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My Ramblings

My health care decision

Posted on | June 29, 2007 | 1 Comment

OK, so I have a new job that provides health care for me, but not for my family. They will let me pay for the plan that includes my family, but that will cost me just under $800 a month! Yikes!

The problem with rising health care costs I think is that insurance companies are paying our bills for us, so we don’t care how much things cost. Why can’t health insurance be more like car insurance? If car insurance was like health insurance, we would be submitting claims to get our oil changed and the wiper blades replaced. No one does that do they?

Enter Health Savings Accounts. This is where I am going. I found a great site called ehealthinsurance.com where they can search for a plan based on your criteria. I found a catastrophic policy that covers my whole family for $369 per month! And this is with a major well known company. Now all I need to do is get my health savings account opened, and I’m in business. I figure if I save $200 per month into the account, I can pay for all the general doctor visits for sinus infections, etc. The great thing is about the account is that if I use my money wisely, then I can keep whatever I have left over at the end of the year for the next years expenses. In other words, it like a savings account (hench the name).

This isn’t the plan for everyone. In fact, if you have a major monthly expenditure of medication for example, this might not be for you. For me, I think it will work out better, and I’ll save $300 a month.

Now I just made my health insurance like car insurance. Since I’ve taken the middle man out of paying for most of my medical bills, I’ll probably pay more attention to how much things cost, and shop around more. If more people did that, and medical providers had to start competing, then healthcare costs would decline.

I’ll let you know how it goes.

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Comments

One Response to “My health care decision”

  1. Suzanne T
    June 29th, 2007 @ 10:52 am

    I like your health insurance story. I’d like to talk to you further your story. Can you email me?