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If you’re healthy and have some money in the bank, you might want to consider a high-deductible health insurance plan.
The plans offer cost savings over plans because of the high deductible, and they protect you from catastrophic health events.
If you’re in good health, rarely need prescription drugs, don’t have a pre-existing condition and don’t intend to get pregnant, you might consider a high-deductible plan.*
Under those circumstances, you won’t have many out-of-pocket expenses. Meanwhile, you can relax and enjoy the comfort of having protection against any unexpected and expensive medical costs.
The only caveat: You should put aside enough money (typically from $1,000 to $5,000, depending on your policy), to cover your deductibles in case of an emergency. That’s why pairing your high-deductible plan with an IRS qualified health savings account makes this combination attractive.
(*Note: Some plans have a one-year waiting period before they cover maternity care or pre-existing conditions.)
