What do you do when your parents do not have insurance? The rising medical cost is unnerving and really gets to me. Are there any other ways that i can do to prepare? Should I pay the premium for the insurance?

I'm torn between letting my child go to school without any financial worries and giving them an opportunity to learn some life lessons about money.

If I am not setting aside a % of my savings for this, more can be funneled into my retirement. Any advice would help!