Health insurance - to have or not to have???

[Miss E]

Many people have told me that I should at least have ambulance cover - but I have never in my entire life needed an ambulance, and if the need actually arose where one was required, I have the funds (or access to funds) to pay the debt - and I would still be better off financially to pay when and if I used one: unless I suddenly planned on using an ambulance at least once a year.

Ok, each to their own. But seriously, if you or one of your family members had to be airlifted by helicopter or whatever, you wouldn't be looking at $800. Probably more like $15,000 or $20,000. And the average trip in a road ambulance is something like $5,000. For $100 a year or whatever the ambulance cover is, I can't see how you would be financially better off even if you or your family only used it once in your life time.

Personally, I like having the security of knowing that I can call an ambulance at the drop of a hat - if something happens I won't be trying to weigh up if it is serious enough or not to require, I will just call.

JMO

[misty]

Ok, each to their own. But seriously, if you or one of your family members had to be airlifted by helicopter or whatever, you wouldn't be looking at $800. Probably more like $15,000 or $20,000. And the average trip in a road ambulance is something like $5,000. For $100 a year or whatever the ambulance cover is, I can't see how you would be financially better off even if you or your family only used it once in your life time.

Personally, I like having the security of knowing that I can call an ambulance at the drop of a hat - if something happens I won't be trying to weigh up if it is serious enough or not to require, I will just call.

JMO

Well, as with any insurance, it depends on your "sleep at night factor" (ie, feeling secure).

For me there are two parts to this.
1) the actual likelihood of me or my family actually needing ambulance services - which in itself is pretty small. And statistically even less likely to need air ambulance services. Of course there is a possibility, but given our personal circumstances (healthy, young, live in a Capital city with good medical facilities,etc), it is not very likely. Most people will go their entire lives without ever taking an ambulance ride.

2) Although $20k is not a small amount, IF the statistically unlikely were to happen, we are in a position where we could (and would) access the funds to pay it. Afterall, our lives are worth so much more then money.

I can sleep at night knowing this. It may seem like a gamble to you, but to me it is just risk analysis; just like I don't have pet insurance for my dogs and cats, and yet (given there is no animal medicare) they are much more likely to incurr medical costs which I cann't afford, then sny of my family members.