Individual Health Insurance
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By In Health Financial Accounts, Health Savings Accounts (HSAs), High-Deductible Health Plan (HDHP), Individual Health Insurance

High Deductible ≠ HSA-Eligible

I saw an interesting question posted on Twitter this weekend that got me thinking about HSA eligibility. The question was about whether the new short-term, limited duration health plans being offered under a new expansion by the Trump Administration qualify as high-deductible health plans (HDHPs) and, as such, also qualify for health savings accounts (HSAs). I didn’t see that an answer was tracked down yet but the gist of the argument is that since HSAs are governed by the IRS and not Health and Human Services, which approves health insurance plan designs, then an STLD plan could also be an HDHP.

Why should this wonky distinction matter to you? Two reasons:

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By In Health Insurance, Individual Health Insurance

Why You Need -Good- Health Coverage

Over the past month, I’ve had a ton of conversations with people who work in and around the health insurance and benefits businesses about what it means to have insurance. A lot of them are surprisingly candid about what’s good about coverage and what’s not, and we look forward to having a lot of them share those thoughts with you to help you plan for a hopefully-early-retirement future.

I’ve also had conversations through social media about whether people who are responsible for finding their own health coverage — self-employed, freelancers, gig workers — should get an expensive ACA plan or get a short-term health plan. I’ll tell you now that, as a 40-something with a wife and kids, short-term coverage is out of the question for me. But the bottom line is that it should, in almost all circumstances, be out of the question for you, too.

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By In General Benefits Knowledge, Health Insurance, Individual Health Insurance

What FIRE Folks Need to Know When Shopping for Individual Health Insurance

We’ve written some articles on considerations to make for those who are selecting employer-based benefits and will write SO MANY more that you’ll not know what to do with all of them! But for today, since it’s the first day of the annual individual health plan open enrollment period (OEP for short, and it lasts Nov. 1-Dec. 15, 2018), this post focuses on those who are self-employed, contractors, gig-economy adventurers or, if you’re really lucky, already retired and way under 65 years old. If any of these scenarios apply to you, you’re likely eligible to buy an individual health insurance policy and individual-based other coverage, too. Here’s a few tips on what to look for and what to avoid.

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