The fall is often when many of you, like us, are eligible to change your healthcare plan for the following year, and this week's blog focuses on one option that could help you in your wealth-building process.
If you're like us, even though you work in healthcare, thinking about health plans is not very exciting. This is especially true if you're blessed to be healthy and never need to see a doctor. However, deciding which type of plan to choose can lead to significant benefits down the road as you work to build significant wealth.
While there are many options to explore when selecting a health plan, we would argue, a high deductible health plan (HDHP) combined with a health savings account (HSA) is one of the best options to consider. In this blog we'll break down how this plan works and the benefits to selecting such a plan.
What is an HDHP?
Healthcare.gov defines an HDHP as:
"A plan with a higher deductible than a traditional insurance plan. The monthly premium...
Whether or not you want to think about it or ignore it you are not going to be here at some point in the future. Sad, but true, we all pass away. As the old saying goes, “Nothing in life is guaranteed except death and taxes.” So, if we all know what’s coming, we might as well do our best to prepare for it. In this week’s post we’ll cover a topic most will find rather depressing and boring, but it’s also one of the most critical to being financially responsible – life insurance.
Teresa was a healthy 35-year-old family practice physician. She had just finished residency a few years earlier and was starting to build her practice in a new city. Her husband, Jesse, an engineer, had also started a new position shortly after their move. They were parents to three boys ranging in age from 4 to 10. They were a busy family on the go from the time they got up in the morning until...