Insurance advise - slight rant on insurance fraud

[bladefd]

IDK about you all, but I'm in a questionable situation.. Maybe somebody here might have some sort of idea or has some custom insurance..

Anyways, here's the deal.. I have insurance from college that has a $150 deductible per annual year. After that has been paid, they pay 80% and I pay 20% for any costs. I have lung problems so I am on this one machine called Bipap that I have to use while sleeping. My f'in insurance refuses to pay for rental until I pay the deductible. So I have to pay $150 deductible AND every month, I gotta pay $25 copay. That's $500 I pay per year for the machine.. so insurance pays $125 a month (25$ is from me)..

That adds up to $1650 per year ($150 + $125*12) for equipment worth a total of $2000. If I wanted to buy the equipment, I would have to pay $400 at once (and the $150 deductible). Then I find out that $125 is the discounted amount of money. That means that the insurance company ends up reporting a lot more money on paper than what they pay..

Let me get this straight: The $125 insurance company pays per month to the Bipap company I rent from (not even including the $150 yearly deductible from my own pocket) is NOT even the amount that they report to the government. They pay less than what they report as their yearly insurance company spending. If you think about it, that is FRAUD. On top of that, they receive money from the colleges since the government requires every college student to be insured through the college. The company I rent from gets paid, the insurance company gets their end. Who is left out? The consumer.

Then you throw on the fact that they know that I'm a college student and I do not have $500-$600 to shell out in just 1 payment. Basically, I'm stuck in renting this equipment - no way I can afford to straight out buy it if I have to pay like $600. And I thought about this a bit further.. I am just ONE guy of MILLIONS in this country. Just one of the many insurance companies, just 1 of the many bills. Insurance, for the most part, in this country is fraud, and it is frustrating how it works out for the consumer.

[Scholar]

Another American opening his eyes to Corporate America's corruptness.

Welcome to the "I-realize-life's-a-piece-of-shit" side.

[bladefd]

Originally Posted by Scholar

Another American opening his eyes to Corporate America's corruptness.

Welcome to the "I-realize-life's-a-piece-of-shit" side.

I am not even sure what to do about this man. I am better off just walking into the hospital and saying I have no insurance and applying for charity. I am guessing they could easily find out that I already have college insurance if they backtrack my name and deny charity help.

I asked the medical company representative directly about this: they told me that is what their agreement is with all of their insurance companies but the total they get is the discounted amount. Yeah okay, $1500 every year they pocket for equipment worth $2000 - that is definitely discounted, especially considering the fact that I will need to use this for life. HA. Fraud.

I asked the insurance company representative directly how this works out: they told me that is how the plan is setup and that was their agreement with the various medical companies (paying less than reported amount). I push the representative a bit and she repeats that they take up 80% of the tab and I only pay 20% after I pay the deductible, and that was the plan the college pays for. Yup, splendid. Fraud.

Then you throw in the other co-pays for the doctor visits I have to go for every 3 months (doesn't include occasional fever and viral infections couple times a year) and the yearly hospital tests for lung issue. Hospitals and doctors pocketing whatever it is they pocket - it differs from test to test, doctor to doctor so I never find out how many they got paid for which test except for the $25 co-pay here and co-pay there that I pay. Fraud.

[bladefd]

Oh, I forgot to ask this.. Do you all have private insurances from work? Does anyone have other halfway-decent insurance plan that they pay for? I did some quick googling - I wouldn't mind reading about what others have (USA-only obviously).

[Amare4lyfe]

Insurance is a business. All they are is to make max profit to satisfied the shareholders.

Here is one of many stories

http://articles.nydailynews.com/2012...sive-insurance