Ok, I have been working for my company for about a year and a half now. About a month ago I just started a health insurance plan...now my company is taking about $90.00 EXTRA out of each of my checks!!! This is a big financial shock to me. I don't know if I can afford this. I'm young, I have no health problems at all (thank GOD, and knock on wood it stays this way...), but I DO have rent to pay and all my other bills to keep up with...I live on my lonesome, so it’s just me paying all the bills (no parents to help or boyfriend or husband…)
SOOOOO, what do you think: is it a good idea to cut the health insurance out until some other time??
2007-03-08 04:22:53 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
No, don't cut your health insurance. Remember that it is way cheaper than having to pay out of pocket for something that can come up.
You just have to cut your other bills down somehow. Turn down the heat a few degrees or shut off the air and open the windows. Cut coupons, walk instead of driving, shut off your internet at home (use work or library), drop your cell phone plan down to less minutes, stop buying that extra large coffee in the morning and make it at home instead, stop drinking pop and bring a water bottle from home, make your own lunch for work, buy things that you 'need' and not 'want', etc.
There are several other ways to save money, I just wanted to give you some easy examples.
Good Luck!
2007-03-08 04:30:47 · answer #1 · answered by Jo 6 · 2⤊ 0⤋
I would really to cut something else if you can. I lived for years without health insurance while I was a grad student, and I was lucky, with only had about $300 in health costs in that time. BUT a few years ago my wife had a serious (life-threatening) problem, and was in the hospital for about 5 days after surgery. Luckily we had medical insurance at that time, because the total bills came to about $20,000. If I hadn't had medical insurance at that time, I'd still be in massive debt...
2007-03-08 04:29:21 · answer #2 · answered by Qwyrx 6 · 2⤊ 0⤋
I would say keep it, see if your company can take it out pre-tax so that your taxes will be a little bit less.
I went for a while without health insurance in between jobs, and one torn ligament from slipping on ice and about $3K later I wish I had gotten COBRA or a self policy. I had had no health problems either and thought I'd be okay with out it.
If your insurance premiums are not taken out pre-tax, you might be able to write them off on your taxes if they add up to more that 7.5% of your earning.s
2007-03-08 04:29:43 · answer #3 · answered by deebee 3 · 0⤊ 0⤋
2 things:
1. At the end of the year, sign up for the cafeteria plan/flexible spending account, and pay your premium with this. That should lower it to about $60 after tax. If your company doesn't have a cafeteria plan, lobby for one. It's cheap to administrate and a nice fringe for them to give you.
2. See if they offer other plans. If you are young and healthy, get a higher deductible/higher co-pay plan, which should cost less. I am saving about $100/month by going with a higher co-pay plan.
2007-03-09 04:03:56 · answer #4 · answered by Quixotic 3 · 1⤊ 0⤋
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2016-12-05 10:12:13 · answer #5 · answered by ? 4 · 0⤊ 0⤋
NO NO NO!
You can't forecast a medical emergency. Why gamble with your health? That's a disaster waiting to happen. You have to have a safety net in case of unforeseen emergencies.
2007-03-08 04:27:01 · answer #6 · answered by BosCFA 5 · 1⤊ 0⤋
I slipped and broke my collar bone. My insurance costs me $140 per month. I have stuck them for $8000 so far.
2007-03-08 04:30:41 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I would never risk not being covered. If something did happen and you had alot of medical expenses, you would be in debt for a long time.
2007-03-08 06:26:02 · answer #8 · answered by KathyS 7 · 1⤊ 0⤋
The true question is do you believe in God? if you do you can forfeit your health insurance.
2007-03-08 04:27:14 · answer #9 · answered by JMAN 2 · 0⤊ 3⤋
NO!
2007-03-08 04:33:13 · answer #10 · answered by david c 1 · 0⤊ 0⤋