What We Have for Health Insurance
We only use our health insurance on the very rare occasion that I hurt myself snowboarding or riding my MUni. But we would like to have the protection there just in case something big does happen. And in the future, we would like to finance a childbirth or two, dental procedures, and maybe LASIK. And for this planned stuff, we know we have a couple years to save up for it.
The best solution to this problem is an HSA qualified high-deductible health insurance plan. We have a $4,000, 100% coinsurance policy with HumanaOne.
We combine this high deductible health insurance plan with a health savings account with Saturna. After helping many, many clients choose an HSA, I’ve found Saturna to be a great choice for people looking to really invest in their HSA. Saturna has a lot of good investment options with no fees, but we selected the Amana Growth Mutual Fund.
There are many health insurance options available in Colorado, and this type of setup with these companies happened to meet our specific age, zip code, risks, and goals the best. If you’re 30 years old, live in Broomfield, Colorado, and have the same lifestyle and goals for the future that we do, this plan will work best for you. But if you’re not an exact clone of me, you may want to contact us so we can help you find the best plan for your needs.
Update: Some time has gone by now since this post was written and I thought I would note that I have hurt myself riding my MUni and we have financed a childbirth with the funds in the HSA. We’ve maxed out our contribution again this year (2008), but we still have the same plan.
May 17th, 2007 at 4:24 pm
[...] But as a health insurance broker who has an inside view of the Colorado health insurance industry, Ari doesn’t completely understand the current health insurance market. The title of Ari’s article is “Leave Decisions on Health Coverage to Individuals”. I’m not sure how old Ari is, but he and his wife might be a lot like me and my wife. Right now, we’re young and healthy and we’ve got total control over our health care decisions. We also have a high-deductible individual health insurance plan along with a Health Savings Account. [...]
Jun 5th, 2007 at 9:52 pm
[...] When I went to get my Rx filled at Walgreens, I gave them my health insurance ID card even though what I have is an HSA just in case Humana gives me a discount. For some reason, he came back and said I only [...]
Jun 5th, 2007 at 9:56 pm
[...] which is not covered by any insurance policies. So we’re putting money aside each month in our HSA so that we’ll be able to pay for her services. We would have a baby at home regardless of the [...]
Jul 24th, 2007 at 5:49 pm
[...] of consumer directed health care plans (like the HSA-qualified plan that Jay and I have) are pushing for transparency in health care. The idea is that if the deductible is high and the [...]
Nov 6th, 2007 at 1:31 pm
[...] deductible if you end up having a claim. In theory, these plans are a great idea. Jay and I love our HDHP/HSA, and have lots of clients who agree. But if an insured can’t or won’t take [...]