT the deductible, THAT is the cap. The MAX the plan will pay out. For $56 a week, this plan will cover bills for you UP TO $2,000!
That’s a horrible idea.
You are paying $600 a year for $2000 worth of coverage.
A much better plan would be to buy a catastrophe plan. This is the plan that goes the other way. For the same $50 you can buy a plan that doesn’t cover you for the first several thousand dollars. However, after that, it covers all of your bills. This plan will put the burden of regular and routine medical bills on you, which is better anyway cause you’ll shop those services, and then covers you in the event of a massive health issue.
Remember, insurance is just that. It is NOT a substitute for normal personal responsibility.
Anyway, Grad-Britt, glad to see ya got one right! Keep it up.
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