Health insurance is expensive. There are lots of things you can do that will lower the cost of your health insurance to some extent, things like buying group health insurance, quitting smoking, losing weight, cutting out participation in extreme sports, keeping your credit record clean, eating healthier and exercising, increasing your co-payment, increasing your deductible and buying your insurance online.
If, even after doing all of those things, you still find that health insurance is too expensive there is one last resort, one last way to buy cheap high risk health insurance.
The program is called an HSA, or a Health Savings Account. An HSA is a tax-free savings account that you can only use for medical expenses. In addition to the tax-free savings account you will also have to purchase a low-cost super-high-deductible health insurance policy. This policy will have a deductible of at least $1,200 if you are an individual and $2,200 if you are covering a family.
Obviously with deductibles that high these policies will not pay for any of your medical expenses in a normal year. That’s what the tax-free savings account is for.
What makes this plan so valuable - especially for people who are generally healthy and do […]

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