A weird world where I pay 235/month for health insurance and am about to pay 170/month for housing. Travel insurance comes in at about 100/month, which I could start beginning 2018.
I could technically start November to December but that would require some annoying HSA excess contributions based on the prorated portion of the year I had health insurance which I don't feel like doing at the moment since I'd lower my coverage before I feel aware of what I'm doing.
Self insuring seems the most financially intelligent choice from my perspective since I literally haven't spent a dime in health care since moving. I feel healthier and more aware (no drugs, not sitting, walk everywhere, eat less, fast more).
Do any travellers have experience or wisdom on this? It feels ludicrous to pay more for insurance I never use than for housing.
Health Insurance Vs Housing
Re: Health Insurance Vs Housing
hospital visit in CM is less than $100 including meds, or half of Felipe's monthly premium.
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slowtraveler
- Posts: 722
- Joined: Sun Jan 11, 2015 10:06 pm
Re: Health Insurance Vs Housing
@Brute
You make a convincing point. Since my November premium is due soon, let me do some math:
Drop HI
3400×10/12 months=2833 *marginal tax rate
Hsa contribution available
0 premium
Keep HI
3400*marginal tax rate
Hsa contribution available
-235*2=-470
Premium remaining in year
3400*2/12= 566.67 excess contributions if avoid health insurance for next 2 months, get this reimbursed and hopefully e deposit the check.
And I will save $300-400 in premiums, which covers medical expenses. Driving insurance is something I will get if I start driving, but that will also be as much as housing. Cheap housing is making other expenses seem high in comparison.
On health insurance paying date, I will confirm my math and likely self insure.
You make a convincing point. Since my November premium is due soon, let me do some math:
Drop HI
3400×10/12 months=2833 *marginal tax rate
Hsa contribution available
0 premium
Keep HI
3400*marginal tax rate
Hsa contribution available
-235*2=-470
Premium remaining in year
3400*2/12= 566.67 excess contributions if avoid health insurance for next 2 months, get this reimbursed and hopefully e deposit the check.
And I will save $300-400 in premiums, which covers medical expenses. Driving insurance is something I will get if I start driving, but that will also be as much as housing. Cheap housing is making other expenses seem high in comparison.
On health insurance paying date, I will confirm my math and likely self insure.