Insurance...Why Can’t I Hedge my Health?

I am updating my ‘will’ /family trust and it is amazing how time flies. It feels like yesterday when I had to set this stuff up, yet Max is nowhere to be seen in the documents.

Much like options strategies and computers, the tax, insurance and legal jargon make me sleepy and feel dumb. But, like all these things, you CAN’T afford to be lazy.

I am 44 and have now needed Insurance 3 times (save a few fender benders that were NEVER my fault :) ). Two for lost or stolen goods and one for ‘fraud’ business insurance. Each time, I have been extremely fortunate to receive the coverage I believe I deserved. I have been extremely loyal to State Farm insurance and the two times they have had to ‘pay’, they have paid. NO HASSLES. Thank-you State Farm. I hear from others that they will not let there be a third time. I will let you know what I find.

In 2002, I was in trouble with my business (my than partner settled with the NASD), but Zurich Insurance covered the Fraud.

Health insurnace is a completely different story and each and every time I pull out my Blue Cross/Blue Shield card it feels like I am holding a scratch ’em lottery ticket. The card is just a tease. No matter how vigilant I am about coverage, it ALWAYS let’s me down. Luckily I can afford to just pay, but I can’t properly hedge my family’s health.

If we can have markets for stocks, bonds, equities and maybe even derivatives, should I not properly be able to hedge my family’s health.

PS – To snazz up my new will, I have decided to let the Stocktwits community decide if I should be pulled of life support systems. Be kind.