I’ve had health insurance in high school and college, but now that I
am self-employed and making OK money I guess I can start up on some
health insurance. I am not a smoker, never used tobacco, not married
and have no kids. I have good eating habits, work out 5 times a week.
Now, I know that tomorrow anything can happen. That’s why I want
medical insurance. But, I was thinking of getting a plan that can cover
me for any “catastrophic” events. I don’t mind paying for prescription
drugs out of pocket, doctor visits, etc as my medical history shows
that I’ve never done this in the last 5 years.

Do I really need to have an all-extensive plan for my age?

What’s the perfect plan for me?

My medical history: Had digestive surgery at the age of 12, but
everything is 100% now. Will that hurt my application? Went to ER once
when I was 19 for food poisioning.

I was looking at BlueShield as they are the most reputable. I live in
San Antonio, Texas.

I think you are wise to shop for a low-cost “catastrophic” plan with a
high deductible. You would easily save more than a hundred dollars over
a standard plan. It’s up to you how catastrophic you want to
go–something like a $1,000-2,000 deductible is quite affordable if
you’re “making OK money”. A plan with a $5,000 deductible is even
cheaper (you’ll cold probably save $300-500 a year over a plan with a
1,000 or so deductible), so you’re basically gambling on not needing a
$5,000 hospital stay in the next 5-10 years.

Check out www.ehealthinsurance.com–just plug in your basic data,
anonymously, and get quotes on a bunch of different plans. In the same
price range you’ll find some plans with a lower deductible, but where
you pay 100% of office visits up to the deductible, vs. plans with
higher deductibles but where you pay only a certain copay on office
visits. I think it’s kind of 6-of-1, half-a-dozen-of-the-other here
which is the most sensible, since despite (or perhaps because of) your
otherwise excellent health standing, you are still a candidate for
either larger-scale or ongoing minor health needs (broken bones, torn
ligaments, and other features of life for the young-and-reckless).

Then you probably want something that minimizes premiums
if you arent going to visit the doctor much.

The standard plan this year seems to be
(1) premium ($90 per month for your age group)
(2) $2000 deductable
(3) 20% copays capping $5000
(4) They pay 100% the next $1,975,000.

The minimum you’d pay for the year is $1080.
The maximum, if something serious happened, is $8080.

If one visits the doctor alot and thinks they’ll easily reach
the deductable, then one can pay a higher premium for
a smaller deductable. However, the insurance company
doesnt offer the lowest rates to sicker people.

Theres a new type out called Health Savings Account
that allows to save tax free for the deductable and copay.
And unused amounts would role over year to year.
So one could build a “rainy day fund” for that $8080 over
several years. I dont know anyone who has bought one.