Paying school loans instead of health insurance??

[dante23]

Just a tought, I can pay 6-7 k more per year toward my student loans instead of it going to health insurance. I only visit the dr a few times a year, the wife only once. seems like a waste of money. Off to work, later. 

[gypsymama]

Are you talking about not paying the premiums to have the health insurance or money going to a HSA or other type of account? I wouldn't suggest cancelling your health insurance since you never know what will happen plus now it's non-optional thanks to the amazing president that got elected. If you don't have health insurance you'll end up with fines and all from the government now so I wouldn't suggest cancelling.

[SCF]

Can you gaurentee that you and your wife will be able to afford the out-of-pocket medical expenses related to the diagnosis of a major illness or a major injury?

If not, I would think long and hard before you cancel your health insurance.  As relatively healthy young people, maybe it would make sense to increase your deductible or dial back your coverage to a major medical plan, I would visit with whoever currently provides your health insurance now about other options and also look at the new Marketplace for options.

In the end, the penalties from the new healthcare law or the savings from paying your student loans down more quickly will be very minor compared to the cost if you suffer a serious injury or illness and have no coverage.

[dante23]

Your right, Health is not garanteed. Plus my wife wouldnt allow me to do it.