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health insurance: is cheaper always better?


I’ve read many articles about frugal health insurance strategies for people under age 30. Most of the articles agree on never going without coverage, shopping around, and considering an HSA. Some authors also agree that if you are younger, you may be able to get away with “lower” coverage, because there may be less of a chance of suffering a life-threatening illness. I like the HSA option - even though I have never had the opportunity to open an account. I also believe in shopping around and am adamant about not going without coverage.

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Health insurance is something that I do not cheap-out on when purchasing. One reason for this is because I was diagnosed - in 2018 - with an untreatable chronic condition that I had been suffering from since I was 15 years old. After being prescribed medication, that I must take every 4 hours each day, I began to slowly start enjoying the things that I once was able to do - like eating! At the worst point - around December 2017 - I had lost about 20 pounds. I was down to a weight of 160 pounds. I’m 6’2” tall, so losing the weight was pretty noticeable. After being prescribed the medication, over the 2018 year, I gained about 30 pounds. I feel amazing! Due to this illness, I am willing to spend the extra cost to get adequate healthcare.

I currently have an HMO with a Southern California medical provider, purchased through my employer, which costs me about $300 a month. The doctor who diagnosed my condition works for my current provider, and due to this, I feel a loyal connection to the company. Now, if I did not go through the experience that I had, I would most likely be using an HSA. I believe that my provider recently created an HSA option and am eager to look into it when I have some free time. The nice thing about HSAs are that the money put in is pretax, and after a certain amount of time, and money invested, you are able to invest your funds.