Ever Hear of a 51 Year Waiting Period For Medical Coverage?

Ever hear of a longer waiting period than 90 days? Paying for coverage for 51 years before coverage took effect brings cause for reflection…………….

By Bill Rusteberg

I received my government insurance Explanation of Benefits today for a colonoscopy I had 19 August 2017, about 14 weeks ago.

Wow, I thought, this is pretty good coverage indeed! What wonderful discounts! My out-of-pocket expenses were really low. Great coverage!

The anesthesiologist billed $720, but I got a spectacular 81.7% discount. Total allowed charge was a measly $131.46

The physician charge was $1,092.53, but I got a whopping 81.4% discount. Total allowed charge was a paltry $203.71

The facility charge was $1,481.00, but I got a dynamite 70.8% discount. Total allowed charge was ridiculously low at $432.47

My cost? An affordable $153.52 out of total billed charges of $3,293.53!

Then I realized……………………

I have paid for this coverage over the past 51 years. Yet it didn’t take effect until about 4 years ago. I am required to continue to pay for the coverage, the cost amounting to the equivalent of 2.9% of my income (Yes, I’m still working and liking it). On top of that I pay an additional $2,400 a year in “premium” for coverage for professional services.

So, lets’ see here – 51 years of “premiums” before coverage begins, plus continuing “premiums” once coverage starts amounting to thousands of dollars a year.

Man, this is damn expensive coverage!