Want to buy health insurance or put the $ in a savings account?
I've been debating whether to get health insurance through my employer or put that money into a savings account. I currently uninsured, but leaning toward her. All that talk, however, counsel put it in a savings account fail to pay insurance companies. What is your opinion?
No doubt, reservation or hesitation: Get the insurance. I do not know who is advising you to put the money in a savings account, but not people who are aware of the health care costs without insurance. Does not even need be catastrophic to be expensive. I have a bad stomach virus when I went to the clinic … Total cost without insurance? 897.13. $ Total cost with insurance? $ 10 copayment. Illustrations catastrophic are the most dramatic, however. $ 5 +, 000 for a broken limb, $ 100 +, 000 for cancer treatments, etc etc etc. If you have a option in the employer's health insurance is offered (and most companies have more than one option is available), look for a plan that is HSA compatible. This way, you're paying the insurance company less and you have an account that goes around from year to year, accumulates and may be tax-free interest, depending on the state. A case of having your cake and eat it too. But the plan chosen, or not: get the insurance.
PVEA / PVSEA HSA Opinion Video Part 1 of 2