How Much Health Insurance Do I Need, if Any?

Fiology Lesson 33: Health Insurance

Determining how much health insurance you need is not an easy task.

There have been so many changes that make it difficult to calculate how much health insurance you need. Prior to the Affordable Care Act (ACA), plans and coverages was relatively easy to understand and, for the majority of people, more affordable. Remember the days when pretty much every employer offered one plan, and you either opted in or out?

Gone are the days of copay only plans, where your employer pulled out a set amount each paycheck and you paid one amount to your doctor and that was it. Now we need to become familiar with words like HMO, PPO, HSA, deductibles, out-of-pocket maximums, and health shares.

Learning enough about health insurance and making informed decisions when purchasing a policy can have a significant impact on your Financial Independence journey.

Determining how much health insurance you need, the best policy for your family, as well as being able to forecast out-of-pocket expenses can help you budget and allocate funds to make sure you don’t end up delaying Financial Independence needlessly.





  • GOHealth  blog at This site explains how to navigate health plans and provides tips on staying healthy.

Take Action:

  1. Review your current coverage and compare that to what is offered in your state marketplace. Compare the deductibles, copays, annual out-of-pocket maximums and finally, the cost per month. If you have an agent you trust, who handles your auto and home insurance, they may also have a health license and understand health coverages. Ensure you understand how much health insurance you need. Request them to review your comparisons and recommend the most cost effective plan for you and your family.
  2. Changing your plan could mean that you will have more money in your budget to put towards your Financial Independence goals, or increase your HSA contributions (if applicable). Do understand, however, the changes in actual coverage. A cheaper plan with inappropriate coverage can add significant risk to your Financial Independence.

Additional Resources:

  • The Marketplace  at You can determine what carriers and coverages are available in your state.


“It’s no coincidence that four of the six letters in health are ‘heal’.” – Ed Northstrum

David Baughier

My passion for helping others led to the curation Fiology. Help me spread the message of Financial Independence by clicking a colorful link above and sharing this post on your favorite social platform. Thank you!


  1. Chris Mamula on November 28, 2018 at 5:13 pm

    Thanks for including my article in this great list!

    I recently did more research on the use of ACA subsidies and using Health Care Sharing Ministries as an alternative to traditional medical insurance. Hope they can help readers as well.


    • Fiology on November 29, 2018 at 12:22 pm


      Absolutely! Your site is a wealth of valuable information. Thanks for including the links!

  2. Mr. Refiend on September 10, 2019 at 12:28 pm

    I am kinda a big fan of health insurance …for some reason. Great resources! Thanks.

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