Where Do Your Premium Payments Go?


You’ve seen them taken out of your pay checks. You’ve seen them shipped away in the mail box. You’ve seen them eat up your checking and savings accounts.

You’ve heard it said that insurance is there for your protection. But like anything else in the world, there is a fee. Fair enough. If you want a roof over your head you’ve got to pay the mortgage. You want insurance coverage, you’ve got to pay the monthly premiums.

But what happens when you go to the doctor and they slap you with a co-pay on top of your portion of the medical bill? Or what about when you get a letter from your insurance company saying that your medical services were rendered “not medically necessary”?

Has anyone ever slammed on the brakes and asked, “What’s going on here?”

Why don’t our monthly premiums cover it all? What’s with the extra costs? What’s with the denied coverage? Who’s calling these shots? Who’s making these significant health decisions for us while raking in our hard-earned money?

Or asked another way, why pay premiums at all if we’re still having to fork out so much on our co-pays and partial medical bills?

Maybe we’re all just so numb to the system that we’ve just decided to go blindly along with what we’re told and pay what’s demanded of us. No questions asked.

Maybe that’s the way Big Insurance wants it. In that case, they’ve won and we’ve lost.

But maybe we haven’t yet lost. Maybe there is still hope to level the playing field for the rest of us. Maybe there is still a war to be waged.

But before I go on, what do you have to say about this issue? Where do you stand? Where do you think your premiums are going here in the U.S.? Are you benefitting from your insurance coverage? Do you feel safer with your insurance company around, or threatened?

Feel free to share your thoughts below or comment on this post on my Facebook Author Page, and we’ll continue this conversation in future posts!

Published by Andrew Toy

Writer when I'm not being a husband or dad. So mostly just a husband and dad.

5 thoughts on “Where Do Your Premium Payments Go?

  1. Up until this last year, I liked my insurance company…with the exception of the hack they let happen. I know I got more out than I put in. From July of 2012 to December of 2014, they paid out over $4m for my treatment and care. However, the one my former employer chose after was terrible, and now my own plan isn’t all that great with the co-pays as high as they are.


  2. Big insurance? How about big government? Things have naturally become “progressively” worse since Big Federal Government injected itself into the mix and forced citizens (coercion/fascism) to purchase medical insurance! Imagine if they had “forced” us to buy grocery insurance — what would happen to the prices and availability of foods? Right, higher prices and less availability! Freedom, liberty, and limited government have (overall) been the best known solutions for the American economy — In my humble opinion. “Where do your payments go?” Now, in addition to insurance companies, we can add the bureaucracies of state and federal employee salaries and their pensions to the American medical healthcare mix.


  3. What I want to know is, why do the premiums jump as much as 50% every year? Didn’t President Obama promise to address the cost of health care? It seems to me that as long as we tolerate the greed of the health care industry, our costs will continue to rise. Which presidential candidate will fix it? Probably none of them. No one wants to suggest that you shouldn’t rake in profits on the backs of sick people.


  4. I try not have any procedures done that don’t cover my cap. It reduces the amount I pay out of pocket for the year. Have the expensive tests and procedures done early in the fiscal year, reach the cap sooner. 😀


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