Regular health insurance vs major medical

[Dd852]

DW 61, I'm 56 both (knock on wood) healthy - no major issues. We live a global life so looking at global health plans. Option 1: a very good all inclusive plan covering inpatient and outpatient for about $22k. No deductibles. No copay. Option 2: major medical. Inpatient plus full cancer only. No outpatient at all. Cost: $7,600. Deductible of 6,500 each. 100% paid after deductible.

I'm very tempted to go with the major medical - the annual savings privately invested should cover all non-covered outpatient visits and specialists I think.

But am I gambling too much? Thoughts?


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[MichaelB]

I'm very tempted to go with the major medical - the annual savings privately invested should cover all non-covered outpatient visits and specialists I think.

Unless you require specialized medical care but are at a location where it is not available or not qualified. The savings of $14K per year are substantial and might be great enough to self-insure if most of your travel is at or near major cities in developed areas. If you have significant travel off the beaten path, getting to where you can get health care might be difficult.

- Can you change later on, if you are diagnosed with a chronic condition?

- Perhaps the less expensive policy combined with a good travelers policy, such as World Nomads.