Health insurance is so expensive, and we rarely use it. I am thinking about taking out my own high-deductible policy for catastrophic coverage and paying everything out of pocket. Has anyone tried this? Any recommendations for companies that offer high-deductible policies for catastrophic coverage?
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I would never suggest to not elect group coverage. Group coverage is cheaper because you are paying the group rate. An individual policy is usually a lot more expensive and your rates can increase every year. You can not afford to not have insurance. What would happen if you had a major medical claim. You can not work your way out of a claim for hundreds of thousands of dollars to some claims that are one million dollars. I decided to quit my "big boy" job 3 years a go. I did purchase a individual policy and my premiums have increased every year by at least 15%. I am now paying $174 a month for health and rx coverage (no dental and vision). If you are still thinking about making such a bold move, speak to an insurance advisor.
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