Want to learn how to save money on health insurance? Are you struggling with outrageous health insurance costs and medical bills? This post is for you. I'm going to tell you how I am saving $500 per month on my family's health insurance and how you can, too. Skip down to the bottom of this post to learn how you can get paid $50 to switch!
This is the second post in my series about Spring Cleaning Your Finances. Click here to read the first post: The 30 Day Money Cure.
How to Save Money on Health Insurance: How I'm Saving $500 Per Month
Last year, I paid over $10,000 for health insurance ($850 per month). That's just for me and our two children (my husband pays an additional $900 for his health insurance; we are both self-employed, so we pay for our own insurance).
What's worse, my health insurance covers almost nothing. It doesn't cover our pediatrician and we pay $90 per person per visit to the doc in the box whenever we get sick.
We spent a fortune on health insurance and medical bills last year. Which is amazing, since we're very healthy and we almost never go to the doctor. We had over $1,000 in medical bills last year — just for doctor visits. (If you add the dental bills, that's another $5,000.)
When you're paying $10,000 a year for health insurance, and you still have to pay $1,000 per year for basic health care (literally just basic checkups), this is crazy! That's over $900 per month.
Especially because we are very healthy people. None of us have any health issues. It's not like one of my kids has special needs or like I have diabetes or some other disease. We're completely healthy. Why are we paying all this money for nothing?
I don't know about you, but I really hate paying so much money for so little. It's like we're just throwing money away. Money we could be saving and investing. Or using to pay down credit cards, or take a family vacation.
How I'm Saving Over $500 Per Month on Health Insurance
At the end of last year, I started calling around to see if I could switch to a cheaper health care plan. All the available plans were around the same, around $800-1,000 per month.
A friend of mine reached out on Facebook and told me about a program called Liberty Health Share. I checked into it and signed up.
We are now paying $399 a month for all 3 of us. That's a savings of $450 per month — which works out to $5,400 per year. We're actually going to be saving $500 a month because not only are we saving $450 per month on health insurance premiums, we also won't have to pay the $1,000 in medical bills. I told my husband we should use this money to take a family vacation to Hawaii.
Unlike my old health insurance plan, which only paid 80% (with a $12,000 deductible), Liberty Health Share pays 100% of the costs for our health care. So that means instead of paying $1,000 in medical bills this year, we can invest that money. We are going to use it to save up to buy our first rental property.
Instead of throwing away $6,000 per year, we're going to be investing the money in our future, and taking family vacations every year.
Liberty Health Share also has a program that helps you save on dental, chiropractic, and prescriptions, so we may be able to save even more.
Can Liberty Health Share Help You Save Money on Health Insurance?
Liberty Health Share is not for everyone. It's not a health insurance company per se, it's a health share plan. You have to be relatively healthy, not a drug or alcohol abuser, and you have to be a non-smoker. Also, some pre-existing conditions do not qualify — so you need to apply and see if you will get accepted.
I just told our nanny about Liberty Health Share. She's only 21 and can't afford health insurance. However, she doesn't have a choice — she's required to have it. If she doesn't pay for health insurance, the IRS will fine her $695 per year!
She signed up with Liberty Health Share and got approved within a few days. Instead of paying $150 per month through Covered California, she's now paying only $107 per month. So she's saving $43 per month — which is $513 per year.
She says she's going to use the extra money to pay for school.
Sign Up Now to Save Money on Health Insurance and I'll Give You $50
Sign up for Liberty Health Share and start saving money on health insurance and medical bills.
I have a special offer for you! If you sign up and tell them Cheeseslave (Ann Marie Michaels) sent you, I will get a $100 gift card. Here's how:
1. When you enroll at Liberty Health Share, let them know Cheeseslave (Ann Marie Michaels) referred you.
2. Then email me at annmarie @ cheeseslave dot com, and let me know you enrolled.
3. After you are a member for 60 days, I will get a gift card for $100. I'll send you half of that — via Paypal payment or a check — for $50.00. (When you email me to let me know you enrolled, please specify Paypal or check, and tell me your Paypal email address OR your mailing address to send the check.)
What are you waiting for? You've got nothing to lose and everything to gain. Sign up with Liberty Health Share today!
How will you use the money you save every month? Pay off credit card debt? Take a vacation? Invest in real estate or the stock market? Education for your kids or for yourself?
If you decide to sign up, please comment below and let me know what you're going to use the money for, including the $50 bonus!
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