What Do I Do About Medical Insurance?

This is one of the big questions I hear these days that it scares many people away from going to her in the arena or Contracting Consulting and it's just a sad commentary on how the broken health insurance system in this country, that is a factor in deciding whether or not to go into business for themselves.

Basically, there are several different answers, depending on your personal and family circumstances. For a healthier younger crowd, there is an answer for everything else there is another answer that there are more variables in play, and thus more difficult decision.

If you are younger, still in the 20's, and one, then they are usually healthy and health insurance is actually not too much thought or concern, but I would recommend in any case, but you can structure it differently.

You can buy insurance for that intended, as an insurance policy against the unexpected, and not as a fund to pay for all of your everyday medical expenses such as this has become for most Americans these days.

Here is an analogy that I like to use. When you have insurance for your car, which will be used when in an accident. You would never expect to claim on your insurance company to pay the routine maintenance and replacement of tires or 30,000 mile inspection or oil change.

Your auto insurance company will only laugh, if you have received a request like that, but for some reason health insurance in this country has become just that, a comprehensive for every conceivable medical expense, and that's why he became so outrageously expensive.

I believe that since you're young and healthy, you're much better off saving significantly on the premium and go with a high deductible, catastrophic plan and then just insurance for small items such as annual checkups or when you have a cold. That way your insurance for any accidents or major medical condition as it was intended. In those years where you do not have any problems and do not use the coverage, you will save tons of money on premiums, which can be put aside in the account as an HSA (health savings account) which I will discuss in future articles, the year when you finally need to use the insurance for a great appearance.

For those of us who do not fit into a healthy crowd, then it is a little more complicated, and I will discuss this in future post. What are your thoughts on this subject? I'd love to hear about their experiences.