This past winter I approached another hurdle: group health insurance. I had already been working on my own for almost a year. My wife worked twenty hours each week, less for income and more for the group health insurance benefits she received. We had two children, and that health insurance kept us from even discussing reducing my wife’s work commitment.
Then I changed tactics and started looking at health insurance as a strict money problem. Even though this money problem was like a Porsche lease is a money problem, it did help to bring a dollar amount into the decision making process. I drew up budgets that included higher monthly premium payments and the assumption of paying a huge deductible.
The large insurance numbers were very foreign to me. Enter yet another risk-tolerance test. Insuring ourselves meant that our potential to save money was threatened. If we paid all of our deductible, not much would be left over. On the bright side, if my family had a healthy year we’d be able to save more than in past years.
The non-monetary benefits out weighed the cost of insuring ourselves. We each saw our stress levels plummet once my wife began working eight hours per month. The cost of individual health insurance is a very real hurdle. I found the idea of losing group health insurance to be a false road block.