Got a new job that doesn't provide health insurance-but will pay costs via money- reasonable monthly amount?
live in California, dont know much about health insurance,26 years old, male,
so is it a health savings plan, or a flex spending account? Flex spending accounts allow you to put money into that account from your paycheck before taxes (so your taxable income is less). The only hitch is that if you don't use it by the end of the year, the money goes away. Health Savings Plans, however, require that you purchase your own high-deductible insurance plan, and then you can put money into the HSP pre tax, like the Flex account, except at the end of the year, the money's still yours, and if you don't use it, it earns interest at the going market rate.
So as a young pup, you could get a high-deductible insurance plan for relatively cheap..
below are some resources for you. Good luck!
Here in California, the most popular selling plans are PPO NO deductible programs. Blue Cross of California offers the best selling plan, called the "Right Plan PPO 40" this plan is offered three ways, No RX (I do not recommend) with Generic Rx only, and both Generic & Brand name covered. Premiums on this plan in California are approx. 70-95. per month for someone under 30. Blue Cross of Ca. also has the new Tonik plans available, these are plans made specifically for young active adults, they offer three "Thrill Seeker", "Part time dare-devill" "Calculated Risk Taker" the unique part about these plans is that they offer copays for dr. visits, and ER visits, and Dental and vision program. If all you want is a High Deductible plan, then I would suggest a Health Savings Account, Blue Cross offers a PPO 3500 at a very low rate. I would recommend you visit these sites for more specific information.
www.HealthCareMan.com
www.HSAInside.com
Answers:
If you are healthy, you don't need health insurance, except for perhaps a catastrophic health plan.
Take the money that would have gone into premiums and save it up. Buy a catastrophic coverage plan (which pays only if you get really sick or have an expensive claim).
Then try to live as healthy as possible and if you don't need to go to the doctor you've saved what you would have paid in premiums to a regular health plan.
As long as you keep the catastrophic plan, you'll be covered in the event you really have a sickness/hospitalization.
Another option similar to this is a Health Savings Account (HSA)...same concept except you get all kinds of retirement and tax advantages by continuing to save up the money you don't spend on health care.