Finding Affordable Health Insurance

One of the challenges of retiring early or being self-employed is finding affordable health insurance.  I’m very frugal and don’t spend a lot of money but I wouldn’t go without health insurance to save money.  The risk is too great.

I currently have private health insurance and pay a little less than $70 a month.  This is a good deal for someone who is 41 years old and overweight.  It is quite a bit cheaper than my student health plan and it provides more coverage.  The deductible is $5000 but I’m not too concerned about that since I rarely visit a doctor.  If I do need to visit a doctor I can visit the student health clinic for free.  The purpose of  health insurance for me is to keep me from being wiped out financially if I suffer a serious injury or illness.

My insurance is cheap but as I grow older I’ll need to find more ways to keep the cost down.  One option is to raise my deductible to $10,000 but I’m not going to do that until I have more savings.  I could also open a Health Savings Account or possibly deduct some of the health insurance cost as business expense.  I need to do more research on these.  Right now I probably won’t owe taxes anyway so a Health Savings Account is of no benefit to me.

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