In addition to what everyone else said, I recommend Gwern’s “Console Insurance”. Also, Jacob from Early Retirement Extremesays the following about dental and vision insurance:
I don’t have dental or vision insurance. Paying insurance that covers “regular maintenance” like teeth cleaning or contact lenses which these kinds of insurance do makes no sense whatsoever. Suppose everybody pays $25/month for contacts. Now do you think that everybody paying those $25 through an insurance company will make it any cheaper? No, the insurance company will add a $5 administrative fee—they most definitely will not give away free money. As such this kind of insurance is nothing but a financing plan for people who can’t figure out how to save the money for a $200 dental visit. The point of insurance is to cover rare events with a six-figure cost, which dental or vision simply doesn’t have.
In the US, some kinds of insurance are really collective bargaining. Dental and vision usually aren’t, but this is a reason to get health insurance even if you could afford to self insure.
If someone else is subsidizing the insurance, that can make it worthwhile.
In the U.S. You can often find the amount of the employer subsidy footer am insurance policy if you read the details of it. Also you pay for employer based health insurance (I think including dental and vision) with pre-tax dollars, which is in effect a government subsidy.
In addition to what everyone else said, I recommend Gwern’s “Console Insurance”. Also, Jacob from Early Retirement Extreme says the following about dental and vision insurance:
In the US, some kinds of insurance are really collective bargaining. Dental and vision usually aren’t, but this is a reason to get health insurance even if you could afford to self insure.
If someone else is subsidizing the insurance, that can make it worthwhile.
In the U.S. You can often find the amount of the employer subsidy footer am insurance policy if you read the details of it. Also you pay for employer based health insurance (I think including dental and vision) with pre-tax dollars, which is in effect a government subsidy.