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Comment by mech998877 | Hacker News Reader

90%+ chance the person you are replying to has health insurance that will cover them in case of medical disaster.

I absolutely have health insurance, the most expensive available on my state. That doesn't protect me 100%, but what health insurance (including the ones available at most companies) does?

People who have poor money management skills believe that FIRE=Ramen and no health insurance... In fact, it's about getting a 30K car (the one I bought new 3 years ago) instead a 70K car despite having the money.

99% of people have poor money management skills? It's statements like this that makes FIRE a fringe scene.

you're saying 99% of people think FIRE = ramen? I doubt that many even have heard of it

And what happens when the Republican Party gut the ACA and you have a pre-existing condition. Do you know what life was like trying to get insurance with a pre-existing condition before 2012?

Then they can just skip insurance. Most people don't need it, especially if they already have a lot of money (which is what FIRE means)

Obviously said by someone who is young and never had or knew anyone that had an expensive medical procedure like a friend who is 45 who I have known since 2003 and is a cancer survivor and now has to have open heart surgery

I don't believe your friend is most people. I have quite a few who haven't been to a doctor in decades.

But do you want to take the chance that you will never have major medical expenses between the time you retire early and you are 65 and eligible for Medicare? How many of your friends are over 50?

Very few, I am just saying that you can sign up when you think the risk hits your threshold. I'm mid 30s and wish I hadn't had to pay the last 10yrs. Honestly, until you have ids it's unlikely you'll use it and even less likely that you can't sign up for it before a major operation.

Yes you should try to time a major medical issue or accident during the open enrollment window. You should also not have car insurance until you think you might have an accident

So, in your 30s? My parents both had cancer in their late 50s/early 60s (including surgery / chemo) - and paid like $15 for some pain meds in Canada.

Even on a pretty good Kaiser plan, we're paying $200+ per day in the hospital, etc. On a high-deductible, more. They say they have a $1M annual limit, but that they've never enforced it. I hope we never have to find out.

Yes, I would get insurance once I have kids and that would cover the 50s+ when people usually start needing it.

That plan works until it suddenly doesn't. When it doesn't it's catastrophic for your finances and your health.

If you have an extra couple million dollars above and beyond your regular retirement fund you could self-insure your medical costs. But then you could just buy the health insurance.

Medical expenses are less expensive when you don't have insurance. Insurance is just for catastrophic events, if you do some regular risk analysis you can come to a balance that works for you. If you know a major medical expense is imminent then get the insurance. Most procedures don't happen immediately anyway.

That’s not how insurance works even with the ACA. You have open enrollment is the only time you can get insurance on the open market. Good luck if you find you have a major medical issue right after open enrollment ends - which the Republican administration has shortened and you have to wait 9-10 months.

i think you can get a pretty decent prius from 5k to 10k and a fantastic nearly brand new tesla model 3 for 17K. That's what i did. it was 8 years old, practically brand new, FSD prepaid included! it drives me to work and i only paid 17K for it!

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