I’ve been self-employed for many years. Even when I had a job in the early 90’s, the company didn’t provide health insurance. So, I have an individual health insurance policy. It started out at about $100 a month. It seemed expensive, especially because I rarely used it. The premiums increased every year, but, I knew I couldn’t go without health insurance any more than I could go without car insurance. So, I paid … And paid … Every month … Year after year.

Starting January 1st, my premium rose about $40 to $550 a month. And I still don’t use it. So, I knew I had to do something. I’ve lowered my premium in the past by raising my deductible. But this time, I wanted to REALLY lower it.

My policy is with Blue Cross Blue Shield. I learned that if I stay with them, I can change to any other policy they have without worrying about passing a physical or even filling out an application.

I found a plan that sounds good. It has a $5,000 deductible. That sounds high, but the policy works a little different from most. Wellness visits and routine tests are covered. If I go to a doctor with a medical issue, I pay the preferred, negotiated rate – Thanks to Blue Cross Blue Shield. There’s no co-pay. When I reach my $5,000 deductible, medical bills are covered 100% – Not 80/20.

I thought one drawback was going to be the network providers that I had to use. My policy is Ohio based, but I spend winters in Florida. According to the insurance agent, I can use any Blue Cross Blue Shield provider in the US. There are even providers internationally. At this point, I’m just about sold on this policy.

The deciding factor was the premium. I now pay $225 a month. That’s a savings of $325 a month that I can use for doctor visits. And if I don’t go to the doctor, I get to keep the $325.

This plan is called Lumenos HSA 100. Learn more of the plan details. Mine is an Ohio plan, but it may be available in other states.