I have health insurance in place. I pay about $55 a month for having it in place. It covers seeing a specialist and also surgery.
I'm 23 at the moment but can only see this getting more and more expensive as time goes on.
I've been doing a bit of research into "self funding" health insurance. Basically, instead of paying the insurance company my $55 per month, I pay myself into an emergency fund account and it is there when I need it.
The reason I'm thinking of this is that for my $55 I'm paying, the insurance company has it all figured out that I'd only ever likely claim on about half of that. The other half goes into paying the insurance companies expenses then a big profit for them on top.
I'm still keeping my car and basic contents insurance in place. Just in case I crash into a BMW or burn down our flat.
Thoughts are appreciated. Especially from anyone who is self funded.
I'm 23 at the moment but can only see this getting more and more expensive as time goes on.
I've been doing a bit of research into "self funding" health insurance. Basically, instead of paying the insurance company my $55 per month, I pay myself into an emergency fund account and it is there when I need it.
The reason I'm thinking of this is that for my $55 I'm paying, the insurance company has it all figured out that I'd only ever likely claim on about half of that. The other half goes into paying the insurance companies expenses then a big profit for them on top.
I'm still keeping my car and basic contents insurance in place. Just in case I crash into a BMW or burn down our flat.
Thoughts are appreciated. Especially from anyone who is self funded.