Last week my boss and I were talking about health care insurance. He said the reason our company offers a Health Reimbursement Account is because the the price offered to corporations for health insurance is so much higher than the price offered to individuals. Although I did not have specific knowledge on corporate rates, I am familiar with individual rates. I am amazed that the individual rates for a high deductable plan, $4,000/year, are so low compared to the rates reported in news stories for Verizon($20,000/year) and an Ohio lobbyist($30,000/year). The high rates paid at Verizon and others makes me wonder why such “smart” people can be so dumb.

Today an editorial in the Wall Street Journal, Another Health-Care Invention, reaffirms that point.

The Congressional Budget Office expects premiums for employer-sponsored coverage to cost about $5,000 for singles and $13,000 for families this year on average. "Premiums for policies purchased in the individual market," adds CBO, "are much lower””about one-third lower for single coverage and half that level for family policies."

The best health care deal for a frugal, healthy family is to combine a high deductable plan with a savings account for medical expenses.