Deciding on your health insurance deductible

There is almost never a reason to pick an expensive or medium tier health insurance company. Lowest monthly premiums perform best-in-class when it comes to saving money and dealing with catastrophic injury.


Short answer, actuaries create the plans. If you have money (which FIRE people do), picking the cheapest month/highest deductible will always result in the best outcome. This is because you are "self insuring" and thus getting the advantage of the times you don't need care.

What other criteria have people used to decide on the deductible?

What can your plan support (i.e. if you FIRE and picking a lower plan results in guaranteed success over taking more risk, then you can do that at the cost of realizing you will have less total money in 90% of the cases). In general, pick the highest you can emotional and financially handle.

Anyone have regrets for the deductible they chose?

No because I can be un-emotional about the decision and understand the jobs actuaries do to create them. All of them have the same actuarial value, which means on average (50% of the time) you will be better in the lower monthly cost plan.

/r/ExpatFIRE Thread