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I can't make a decision, so looking for input. I haven't had health insurance in several years (since the divorce). I'm also rarely sick, and it is even more rare that I go to the doctor. After the divorce and implementation of Obamacare, I've said that I would just gamble with not having it, until I turn 35 or so, then sign up. I'm 34 now, and we are in open enrollment. I'm also currently on a strict budget, as we're saving up for land and to build a house. It isn't a matter of whether I can afford it or not, it's a matter of whether I want to afford it or not.
In the last 10 years, my only health issues have been as follows.
I have dismissed all the HDHP (high deductible plans) that are available to me. That leaves me with 4 plans. Deductible levels are $500, $1500, $2500, and $6000. $500 deductible plan is $400/mo to me, and each plan is about $20/mo cheaper than the plan above it. I'm also responsible for 20% of the bill after the deductible is met with all of those plans.
Speaking in round numbers, that is an additional $4800 that could go towards my property/house fund, rather than be spent on insurance. There is always the "what if" scenario, and yes something could come up and wipe out my savings, but the chances of that are relatively low given my history. My kids are covered through a great and very low cost plan through my ex wife's employer, so that is not a concern.
So, what would you do?
In the last 10 years, my only health issues have been as follows.
- Basal Cell Carcinoma, resulted in MOHS procedure, plastic surgery to fix the hole, and the subsequent routine check ups (they cut or burn something out at every single check up).
- Torn rotator cuff and impingment/bursitis in my left shoulder, subsequent physical therapy, cortisone shots, etc. Have not had the surgery but need to. This is crippling at times, and absolutely affects my life negatively. I can't work out, can't do certain things, etc. The flip side is, there is no guarantee surgery will fix anything and a good chance I could be worse off than I am now should I choose to do the surgery.
I have dismissed all the HDHP (high deductible plans) that are available to me. That leaves me with 4 plans. Deductible levels are $500, $1500, $2500, and $6000. $500 deductible plan is $400/mo to me, and each plan is about $20/mo cheaper than the plan above it. I'm also responsible for 20% of the bill after the deductible is met with all of those plans.
Speaking in round numbers, that is an additional $4800 that could go towards my property/house fund, rather than be spent on insurance. There is always the "what if" scenario, and yes something could come up and wipe out my savings, but the chances of that are relatively low given my history. My kids are covered through a great and very low cost plan through my ex wife's employer, so that is not a concern.
So, what would you do?
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