IM'ers Health Insurance?

As far as I know, the major medical insurance carriers provide individual/family coverage. Search in Google for "medical insurance brokers", and you'll find millions eager to give you a quote. Not being entirely facetious here, but there really are lots of providers and brokers for competitive shopping.

I at 13 (yes 13, don't treat me like a kid, I can make money too) don't need to worry about that, but I was wondering the same thing...I will need it one day...

Does your wife have coverage at her job? That's usually the best option.

Cobra is expensive but also an option for 18 months, I think.

The National Association for the Self-Employed also has a plan you might check into.

The main thing is that neither you nor anyone in your family has a pre-existing condition. That can make it tough to get any type of coverage through a private plan (as I well know).

Unfortunately there is no one answer because individual health insurance plans differ from state to state.

You can find an association that you can join and opt in for their coverage. Many local chambers of commerce offer group insurance.

Or you can call local insurance companies or agents who represent various companies and compare rates.

I've been paying for my own health insurance for several years now through Blue Cross of Florida. Our county negotiated a group deal for small business owners and then for individuals.

Good luck!
Merlyn

Unfortunately, you'll probably find out that it's very expensive. (I did)

There are options, such as going with a lower premium high-deductible plan. You will pay less monthly, but more out of pocket. Coverage only really kicks in for big expenses.

It's also important to consider what you'll actually need. For example, does your wife need maternity coverage? Do you have a lot of children? Some plans don't cover maternity, and some family plans are cheaper than plans for individuals.

Also, insurance varies wildly from state to state. I remember checking some out of state plans and seeing that my costs would near triple for less coverage.

Additionally, depending on your business structure there are tax considerations. There may be ways to save additional money by using various corporate structures to supply the coverage. Of course, talk to a small business accountant about that.

I ended up discussing it with a broker. At least in my state, brokers cannot charge more than the standard insurance rates, so you pay the same price no matter how you buy. It was helpful to ask someone that does this for a living the questions I had. I also talked my accountant about it.

Try Health Insurance - Find Affordable Health Insurance Plans and Buy Medical Coverage Online to get started on quotes, I believe that's the site I used to get an overview of the plans available.

I thought West Virginia just signed Single Payer Health insurance for your state. Too bad you don't live in Massachusetts. Your fully covered if you are unemployed. $3 co-pays, but you are 100% covered for basically everything - Health, Dentists & Eyes. There's also very low cost plans if you are working, but it's dependent on your salary level.
Also, I'd advise you to review the law that has been passed. You can keep the current insurance you have. You do not have to take Cobra. Many people are misinformed about your options. I would not advise taking on Cobra -- just because it's defaulted to be a high cost. However, review the options directly in your state. But universally, if you currently have insurance, even if you lose your job, you can still continue to have that insurance. You can always contact them directly and negotiate a rate.

Thank You LB, Darrin and Khut!

Seems like it is a topic that needs more discussion among fellow Work From Hom homeys! : )

Yes, the option to stay on with current United Healthcare is on the table as well as some sort of special arrangement with Cobra. Don't know a thing about something new here in WV that was signed.

Although my wife is not up to speed on what her company offers us, she thinks there is a $1,000 deductable and then 100% coverage after that. I can live with that, but we will have to take a closer look. Right now we pay $20 out of pocket for each doctor visit, when it was just $10 for several years.

Jeff

Jeff,

Since you asked, one of my 'products' that I promote and yes actually use for myself and family (wife+ 2 kiddos) is DentalPlans.com. Its the largest discount dental plan available and I'm sure your current dentist acceepts their rates (simple zip check). Its not insurance per se but if a dentist accepts your card (~$100/yr for the family) they'll give you a nice discounted rate even on root canals. Its actually ana amazing deal and I have converted many friends and family who use this rather than pay $15/paycheck at their 'real' jobs.

I'm not going to promote my sites (WF doesn't like that) but if you use the code ROOT10 at checkout at dentalplans.com you save 10% on any plan.

Hope that helps.

JR

Ok I am in the same boat here. I am a single Dad who will need health insurance in the coming months. Since I am divorced by state law I have to provide health insurance to my daughter even if her mom has coverage through her work.

I got one quote a few weeks ago but they gave me a insurance company that none of my doctors even knew about. So I guess the question he should have asked was for the warriors who are not using a spouses insurance plan....what they are paying each month and who they are using.

We all know its going to vary state to state. I have tried several different companies trying to find a good one but it seems that just going with the name brand companies out there is the best bet if you want a PPO style. Anyway I was curious what others are paying each month. I was hoping to keep it under 1200 for me and the Kido

Thanks

It varies state to state, I'm in texas and recently signed onto blue cross blue shield because it covers most preexisting conditions if you've had continuous coverage for the last 18 months and it was only $645 a month for a family of 3 with a 1k individual deductible and 3k family and 80/20 after that. It doesn't cover Maternity though so if you're planning on having a child I'd try to get on your spouses insurance. As the father of a 2 1/2 lb premie with hospital and doctors bill adding up to nearly 800k I'd highly recommend not going without insurance as it saved my a..

Looks like ours, a family of four, is going to be about $900 each month with a 1K deductable it seems.

United Health Care

Jeff

Health insurance varies from state to state so this would be hard for other Warriors to answer.

Unfortunately, purchasing insurance individually can be very expensive. I'd recommend taking advantage of the COBRA plan while you look around.

You should definitely take a closer look at the health insurance plan your wife's employer offers. Everyone bitches about their plans when they feel like they have to spend money. Make sure it really isn't worth purchasing before you write it off.

Also, are you a member of any type of organization? For example, as a massage therapist I can purchase health insurance at a discounted rate through one of the many massage organizations. You might find more affordable options through specific niche groups as well. The American Society of Journalists and Authors has a nationwide health plan for members, too.

Move to a civilised country with socialised medicine.

Simple

Professional organizations are a good resource for this. As has been mentioned, the self-employed association has an option. Also look at alumni groups.

I've seen A LOT of people try to get away without it, and many people do, but others get completely screwed when something comes along. Even a broken bone can be $10,000 or more.

So I'd say, for anybody on the fence, is to make it a priority. Don't want your career derailed because of something as small as a broken bone.

You should probably stay with your current health insurance plan.

I have Cigna healthcare in the USA and I pay only $80 per month for medical. They pay 100% after deductible which I set high at $10,000.

Check out Access Health Partners Get Full Health Insurance from Access Health Partners today! I use them, and they have insurance specific to entrepreneurs. Great service, not super expensive either. They were featured on PBS and everything. I highly recommend

I followed health insurance advice from a relative who's a Certified Public Accountant.

First, read this book cover-to-cover: "The New Health Insurance Solution: How to Get Cheaper, Better Coverage Without a Traditional Employer Plan" by Paul Zane Pilzer.

After she read this book, she took her whole family off of her husband's employer health plan at a major oil company, got a high-deductible health insurance plan and set up tax-sheltered HSAs (Health Savings Account).

I am currently doing the same. Got my BlueCross BlueShield high deductible health insurance plan, set up a Bank of America HSA, and will be paying my medical expenses with pre-tax dollars.

Also, I found this great online article that some may find interesting/helpful: How You Can Pull a GE (pay no taxes on profits).

Here's to paying less for health insurance and zero taxes!