Do Rich People Have Health Insurance

Someone with 10 million and no major health issues would be ON AVERAGE losing money by having insurance. No yes and maybe.

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They need or more often prefer insuring only against bills for expensive rare rescue care.

Do rich people have health insurance. Its the poor who dont need insurance cause they have no assets to protect. Of course rich people buy health insurance duh. 600 a month for shite coverage in a young healthy person is insane thanks obama I can afford to cover myself.

So do wealthy people need life insurance. As health insurance in America is an untaxed employment benefit owing to regulations from World War II all the wealthy folks Ive had contact with got outrageously good plans as part of the companies they work for or owned. The entire point of insurance is to protect your assets.

They dont need insurance to pay for the first few thousand dollars of care. Even if the rich are healthy they can benefit from this coverage in multiple different ways earning even more money. This is the entire reason the insurance industry exists.

If they are a 5000 per hour CEO with a golden parachute most likely they have free health insurance thrown in as a perk to get them along with the free use of the jet. Youre neglecting expected value actuarial and risk tolerance considerations. Overall life insurance guarantees a death benefit regardless of your future health.

It all depends on what you mean by wealthy and how the assets are structured. The problem is since the poor and middle class buys life insurance for income replacement thats the only variable insurance. Most insurance carriers will max out his eligibility for coverage at 20 to 30 times his annual income depending on his age.

Posted by Cosmo on 112718 at 1039 am to sicboy I actually just dropped my insurance. They like keeping cash in their pockets and paying it out only when they have treatment events they need to pay for. Shes one of the richest people in the world comparable to to the very richest people in our real world.

In my dealings with ultra-high-net-worth individuals both personally and professionally they all carry health insurance or are resident in a country with universal health care. This entitles them to same-day or next-day appointments no waiting 247 availability to the doctor via e-mail and cellphone a minimum of 30 minutes with the doctor and more. The government is supposed to take care of that not the people who have actually managed to have a good income despite the bad economic state of the US.

Although nearly 50 million Americans are without health insurance the wealthy can pay an annual membership fee usually 1500 to 2500 per person for concierge care. In some instances it has a precise cash value but always carries an intrinsic value. When you say rich if they are working for a company they have insurance piggybacking of the masses in the company just like the university.

Rich People Qualify for Higher Multiples of Coverage. Thats why they so willingly invest in life insurance. In 2012 the wealthiest fifth of Americans got 43 percent more health care 1743 more per person than the poorest fifth of Americans and 23 percent more care 1082 per person than middle-income people the paper published in Health Affairs stated.

If your net-worth is around 5 million the federal estate-tax exemption and you dont have significant liabilities then you probably dont need life insurance. All health care providers are private businesses and receive payment either from an insurance company or out of the patients own pocket. How does this work.

Do rich people bother with health insurance. Enter your zip code below to get free health insurance quotes and find the right level of coverage with one of your states top health insurance providers. It provides you and your heirs with lasting security during your life and afterward.

People of means - and sense - dont over-insure. Pretty much everything rich people do is through an entity and not in their own name individually. Say for example a middle-income individual who is making 60000 per year decides to buy life insurance.

This is not an option solely for the super rich but one that any senior or baby boomer with an insurance. Life insurance is an asset Savvy and wealthy individuals recognize that life insurance is not just a tool but also an asset. In the country she lives in there is no significant universal health care.

When a life insurance policy is no longer needed it can often be sold through a transaction known as a life settlement. Rich people should not be forced to pay for the people who do not have health insurance or can not afford it. Health insurance for the rich or poor was deniable based on factors largely out of the individual s control such as genetic predisposition to illness or disease.

Posted by melissasaurus at 625 AM on September 20 2013. Heres a very simple example. The popular answer is not the correct one.

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