i went to a seminar of ambulance insurance, which includes use of helicopter. Is there a company who sells reasonable ambulance insurance?
How do I know where my catchment area is? The speaker said if you are several feet out of that area prices really skyrocket.
Required ambulance services have always been covered by my health insurance. Like visits to the ER, it’s been covered when necessary, but not covered if not medically necessary.
the seminar was selling a 5,000 life time plan for those over 55.
An AI search should be helpful to find competitors for the company that did the seminar.
Factors I would evaluate include how much coverage do have you with your current medical insurance, how frequent are you likely to need an ambulance (I believe that there is data on how often community dwelling adults use ambulances), will you be obtaining Medicare at age 65 with 80% coverage and a secondary policy for the additional 20% coverage and how financially stable is the company.
At present my medicare will evaluate as to whether the incident was actually life threatening, and if not (i.e. gas causing chest pain), i would have to pay. I do not believe any air transportation is covered with medicare.
I worked in commercial insurance for years. If there is one thing I learned is that one can buy insurance on anything if they want to pay hit it. Just figure how much an event may cost you and compare that to the cost of the policy and Account for the deductible and, see who gets what your healthcare insurance will pay. You may not be buying as much protection as you think. Get a HSA and put your money there would be my advice.
I don’t know all that is allowed, but an HSA is not insurance. It’s a savings account of sorts that allows you to put pretax income into for the purpose of paying for health related expenses. And, if you never have them the money is yours. I’m sure there is a list of what it allows and what it doesn’t, but I imagine that it is quite liberal. If one truly understood what insurance was this would make more sense. Insurance is a financing tool that helps you pay for specific things like healthcare or property damages or liability issues. The principle is that one pays for their own losses. If you buy insurance long enough you pay your own claims. Obviously, no one does buy it long enough, but the principle is there and is technically handled through all of the other people who purchase. It just won’t work otherwise. I had an uncle who would fuss at me every time his auto insurance would go up and he said he’s never had an accident. So, I said “Don’t buy it then,” but he would say, “what if I had an accident?” Exactly! One sleeps better when they know they probably won’t lose their livelihood IF that happens and if one drives long enough, you will have one. Say you have one and total two cars and injure some people. Happens everyday. Damages could easily be in excess of $100k. How long would it take you to pay for that based on your current insurance premiums? You bought a promissory note from the insurance company and are paying for it on monthly payments. Their actuaries are really good and accurate. Look at Vegas, they do not lose! They may not make huge percentages of profit, but they deal in huge amounts of money. It’s up and down. They have good years and not so good years. Their problem isn’t the risk, it’s getting enough people to play to cover the risk. It’s really a simple concept that we can employ our selves. I take large deductibles on my insurance and put money in a savings account to cover them. An HSA is that. It’s self insurance with a tax benefit! The more disposable wealth you have the less you need insurance. The most expensive part of insurance is the amount closest to the loss. Like the deductible. You’ll pay nearly in premiums for the deductible layer that it covers if you want First Dollar coverage. Take a $10k deductible and your premium would drop a lot. Now you are talking Excess insurance. If you had $100k in liquid funds in an HSA, you could just buy excess coverage and you may be surprised at how low the premiums are. It costs the insurance company a small fortune just to handle a claim even if there is nothing paid out. They have to cover all of their expenses too, but you get to keep that money. I’m just trying to show you how insurance works so that you can make informed decisions. Put 20% down on a mortgage and you don’t have to buy Motgage Insurance which only benefits the lender. You get nothing out of it. Most of us would rather spend money than save it. We have spending problems, not income problems. Read the book “The Millionaire Nextdoor.”