Why Dont Insurance Companies Reward Us for Being Healthy?

Insurance is always a gamble, a bet actually.

You are betting that you'll eventually get sick or hurt. And your insurance company is betting that you'll stay healthy.

If you stay healthy your whole life, but still pay into insurance, that's great for the insurance company. Actually, it's great for you too, because you got to be healthy for your whole life. But you still lost the bet.

So an insurance company is never going to reward you for being healthy. That's not the terms of the bet.

But here's a secret.

You can reward yourself.

Here's how. Open a Health Savings Account (HSA). Put as much money as you can into it. Tell your insurance company that you want to raise the deductible on your insurance policy as high as it will go. The deductible is the amount you have to pay before the insurance finally kicks in.

Now sit back and relax. You are completely covered for any healthcare crisis. You can use the HSA money for the small stuff and your insurance policy will kick in for the big stuff.

But?

If you don't get sick or hurt, the money will stay in the HSA. Then you'll put in the same amount next year, and it will sit there again. Earning interest, too.

After a while of being healthy, year-after-year, you'll have tens of thousands of dollars sitting there.

And when you retire, your HSA turns into an IRA ? individual retirement account. You can take the money out and live on it.

And guess what? It's your reward for staying healthy. You rewarded yourself for staying healthy, and simultaneously covered yourself just in case you did get sick along the way.

Happy retirement!

Daryl Kulak is the author of Health Insurance Off the Grid, a book that provides a simple, effective plan to reduce insurance costs for the self-employed, unemployed and underinsured. The book is available at the Website http://www.healthoffthegrid.com

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table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://abcnews.go.com/Business/PersonalFinance/story%3Fid%3D5966689%26page%3D1cid=1255233354ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNE1WVsyrgBzUDOIak4heKwLqEw-jQimg src=http://news.google.com/news?imgefp=f3EyX2qoJlgJimgurl=a.abcnews.com/images/Business/nm_safe_081006_mn.jpg width=80 height=60 alt= border=1brfont size=-2ABC News/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://seattletimes.nwsource.com/html/businesstechnology/2008256756_pffundins12.htmlcid=1255233354ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNGkcaksR5ONxIRtk1U9k1iQlYAS6gFidelity, Vanguard join money-fund binsurance/b plan/abrfont size=-1font color=#6f6f6fSeattle Times,nbsp;United Statesnbsp;-/font nobr21 hours ago/nobr/fontbrfont size=-1Fidelity Investments have joined the US Treasury#39;s emergency binsurance/b program for money-market mutual funds, pushing the participation rate to more than 95 b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.washingtonpost.com/wp-dyn/content/article/2008/10/11/AR2008101100174.html%3Fhpid%3Dtopnewscid=1255233354ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNHGKqH3Ndt2sjvN6tsCN4ViyosILAFunds Turn To Treasury Guaranty/a font size=-1 color=#6f6f6fnobrWashington Post/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.thestate.com/business/story/551687.htmlcid=1255233354ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNH0CDCINhs0zNRPc5JxgNogLy-lcAWorried about the economy?/a font size=-1 color=#6f6f6fnobrThe State/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.onwallstreet.com/asset/article/714411/money-market-mutual-funds-apply-treasurys.html%3Fpg%3Dcid=1255233354ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNGq1oN6oJ4IF-OGgMT-hNgp3SbpugMoney Market Mutual Funds Apply for Treasury#39;s bInsurance/b Program/a font size=-1 color=#6f6f6fnobrOn Wall Street/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://online.wsj.com/article/SB122360110812721677.html%3Fmod%3Dgooglenews_wsjcid=1255233354ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNGpTvbgBD12GqAwK0l4vJdnoKp9kgnobrWall Street Journal/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.dallasnews.com/sharedcontent/dws/bus/columnists/pyip/stories/DN-moneytalk_06bus.ART.State.Edition1.26b606e.htmlcid=1255233354ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNHJPaLBow3FQUW2Gt7GATY_q4Y_oQnobrDallas Morning News/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255233354hl=ennobrall 293 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.asahi.com/english/Herald-asahi/TKY200810130044.htmlcid=1255992539ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNHokOhzEQ8Vj0ZUP1pjGAGqd4TzNQEDITORIAL: Stock markets on ropes/abrfont size=-1font color=#6f6f6fAsahi Shimbun,nbsp;Japannbsp;-/font nobr3 hours ago/nobr/fontbrfont size=-1Adding to this unpleasant economic news, Yamato Life bInsurance/b Co., a midsize firm that invested heavily in REIT and other high-risk US financial b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.hindu.com/thehindu/holnus/000200810101676.htmcid=1255992539ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNGbDENKfiDOtHgzvEqGzz7MrbJ7qAJapan#39;s Yamato Life bInsurance/b files for bankruptcy/a font size=-1 color=#6f6f6fnobrHindu/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.telegraph.co.uk/news/worldnews/asia/japan/3179580/Japan-in-desperate-effort-to-halt-its-own-downward-economic-spiral.htmlcid=1255992539ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNHSi-3Xwclp6u8oHoZEnmFZmQS2fgJapan in desperate effort to halt its own downward economic spiral/a font size=-1 color=#6f6f6fnobrTelegraph.co.uk/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.thehindubusinessline.com/blnus/10101205.htmcid=1255992539ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNFtYRhiWg4_eD_KVye6dZJ7bXzljwJapanese binsurance/b co Yamoto collapses; files for bankruptcy/a font size=-1 color=#6f6f6fnobrHindu Business Line/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.ft.com/cms/s/179be274-96f3-11dd-8cc4-000077b07658.htmlcid=1255992539ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNFsACTTOMjWfa0OkkPSyyk_Pi0UDgnobrFinancial Times/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.yomiuri.co.jp/dy/business/20081011TDY01302.htmcid=1255992539ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNFEtkYfZQARWf0nn6Sn42498_zEWQnobrThe Daily Yomiuri/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255992539hl=ennobrall 410 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.insidebayarea.com/timesstar/localnews/ci_10705314cid=1257025458ei=ydXySNvDDoLg6AOzj5DLAwusg=AFQjCNFzIwniVXNJYZ9HSJlOObH2R9rRzwUnemployment binsurance/b fund headed for insolvency/abrfont size=-1font color=#6f6f6fAlameda Times-Star,nbsp;CAnbsp;-/font nobr5 hours ago/nobr/fontbrfont size=-1The Assembly bInsurance/b Committee and the Assembly Budget Subcommittee on State Administration held a joint hearing today to examine why we#39;re in this fix b.../b/font/div/font/td/tr/table
insurance - Google News


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