The American Dollar
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One industrious American family's focus on a financial goal of freedom. Through worldly personal finance education, here is our story.
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Our Story: Both my wife and I are 27 years old and have gone through financial hell and back. Now we are on track to financial freedom, however we are not financial advisors or professionals, just everyday people. Share our journey from a negative networth and email us if you have questions or comments! :)



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Thursday, August 24, 2006

Changing Health Insurance


Health insurance options: the most overlooked financial topic (to me at least). Since my new hire date, I am approaching the time where I will be eligible for full health benefits. They presented me with 5 different options that can be a little intimidating and confusing with what is covered, being a PPO, HMO, POS, etc. During time with my previous employers, I would have to select from either one of two plans PPO and HMO or they would have only one option. Having health insurance is as important to your financial future as socking away retirement money. I've been doing nothing but researching for the past couple days and am getting to the nitty gritty fine print of this. I love reading about.com and wikipedia.com but mostly from the acutal insurer sites am I getting the most info. I had to call a couple to make sure they cover us in certain situations. Health insurance needs differ from individual to individual and are defined in quality, cost and coverage. I want a family plan that covers with the least deductible or 100% covered GYN/physician visits, maternity care and child immunizations. We also need emergency room/ urgent care visits costing the least amount in a deductible. To bring this closer to home, when I select a plan with my new company, my wife will cancel all her vision, dental, and health at work and will save us about $80 more a month which means + income to use on other things.

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