Health Insurance Is a SCAM: You Are Being Ripped Off (Here's WHY)

Hey Bulldogs! John Sonmez from Bulldog Mindset Here, where I teach you how to go from the Victim Mindset to the Bulldog Mindset.

In this video I want to show you how health insurance is a scam, how you're being ripped off, what to expect from health insurance and the right way to use health insurance.

For this I will take a few examples from my own life, and the way I use health insurance, to try as much as possible not to get ripped off. And in general a good piece of advice that saved me a huge amount of money.

So first of all, this I'll use a lab test for my blood test, where it ended up being priced at 2000 dollars! and it's extremely expensive. However my insurance company did it's adjustments where I ended up paying only about 50 dollars and I'll use it to show you how you're being ripped off from insurance companies all the way to lab test companies, doctors etc...

Because you need to understand that you can't really expect health insurance to pay for all your medical bills, it's not how it works, and because of that people automatically assume health insurance is a scam and you shouldn't have one, however it's not how it works.

you must use your health insurance as a hedge against some fatal event, that can wipe you out. For example an accident or waking up finding that I have cancer or some fatal disease, it is then where I can use heath insurance for my advantage.

This may may make you think that you're being ripped off, BUT here is the thing, when it comes to fatal events, where you end up having bills that are in the hundreds of thousands of dollars it doesn't matter if you pay your ten thousands or fifteen thousands dollars max, because your insurance is gonna handle the rest.

You shouldn't count on your insurance to pay for every little thing that happens in your life. These companies should be used for their ability to make adjustments and as a hedge against life threatening events. You may think that you are being ripped off in that case, and it is true, these companies need you to stay safe and pay money in order to make a profit. they have a very large amount of data on which they make their calculation for your payments.

Insurance is a financial instrument, just like an investment, it's designed to hedge things, that might wipe you out.

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[jamesmabe]

I'm giving you a thumbs up based on title alone! Im an RN and have become jaded by the whole healthcare industry.

[boeuf-inoe]

If I payed $400 a month on health insurance that’s $4800 a year. Factoring in copay and deductible too. Stress from worrying about paying health insurance is making me more sick than If I didn’t have health insurance.

[iwontreplybacklol]

Health insurance is a tax on the poor and middle class. Think about it, if you are rich you save anywhere from $1000-$5000 by not having to carry insurance. So that means, if you have $100, 000 in the bank account for health care, you earn 5% on your money every year by not having health insurance. Once again rich getting richer just because they have money. This country pushes people down on purpose.

[melissamiller]

Thing is, you're not paying for results. They can run a few tests, take a scan and say they don't know. They'll still charge you $12, 000 for zero results.

[CyclingMartialartswithMusic]

Sometimes you have to ask yourself: "why get health and dental insurance if it gets rejected all the time anyway?"

[sophanychhea]

The dislikes are from people who work health insurance

[TV-xvle]

A 10 minute visit to the doctor when I was sick costed me 300 bucks. Sent me on my way saying nothing was wrong when I had 103 fever. Went to an allergist recently for testing. They did nothing and got sent another 300 dollar bill. This is WITH insurance.

[charlesmactaggart]

Before insurance was invented, no one needed it.

[ramonaharter]

If you are healthy, ditch the insurance. Put your money in the bank and save it for that catastrophic event. You are only required to pay 5$ a month on medical payments to keep it out of collections.

[joshuaroberts]

I pay well over $10, 000 a year for Health and dental insurance through my employer. Been at the same job for over a decade. Never used any of it. just always had it bcuz I was brainwashed into believing I need it. Got into a situation recently for the first time that I needed it. My ER visit wasn't covered bcuz I hadn't met my 1k deductible. Had to pay outta pocket. Most recently, I needed a tooth pulled. After insurance, my outta pocket was around 2k.... I had to apply for care If I could get back even half of my insurance payments back over the years.... I wouldn't need care credit.... This is my last year having insurance.... Makes 0 sense to have it unless you're very sick and constantly at the doctor. But if you're healthy.. put the money in a separate account and watch it grow to an astronomical amount over the years. You can easily pay outta pocket for whatever you need.

[Lakishia]

I work in medical billing TRUST ME it's way easier to self pay plus you get a discount even more! Also cuts out the middle man insurance company back and forth headache. Just put the money you pay for for insurance in to a savings account just for health

[Ace-tubj]

Health insurance in the US is terrible.

[CodWii]

Welcome to America where healthcare is not free, college is very expensive, and tipping is mandatory. The greed is strong in American capitalism....

[diegolara]

Quick story: Wife is pregnant. Doesnt have insurance. If i would have enrolled her for iinsurance during the enrollment period we would have paid 400 a month. We would of had a $2000 deductible plus visitation fees etc. On top of that anything the insurance wouldnt cover we would pay out of pocket. Total cost would have been 10 thousand counting premiums and out of pockets. Called the hospital to find out what the cash discount would be for a normal baby delivery. Waiy for $2000. And $7500 if it is c-section. Yes folks health inurance is a scam.

[philblane]

Let say you incur $100, 000 of medical costs and your insurance pays 80%. Just like you say, they inflate the charge to say $500, 000. When you pay 20%, you're essential liable for the original cost of the services. They have in essence, negated the insurance. 20% x $500, 000 = $100, 000. Its as if you don't have insurance at all. But if you didn't have insurance, you would be liable for the full $500, 000. This is what I have experienced. What a scam.

[kwell]

I've lost entire trust in the medical field since C19 and considering ditching insurance. I pay $179 for eye exams to get $155 contacts but that's the extent of my expenses annually. Just doesn't seem worth it anymore.

[brian]

its always about money. your life has a price.

[dean]

Dude I'm literally about to elect my benefits at work. Thanks for this man.

[cleaningup]

You’re better off just having healthy habits and having a savings account for health emergencies. Go to urgent care if you feel really ill. Break a bone of course that’s gonna be expensive but again you can save up for that. You’ll get a discount if you can pay a lot up front too. Push comes to shove, set up a payment plan and sacrifice all luxuries for a few months.

[Gibson-mdyi]

Tell me how between me and my company paid close to 20k in premiums and the insurance company doesn't apply any of that to the deductible amount health insurance is a scam