FINANCIAL INDEPENDENCE
Turning 30 - Private health insurance or self-insuring?
I'm turning 30 soon and thinking about private health insurance but struggling to justify the cost. I know there’s a 2% loading each year if you delay getting it and public wait times can be long, but I’m considering self-insuring instead. My idea is to keep a separate savings account for medical expenses, adding to it regularly or topping it up after using it for treatments. Has anyone tried this? How much would you recommend saving to start, and how should I plan contributions? Thanks!
Mason King.
15 January 2025
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