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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: excardog who wrote (37140)12/5/2004 2:05:22 PM
From: Big Dog   of 206182
 
You might look at a Medical Savings Account policy (Golden Rule offers one, and they may be called Health Savings Accounts now) with a high deductible. My deductible is just over $5000, after that it pays 80% for the next $5000, then 100%. Family of four monthly premium is approx. $525 with $25/mo going to the savings account.

I have long believed that insurance should be for "catastrophic" uses and not routine doctor visits, etc.

I have accumulated more than enough in my Medical Savings Account to pay the deductible amounts for a year. Contributions (including lump sum amounts equal to 12 X the premium I think) to the MSA are tax deductible and the withdrawals to pay medical expenses are tax free, earnings are tax-deferred if withdrawn for non-medical purposes. You can even invest the balance in the MSA in mutual funds, or it pays 4% interest (currently).

For those folks who don't have access to group coverage, these individual MSA policies are quite good, I have had it for years.

big
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