If you have a job that offers benefits, it’s probably around the time of year where you need to pick your benefits.

Yesterday I talked about how I decided I didn’t need long term disability insurance. Today I want to talk about how I do need Health Insurance, and why I love my High Deductible plan.

Use “Health Insurance Made Easy” To Pick What’s Right For You

doctors with patient

photo credit: flickr.com/seattlemunicipalarchives

I made a spreadsheet last year, Health Insurance Made Easy, to help me pick my insurance plan. It’s free, just like everything else on my website. You just put in the parameters of your choices, determine how much you think you’re going to spend in health care costs, and it’ll tell you which plan is best.

The HIME tells me to get my company’s high deductible health plan (HDHP), which is awesome! Here’s why:

6 Reasons My High Deductible Health Insurance Rocks!

  1. It has really low premiums (I pay $23 a pay period)
  2. I’m eligible for a Health Savings Account (which allows me to save money year over year that grows tax free and can be used at any time for health care spending)
  3. My employer gives me $500 in free money in my HSA.
  4. I get free preventative care, including an annual physical with bloodwork
  5. It has a maximum annual out of pocket expense of $5,000. That means a health problem won’t make me go bankrupt!
  6. I’m down with HDHP (yeah you know me!)

That reminds me of a song. Enjoy!