Type of Health Insurance?
Dave explains different types of health insurance to a caller.
ANSWER: The first thing you should do is go to an independent health insurance agent who can shop around for the best deal. You should get a $1,000 deductible, 80/20 policy – a basic major medical policy – with which most doctor visits and little things are going to be out of pocket. You’ve got to get some insurance as soon as possible because a major health issue could bankrupt you.
You also need to check into an HSA. The deductible is higher, but it allows you to save money – tax-deductible – that can be used for your medical bills to cover the high deductible in case of a medical emergency. This will reduce your premiums even more. Where you could probably get a $100 premium with traditional health insurance, with the HSA you could get a $60 premium.