Does it make sense for a wealthy person to pay for health insurance or just invest their money & pay for?

health needs of the interest of their money? Please, no junktastic answers. Only if you have true knowledge in finances. Thanks so much. :D

Insurance is a financial tool. Wealthy people USE financial tools. It's STUPID to risk $500,000 in a potential major medical claim, when you can pay $300 a month to avert it.

The thing you have to factor in is RISK. The down side to the risk of NOT having health insurance is a major down side. You can't invest the "premiums" you'd pay, and expect to be able to come out ahead of the game - especially as you age.

Yes, any accident can happen and could end up costing you way more than if you had health insurance in the first place.

They should have it.

In addition to pooling the health risks, health insurers are able to negotiate better rates from health care providers. So by paying for insurance you are at least theoretically benefiting from the negotiating leverage that the insurance company has.

Sometimes hospitals charge people with no insurance more fees and more for general services than those with insurance. Health insurance is always a good idea, plus you don't have to shell out hundreds of dollars every time you go to a doctor's appointment.

what if you get cancer or even a heart attack or stroke could wind up costing $100,000's of dollars as opposed to less than $1000/month for a full premium on a family plan (a lot less if the person actually has a paycheck job with health benefits available

It is a good point about the negotiating power of health insurers. However as a general point about insurance, insurance companies are in business to make a profit and pay out less on average than they take in. It may be the wisest approach to only insure on things one cannot comfortably cover in the event the worst happens. For the very rich who want to be choosy about the particular care they receive it may well be best not to insure. Policies often have limitations and restrictions on what they will pay out for and in any event are not the all embracing cover they might seem. Big businesses very carefully examine what they insure for and what they do not to avoid paying through the nose to a financial service industry which tries to sell insurance for everything and anything.