Selecting a Health Insurance Plan

I recently switched jobs – from one disorganized healthcare organization to another…go figure, but I’m blessed to have a job in this crazy economy!

Even though I work in healthcare, I find selecting an insurance plan painfully onfusing. I wonder if bankers have the same issues with selecting a 401k or if insurance agents have issues with selecting property insurance? Anyways, I have always found picking a plan confusing as hell, and fortunately I am currently only picking a plan for me, myself and I. Out of network, in network, co-pays, PPOs, HMOs, OPP, WKRP, WTF, etc….its all gibberish. I know I could, and should, Google it. I’m smart enough to write out the pros and cons of each but as I read the descriptions in the brochure I find myself daydreaming about shaving blindfolded with a rusty dull blade and then dunking my head in a tub of alcohol eyes wide open. Ouch!

I’m even more of a pessimist about health insurance then I am about healthcare in general. In America, health insurance is a business like stocks and bonds, profit and loss, S&P 500 and Dow Jones. Their only real goal is to make money and to do so they charge you $X based on some actuarial plan that you will use $X - $Y of actual healthcare services.

Insurance companies only make money by (1) insuring as many healthy people as possible so that expenses for them are minimal (me so far) and (2) keeping expenses as low as possible for those with health conditions via negotiating with doctors and hospitals or by limiting or denying service. There is no (3) that says they make money by providing payment for all health services you need no matter the cost.

My attitude is that if I fall outside of the actuarial plan and into category 2, I’m screwed no matter what insurance plan I select. My real insurance plan is to never get sick…which I know as long term strategy is impossible. But, until my body says different, I’ll let all those unopened envelops from my new insurance company keep piling up on my desk.