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So to me, this kind of plan makes a lot of sense. Insurance should cover catastrophic expenses that can not be easily absorbed by a normal person/family. The kind of expenses you are talking about (a few hundred a month at most) should easily be handled by a single guy with a good income. You don't really need insurance to cover those costs. If you were to be in a major accident or contract a major disease, you would need insurance to cover those costs. It may not be as good as the plan you had before, but I think that will be true for everyone as employers, individuals and the nation seek to control health care costs. Still your plan protects you from significant financial risk from virtually any medical situation that would come your way -- which should be the basic function of insurance.
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