Why Don't Insurance Companies Reward Us for Being Healthy?

Insurance is always a gamble, a stake actually.

You are betting that you’ll eventually get ill or hurt. And your insurance company is betting that you’ll remain 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. State your insurance company that you desire to raise the deductible on your insurance policy as high as it will go. The deductible is the amount you have got to pay before the insurance finally kicks in.

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

But…

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

After a piece of being healthy, year-after-year, you’ll have got 10s of thousands of dollars sitting there.

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

And conjecture what? It’s your reward for staying healthy. You rewarded yourself for staying healthy, and simultaneously covered yourself just in lawsuit you did get ill along the way.

Happy retirement!