Forum Index > Full Moon Saloon > No Fire Insurance For You! 09/03/23
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Cyclopath
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Cyclopath
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PostThu Sep 07, 2023 2:37 pm 
Randito wrote:
CEO salaries have exploded since the Reagan tax cuts. So when insurance companies drop coverage of customers and use the excuse that payouts to customers are the reason, they aren't really telling the whole story.
The secret truth is CEOs will get bigger bonuses by selling less? confused.gif You heard it here first!

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Randito
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PostThu Sep 07, 2023 3:12 pm 
Cyclopath wrote:
The secret truth is CEOs will get bigger bonuses by selling less? confused.gif You heard it here first!
They will get bigger bonuses by reducing risk and the potential for future payouts. The goal of an insurance company is to collect premiums from customers that will never file a claim.

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treeswarper
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PostSun Sep 10, 2023 6:56 am 
Randito wrote:
Insurance rates are based on prior payouts. But conditions have changed , both in terms of the risk of a wildfire and the practice of building houses embedded into forests. Spreading the cost of insuring houses in the woods to houses in fully urbanized areas isn't very fair. And making the houses in the woods pay at a rate matching the risks is high enough that many people will forego Insurance, making the model unworkable. If Insurance gets dropped, I wonder how the mortgage holding companies are going deal with a bunch of properties without insurance?
Where is a house NOT in the woods in areas of W. Warshington? You do realize that some of these places are more affordable for people who aren't as wealthy as I suspect most are on this site? Although it is getting to the point where everywhere is not affordable. Guess we non trustfundarians will need to relocate to Ohio or Mississippi and leave this area for the wealthy? Take the Grays Harbor area, for example. Housing is cheaper in the flood areas. However, flood insurance has to be purchased if one gets a loan for one of the affordable houses. I have read that the insurance payments can be more than the house payments in that area. Where do those people relocate to? Where can they afford to go? Even my area of the state now is unaffordable. My house value has gone up $100k (according to the assessor, which is usually less than selling price) and I would not be able to buy it if I were looking right now. I wouldn't gloat too much. One day that big old earthquake is going to hit and buildings will topple, infrastructure be unusable, and your houses will suffer damage. We all live in potential disaster areas.

What's especially fun about sock puppets is that you can make each one unique and individual, so that they each have special characters. And they don't have to be human––animals and aliens are great possibilities
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jinx'sboy
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PostSun Sep 10, 2023 8:32 am 
It isnt just ‘houses in the woods’, anymore! A friend has a house inside the city limits of Twisp - she was just notified that her insurance co was dropping her “because of wildfire”. Her house backs up to the Methow River. And she has a fire hydrant in her front yard.

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treeswarper
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PostSun Sep 10, 2023 8:46 am 
jinx'sboy wrote:
It isnt just ‘houses in the woods’, anymore! A friend has a house inside the city limits of Twisp - she was just notified that her insurance co was dropping her “because of wildfire”. Her house backs up to the Methow River. And she has a fire hydrant in her front yard.
I realize that. Read an article a while back and Omak is in the top ten towns in WA most likely to burn. Haven't had insurance problems yet, and I do know that about the only way the town would burn down is in a wind pushed conflagration with embers falling. We still have irrigated farmland around the valley. But on the west side, where is it not the woods, besides the cities? You can see what the future holds by traveling through the areas burned in W. Oregon in 2021. Just where would you relocate those folks, and how would you keep their standard of living the same? I think Leavenworth was number one.

What's especially fun about sock puppets is that you can make each one unique and individual, so that they each have special characters. And they don't have to be human––animals and aliens are great possibilities
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Schroder
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PostSun Sep 10, 2023 9:33 am 
I live on the beach and have had no water damage insurance for the past several years. The only thing available is FEMA coverage for a maximum of 20% percent of the house value at a cost of $2000 a year, which wasn't worth it to me. I know this house won't be here in 30 years but then neither will I.

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Malachai Constant
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PostSun Sep 10, 2023 6:00 pm 
Gee if only someone would have warned us that this sort of thing could happen, same as it ever was. huh.gif

"You do not laugh when you look at the mountains, or when you look at the sea." Lafcadio Hearn

IanB, Ski
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Chief Joseph
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PostThu Jan 04, 2024 8:11 pm 
I am looking into my options for personal health and dental insurance. I had insurance through United Healthcare since I retired, previously I was insured through the labor union at work. My income has now increased to over the monthly income limit for UH, the limit being $1677 monthly. I need a new insurance provider for about 3 years until I am eligible for Medicare. Any helpful advice-recommendations?

Go placidly amid the noise and waste, and remember what comfort there may be in owning a piece thereof.
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Tom
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PostThu Jan 04, 2024 9:11 pm 
Sounds like you no longer qualify for medicaid. Most of us who aren't covered by an employer plan get our health insurance thru the state exchange marketplace. I believe open enrollment ends Jan 15, so you want to sign up and pick a plan before then. If you are in a lower income bracket, but not low enough to qualify for medicaid, look at the silver plans. They are generally the best value as they are heavily subsidized via "cost sharing reductions". See here: https://www.healthcare.gov/glossary/silver-health-plan/
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Important: If you qualify for “cost sharing reductions” (or “extra savings”) you can save a lot of money on deductibles, copayments, and coinsurance when you get care — but only if you pick a Silver plan.
As far as dental, we've been pretty happy with the Super SmartSmile plan from https://www.dentalhealthservices.com/ but it probably depends on your needs and whether they are in network near you. We go to BriteNow dental which is in network. As far as the earlier comments regarding CEO salaries, Property & Casualty insurance is one of the most regulated insurance industries, much more so than life insurance. Insurers have to justify their premiums are in line with specified loss ratios which are generally pretty thin (with a few exceptions like extended warranties, never buy that stuff). In other words, they can't really gouge customers to pay high CEO salaries, fantasy over reality, but whatever you want to believe. Health insurance is similar, heavily regulated, you can't just charge what you want, only held in check by competition. That's more the life insurance industry, but my experience as a former life insurance actuary, the bulk of the margins go to agents not the insurers, as for the most part life products are sold not bought.

MtnManic, Chief Joseph
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Malachai Constant
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PostFri Jan 05, 2024 8:10 am 
My wife is younger than me so she enrolled in a state silver plan. The premiums were lower and the coverage better than Medicare.

"You do not laugh when you look at the mountains, or when you look at the sea." Lafcadio Hearn
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Chief Joseph
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PostSat Jan 06, 2024 12:42 pm 
Thanks Tom, the silver plan that you linked appears to be through the same company as I had and I am looking at other options. I have never shopped for HI so I am finding the myriad of choices a bit over whelming. Plus, to further complicate things, I would like to find a carrier that is accepted at the nearest hospital and clinic (Newport, WA.) as well as the Everett Clinic and local hospitals in the Everett area. Plus what of the large deductibles? I typically only go to the doctor once per year for my physical. Do most cover prescriptions? Again, I don't use a pharmacy often at all. Co-pays and maybe a HMO provider would work for me? Also are there any companies that combine health and dental that might fit my needs? I appreciate the help, sorry so many questions. O' one more ?....the open enrollment ends on 1-15, what happens if you miss the deadline?

Go placidly amid the noise and waste, and remember what comfort there may be in owning a piece thereof.
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Tom
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PostSat Jan 06, 2024 4:41 pm 
If you qualify for the cost sharing reductions the silver plans are a no brainer. Just pick the one that covers the doctors you want to be in network. For the first few years we naively selected the gold plan but eventually looked at the silver plans and thought there must be some mistake because they were not only cheaper but had lower deductibles and out of pocket due to the cost sharing reductions. As far as what happens if you don't pick a plan by January 15th? Did you ever watch Lost? What happened when they didn't press the button? Do you really want that? Seriously though, I think you might not have coverage for pre-existing conditions and there might be some tax penalty for having gaps in healthcare coverage. As far as dental, none bundle it AFAIK. You might want to consider going without dental insurance unless you have issues. It's one of those things you can just buy it the month before and be covered the next, or you can purchase a discount plan with some dental providers like BriteNow. My recollection is something like $100 for the discount plan and you pay out of pocket which can be cheaper than buying insurance depending on your needs. That said, the super smart smile plan I linked above isn't that expensive.

Chief Joseph
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Anne Elk
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Anne Elk
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PostSat Jan 06, 2024 5:27 pm 
I agree for the most part with what Tom said, CJ. For the 20 years I was self-employed I couldn't afford health insurance, period. But I was healthy. I knew better than to subscribe to the rock-bottom cheapo plans (bronze) under Obamacare. That came along just in time since about a year after I enrolled I was diagnosed with a serious illness that required hospitals, etc. One problem over the first 3 years of my enrollment was that the insurance companies I picked kept dropping out of participation because they weren't making enough $$ for the insurer. What I've done for dental "insurance" has worked well for me for over 30 years: a minimum of 3 visits/year to the dentist for a cleaning. Sometimes every quarter. Cheapest CYA ever - especially for one who's a lazy flosser. Anything amiss going on, they catch it right away (this includes one annual set of xrays). I haven't had a cavity in decades, no nasty stuff like root canals, extractions, etc.; just a few crowns. All my younger siblings have had dental work that frightens me.

"There are yahoos out there. It’s why we can’t have nice things." - Tom Mahood
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mike
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PostSat Jan 06, 2024 7:40 pm 
We've found the SHIBA volunteers very helpful

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Malachai Constant
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Malachai Constant
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PostSat Jan 06, 2024 10:22 pm 
Usually had health insurance from employers, DOD, private firms, later got it from Lynda working, or bar association. In Canada give paid health employer paid vision and dental. Some delta plans pay part of dental after a couple months.

"You do not laugh when you look at the mountains, or when you look at the sea." Lafcadio Hearn
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