How much salary is decent these days?

[syntax]

What's wrong with these youth of today?! :wtf:

must be the music they listen to, them rap music

 

[I.am.Sam]

It's medical insurance. Insurance being the key word.
It's not there to be gotten value from on a day to day basis. Rather, it's there in case of extreme need - and hopefully for you that will never arise.
Do you have the same attitude to car insurance?

yes i do ...but yes if the need arises when i need it. i have it

What's wrong with these youth of today?! :wtf:

 

[zippy]

umm that doesn't look accurate. $30 000 PA for a software developer?

Must be for a Microsoft dev

 

[zippy]

:erm: it did not occur to me to switch the geyser off when taking a shower or a bath. That makes sense.

Is it possible to get a boiler system instead ? Probably need a gas supply. They only switch on when you need hot water. They are very effective.

 

[Alton Turner Blackwood]

It's medical insurance. Insurance being the key word.
It's not there to be gotten value from on a day to day basis. Rather, it's there in case of extreme need - and hopefully for you that will never arise.
Do you have the same attitude to car insurance?

To play devil's advocate here: Its not the same as "normal" insurance.

If you write off your car with no insurance you're pretty much fscked.

If you don't have medical aid, you still have the option to go to a public hospital.

There's a good public hospital close to me (Eerste River) and I've never heard of anyone complaining about it.

 

[cerebus]

Exactly, if you are in an accident and need any kind of serious care, that 25k is going to look like a bargain.

From a pure utility perspective insurance is incredibly bad value compared to other investments. The whole industry is based on people's inability to make objective risk assessment, and it feeds on the fear of the public. It isn't his responsibility to subsidize the healthcare costs of the elderly, and his likelihood of serious injury or health problems at this stage in his life are quite statistically minor. Any decent economist would tell you to get the least possible insurance.

 

[syntax]

From a pure utility perspective insurance is incredibly bad value compared to other investments. The whole industry is based on people's inability to make objective risk assessment, and it feeds on the fear of the public. It isn't his responsibility to subsidize the healthcare costs of the elderly, and his likelihood of serious injury or health problems at this stage in his life are quite statistically minor. Any decent economist would tell you to get the least possible insurance.

and thats the point, they would tell you to still get medical aid though. Im not saying get the best cover with savings schemes etc. But get a killer hospital plan, because when you are young, you can try gamble and say you arent going to need anything unless you A) get a very serious illness B) have an accident

Obviously medical aid is a bad investment, because its not an investment. Its insurance.
And because they have people doing stats etc, you are likely to lose out in the long run.

However, are you willing to take that risk. Thats what it comes down to. Personally, i dont think many people can afford to have a serious accident without medical aid without financially ruining themselves. Or to survive a serious illness and not have to start taking extra bonds etc.

 

[azbob]

To play devil's advocate here: Its not the same as "normal" insurance.

If you write off your car with no insurance you're pretty much fscked.

If you don't have medical aid, you still have the option to go to a public hospital.

There's a good public hospital close to me (Eerste River) and I've never heard of anyone complaining about it.

Public hospitals aren't free, are they?

 

[I.am.Sam]

Public hospitals aren't free, are they?

depends on your salary i think

but the service is bad ....

 

[Alton Turner Blackwood]

Public hospitals aren't free, are they?

What's the point you're trying to make? It's so cheap, its basically free. Also no one expects you to actually pay that amount (which is funny). They send you a bill and never follow up on whether you pay it. No one also checks your account on whether you've paid or not on your subsequent visits - because they cannot deny you medical help.

An operation costs something like R120

I know this because I worked at Health (HIS) a few years ago.

 

[azbob]

What's the point you're trying to make? It's so cheap, its basically free. Also no one expects you to actually pay that amount (which is funny). They send you a bill and never follow up on whether you pay it. No one also checks your account on whether you've paid or not on your subsequent visits - because they cannot deny you medical help.

An operation costs something like R120

I know this because I worked at Health (HIS) a few years ago.

I was asking a question, not making a point. Didn't realize we had that here. I had X-rays and sticthes at a public hospital when I was a student and remember being charged quite a bit.

 

[Alton Turner Blackwood]

depends on your salary i think

but the service is bad ....

Ja, on a sliding scale. When they open your ledger (account) they ask you what your income is.

 

[Alton Turner Blackwood]

I was asking a question, not making a point. Didn't realize we had that here.

You ask a question to make a point. So when you asked me I assumed that you're building up to some sort of conclusion.

 

[azbob]

You ask a question to make a point. So when you asked me I assumed that you're building up to some sort of conclusion.

Err, no. You generally ask a question when you're in doubt, not to make a point. Unless those are myBB CA Questions

 

[I.am.Sam]

Err, no. You generally ask a question when you're in doubt, not to make a point. Unless those are myBB CA Questions

i am in doubt...explain

 

[Alton Turner Blackwood]

Err, no. You generally ask a question when you're in doubt, not to make a point. Unless those are myBB CA Questions

 

[hellfire]

From a pure utility perspective insurance is incredibly bad value compared to other investments. The whole industry is based on people's inability to make objective risk assessment, and it feeds on the fear of the public. It isn't his responsibility to subsidize the healthcare costs of the elderly, and his likelihood of serious injury or health problems at this stage in his life are quite statistically minor. Any decent economist would tell you to get the least possible insurance.

Insurance is not an investment. It's a risk hedging instrument, if you want to get into the financial discussion.
You want decent healthcare in case of emergency, but do not have the financial means to pay for it when needed, so you instead pay a premium each month and the insurer assumes the risk.

 

[cerebus]

Insurance is not an investment. It's a risk hedging instrument, if you want to get into the financial discussion.
You want decent healthcare in case of emergency, but do not have the financial means to pay for it when needed, so you instead pay a premium each month and the insurer assumes the risk.

Yes I understand that. One can still view it as an investment in terms of value for money and on a weighted average it's incredibly poor utility. Partly that's because someone like sam1wrp is shouldering the burden of older people whose real insurance needs are much higher and drive his premium up. I'm not saying one shouldn't get medical aid at all - I have it and all my family have it - I'm saying sam has a good point in his sitaution and I'd also be reluctant to pay it if I was single young and healthy when I could be using the money in ways that I considered more profitable.

 

[hellfire]

Yes I understand that. One can still view it as an investment in terms of value for money and on a weighted average it's incredibly poor utility. Partly that's because someone like sam1wrp is shouldering the burden of older people whose real insurance needs are much higher and drive his premium up. I'm not saying one shouldn't get medical aid at all - I have it and all my family have it - I'm saying sam has a good point in his sitaution and I'd also be reluctant to pay it if I was single young and healthy when I could be using the money in ways that I considered more profitable.

Still disagree with you, and on two points.
Firstly, you cannot view insurance as an investment. It's a hedge. Even investments can have hedges (insurance) to protect losses.
Secondly, if you need a hospital stay covered then you will get incredible utility from the insurance.

 

[OrbitalDawn]

To play devil's advocate here: Its not the same as "normal" insurance.

If you write off your car with no insurance you're pretty much fscked.

If you don't have medical aid, you still have the option to go to a public hospital.

There's a good public hospital close to me (Eerste River) and I've never heard of anyone complaining about it.

Could be that no one came out alive in order to complain.

Public hospitals are a sure-fire way of convincing someone they need medical insurance.