How do you all afford your medical insurance? My wife was laid off and we have been looking into plans. It's unbelievable the rates they want for self insured. We are both pushing 50 and have 2 kids still in college. No major helath issues and it is still close to a grand each month for average coverage with no dental. Cobra is worse than that!

Is there a way to write it off on your taxes?

Need help.

 

Blue cross blue shield has me well covered with minimal deductibles, RX plan, etc for less than $250/mo.

 

My medical and dental runs me about $480 a month for myself, my wife, and my two kids, with a $1000 deductible.

 

Are you gonna spend $1000 a month at the Dr.? what a rip.

 

A single emergency room visit can eat up 10 times that amount.

 

Ever think about an HSA with a high deductible health plan? sounds like this maybe something right up your alley.

Its basically a savings account that you put money into only for medical use; things you would normally expect your insurance to cover, except that you pay for it out of this account. All the money you contribute to this account is tax free, and it is your money. You make the decisions on what doctor to use, or what eye glasses to get. Anything you don't spend just stays in the account until you have some sort of medical emergency. You are looking at $12,000 a year for coverage when you might only need routine doctor visits. Under the HSA you would only pay for those doctor visits, and all the other monies you deposited into the HSA are kept for a time when you needs increase.

To have an HSA the government requires you to have catastrophic insurance, what they call a High Deductible Health Plan HDHP. This insurance covers high cost medical treatments like Hospital stays, CT scans and the like. This insurance has a high deductible; in the case of a family anywhere from $2200-$6000, before it kicks in. You pay for your HDHP insurance premiums out of your HSA account, so the premiums are tax free too.

http://www.ustreas.gov/offices/publi...english-07.pdf

from the brochure

 

[quote="Rev.Vassago"]A single emergency room visit can eat up 10 times that amount.[/quote


It's free at County. My point is that $1000 a month to me is a rip off unless you use it.

 

I believe that health insurance for self employed are 100% deductible as of the last year or so.

 

by the way I pay $198@ month for just me.
www.healthinsurancegiant.com

 

I don't believe its a write off, but I'm not sure. I know when you spend a LOT of money in a year on hospitalization/medical treatment/RX, it becomes a write off. This is only after the expenses are a large % of your annual income (I'd guess net, not gross).