My breathing just got short and winded just typing the title because I want to cry about the cost of it. However, hearing of way too many health scares among friends and family the last year or two, I know health insurance is a necessity. A visit to my doctor would be $90 (that is with their paying cash “discount”) and that includes nothing else. So, after months of “living on the edge” without out and debating the extra large dent in my budget, I finally bit the bullet and bought it.
The big downfall to living in New England is how expensive things can be and health insurance is no exception. I compared what I would pay in other states I have lived and I could get individual health insurance considerably cheaper. My options here in New Hampshire started out at $205 and went as high as about $400 per month. The $205 was a joke. It covered NOTHING until the deductible was met. The deductible was $12,000 (no typo there)! I thought to myself, I would almost be better off saving $205 every month toward medical expenses. Of course, the major flaw in that theory is what if something goes wrong and I have a major medical emergency.
So, I kept looking and debating and almost bought a policy for $243 a month. It has a $7500 deductible; doctor visits are only $30 (limit four per year) and then co-insurance is 30% after the deductible. I didn’t even consider any policies with a deductible of $5000 or less because those were $330 and up.
I ended up with a policy with a $7500 deductible after all. But, for $267 a month I get a better deal than first choice. Doctor visits are $30, but there is no limit on visits and my co-insurance is ZERO after the deductible. By the way, all policies included prescriptions for $15 each (in most cases anyhow).
I cringe at the cost, but I also know it is irresponsible not to have it. Besides, do I even think twice about renter’s, car, dental, or life insurance? Nope (of course they are all a LOT cheaper)! This is just as important, if not more so. Luckily, I have added some freelance work that will cover this cost. Debt repayment won’t get ramped up much, but at least I have peace of mind. Do you have individual health insurance? Is it as costly as mine?