[TheForge] Marginal Blacksmithing Question OT

[Jim Pigott]

The concept of taking the savings and banking it is the same concept of the
Health Savings Account www.hsainsider.com . The main difference is you
determine the amount of risk you can accept, any expenses over that are
insured. Also, the ability to fund the HSA account with "tax-deferred" money
gives you, at least, a 25% faster start on the savings.
This is a much safer bet than starting the savings account, or mutual fund,
and having a major expense in the first year or so, before there is enough
money to cover the cost. Cancer treatments can run many thousands of dollars
each treatment and be administered on a weekly basis. Not many mutual fund
accounts can handle these costs. As your savings accumulate you increase
your responsibility accordingly and buy less insurance. In a perfect world
you could eventually insure yourself safely, but that is in a perfect world.
Jim

-----Original Message-----
From: theforge-bounces at mailman.qth.net
[mailto:theforge-bounces at mailman.qth.net] OnBehalf Of Darrell
Sent: Saturday, January 08, 2005 2:19 PM
To: artgawk at thegrid.net; Sponsored by ABANA
Subject: Re: [TheForge] Marginal Blacksmithing Question

That is what the "Catastrophic" part is for.
Also, don't spend any of the savings until your out of pocket
exceeds what the deductible would have been.
Darrell

http://www.machinemaster.com
----- Original Message ----- 
From: "Peter Fels And Phoebe Palmer" <artgawk at thegrid.net>
To: "Sponsored by ABANA" <theforge at mailman.qth.net>
Sent: Thursday, January 06, 2005 9:24 PM
Subject: Re: [TheForge] Marginal Blacksmithing Question


> Having done a cancer dance once already, let me assure you that the
> amount you could save up at $500/mo won't amount to diddle when you are
> in serious medical trouble.
>
> Darrell wrote:
>
> >Phil,
> >If you already have a need for health insurance (pre-existing conditions)
it
> >costs more than it is worth.
> >If you are healthy, look at catastrophic health insurance and put the
> >$500.00 to $700.00 a month that health insurance would cost in savings
and
> >as soon as you have enough, put it in mutual funds. Then you will have it
> >earning an income for you instead of giving it to an insurance company
that
> >you will have to fight with when you need it.
> >Darrell
> >
> >http://www.machinemaster.com
> >----- Original Message ----- 
> >From: "Phil" <mobjak at yahoo.com>
> >To: "Sponsored by ABANA" <theforge at mailman.qth.net>
> >Sent: Thursday, January 06, 2005 11:57 AM
> >Subject: Re: [TheForge] Marginal Blacksmithing Question
> >
> >
> >
> >
> >>--- Ries Niemi <rniemi at fidalgo.net> wrote:
> >>
> >>
> >>>Health insurance costs can vary wildly by location,
> >>>age, and
> >>>pre-existing conditions.
> >>>
> >>>
> >><snip>
> >>
> >>What is the impact of pre-existing conditions on the
> >>cost of insurance?
> >>
> >>Thanks
> >>
> >>Phil
> >>
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