From
Ampminsure.org: Health insurance is there to pay for your medical treatments and hospital expenses if you have a sudden sickness or an accident. A minor health treatment can cost you much and significantly reduce your bank balance. Health insurance helps you when you need medical care that could be expensive.
Selecting the RIGHT HEALTH INSURANCE
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Honestly, health insurance can be a crapshoot. Unlike homeowners insurance where most insureds never make even a minor claim, or auto insurance, where major claims there, too, are more or less a rarity, no one gets through this life without falling sick at least once, and the older one gets, the more minor ailments have a way of coagulating into major crises. The cost of a week's stay in a hospital for a typical illness or accident can easily dwarf the average property damage claim. Do you feel lucky? Do you have a family history of health and longevity, free from the common scourges like diabetes, cancer, and the like? Perhaps then a high-deductible extended-hospital-stay-only type of policy would fit you best.
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On the other hand, say you have poor health, are frequently ill, and may even have pre-existing conditions that prejudices insurers against you. You may want to move to Canada or Europe where the governments provide free care, assuming you are willing to emigrate there and they would be willing to accept you. Otherwise, maybe like the guy in my town, you can get a paper cup and sit on the sidewalk outside the Post Office with a sign that reads, "Have Colon Cancer, Please Help".
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You would think that the above suggestions would be taken as common sense. However a surprisingly large number, yea, probably most of the population doesn't even think to ask the obvious questions. A little research could save you a bundle of dough, or at least give you the peace of mind that comes from truly understanding the coverage you're getting or not getting. When you're sick or injured and sprawled on a guerney is no time to find out what your health plan covers or doesn't.
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Pay your premiums annually. If you have an extra five grand lying around you can save a few bucks by paying your yearly premium in one lump sum. Maybe you'll be eligible for a pre-payment discount.
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Health insurance can be extremely costly for self-employed people. By joining a labor union or food cooperative, you may have the opportunity to enroll in a group health insurance plan and save money.
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