| It's hard to find even one person in Alabama | | | | you fund with tax-free dollars. Any health |
| who would not like to find cheap high risk | | | | costs that you have during the year you will |
| health insurance. Right now, today, a full | | | | pay for using tax-free dollars and any money |
| 16% of all Alabama residents find health | | | | remaining in the account at the end of the |
| insurance to be so expensive that they can't | | | | year will be rolled over into the next year, |
| afford coverage at all. Luckily there are a | | | | allowing you to build up a tax-free nest egg |
| few things YOU can do that will make the cost | | | | over time. |
| of your health insurance more affordable. | | | | |
| | | | You will be required to purchase a very |
| Let's start with something easy, such as | | | | low-cost super-high-deductible health |
| setting up an automatic payment plan for your | | | | insurance policy. This policy will have a |
| monthly premium. If your insurance company | | | | deductible of at least $1,200 if you are |
| doesn't have to send you a costly bill every | | | | purchasing an individual policy or at least |
| month they will pass the savings on to you. | | | | $2,400 if you are buying a family policy. |
| | | | |
| Don't smoke and don't use chew or any other | | | | These policies have a deductible so high that |
| tobacco product. You've heard it all of your | | | | in a normal year they won't pay anything |
| life: don't smoke. Now here's a good reason | | | | toward any of your medical bills (that's what |
| to stop smoking that will save you a LOT of | | | | your tax-free savings account is for). So |
| money every single month. | | | | what's their purpose? |
| | | | |
| Get some exercise and stop eating so much | | | | These cheap high deductible policies are a |
| fast food. You know that fast foods aren't | | | | safety net in case you should suffer some |
| good for you. They traditionally have way too | | | | type of catastrophic accident or illness that |
| much fat, too much cholesterol, and way too | | | | would otherwise wipe out your savings account |
| much salt, among other things. If you cut out | | | | and possibly even force you into selling your |
| all fried foods, most fast foods of any kind | | | | home. |
| and if you can get just a bit of exercise, | | | | |
| such as walking around the block a few times | | | | But whether you decide on traditional health |
| each week or biking for a few of your | | | | insurance or you are interested in one of the |
| errands, you'll not only look and feel better | | | | tax-free HSA accounts your best bet - by far |
| but you'll save money on your health care | | | | - for finding the cheapest insurance in |
| and, ultimately, on your health insurance as | | | | Alabama is to look for it online. Online |
| well. | | | | insurance sellers have almost no overhead and |
| | | | they are able to pass their significant |
| If you can afford to increase your co-payment | | | | savings along to you. |
| from 25% to 50% you can save a small fortune | | | | |
| on your health care costs. Likewise if you | | | | Don't make the mistake of just accepting the |
| can afford to increase your deductible you | | | | prices that you find on only one of the |
| can save a lot on your health insurance. | | | | websites designed to let you compare prices |
| | | | on health insurance. Instead look at the |
| There is something a bit new and radical that | | | | prices from at least 3 different sites and |
| you may want to look into if you're generally | | | | then take the very best price you've found |
| healthy and you want to save a lot on your | | | | with the knowledge that you have really and |
| health insurance. It's called a Health | | | | truly found the cheapest medical insurance in |
| Savings Account, or an HSA. An HSA is a | | | | the entire state of Alabama. |
| special tax-sheltered savings account that | | | | |