Attn: Self Employed Warriors: How did you get your health insurance?

15 years ago

You might want to talk to an insurance salesperson (scary I know).

It depends on your state.

Many states will not offer health insurance to a company with employees below a certain number (often 10) so that may not be an option even worth worrying about. Either way you can talk to your accountant about deducting your health insurance costs and medical costs on your taxes.

Typically a decent family plan is going to be at least a few hundred per month. Make sure and consider things like maternity coverage and prescription coverage if that's important to you.

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petevamp

15 years ago

find a ups and work part time as either a preloader or package handler you cant beat free health insurance lol

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Lindsay Brynn

15 years ago

I agree that you should ask someone that knows more about it.

Often times I think people go for independent plans that are just almost catastrophic plans, just to have coverage for true emergencies.

With such high deductibles they will usually just pay for most doctors visits and things out of pocket, but that is the only way to keep things somewhat affordable. I think adding things like maternity coverage costs like $80+ per month alone.

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LB

15 years ago

Health Insurance, Medical Insurance, Individual Health Insurance Quotes

is a good place to start looking.

You really have to read the fine print though. A lot of plans look good but when you get down to it they exclude a lot of things.

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traces2757

15 years ago

Unfortunately, getting health insurance in the U.S. if you are self-employed can be disheartening at best. If you want anything close to what you can get through an employer you are going to pay a phenomenal amount. Sometimes you simply have to decide what you can cut out of your budget in order to afford decent health insurance; like the kind where you can actually see a doctor and not just the kind that partially covers hospitalization.

But don't get me started. Lack of affordable health care/health insurance for so many people in this country, including self-employed people who aren't wealthy, is a soap-box issue with me.

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MarkR 15 years ago

Peter,

How have you been?

If you need a very good insurance guy to talk to, I know just the right person. I met with him a month ago about my situation and he's great. Fellow Michigander also! He looks into COBRA, MIChild, BCBSM plans, etc. Very thorough.

PM me if interested.

Mark
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ecoverartist

15 years ago

^^ What Tracy said.

I'm self-employed with an LLC in what I swear must be the worst state for health insurance around - West Virginia. I used to be a member of NASE - national association for the self employed, which helps to get you some coverage as part of a group through a health insurance company, but I have no idea what the coverage is like now or what it costs as that was many years ago. Do a search for NASE and you might find out whether they offer it in your state.

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Peter Helps

15 years ago

Thanks. I'll check it out. They seem to provide insurance as part of their membership.

Peter

Originally Posted by ecoverartist

^^ What Tracy said.

I'm self-employed with an LLC in what I swear must be the worst state for health insurance around - West Virginia. I used to be a member of NASE - national association for the self employed, which helps to get you some coverage as part of a group through a health insurance company, but I have no idea what the coverage is like now or what it costs as that was many years ago. Do a search for NASE and you might find out whether they offer it in your state.

Thanks

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Shannon Herod

15 years ago

I use Blue cross Blue shield and have great coverage that is not that expensive. I think it is like 600 month w/ 1000 yearly deductible.

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traces2757 15 years ago

Originally Posted by Shannon Herod

I use Blue cross Blue shield and have great coverage that is not that expensive. I think it is like 600 month w/ 1000 yearly deductible.

Shannon, to you it's not that expensive. To someone else, however, it's out of reach.

That being said, I'm glad that you have the insurance for you and your family!
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Valorie 15 years ago

Originally Posted by Shannon Herod

I use Blue cross Blue shield and have great coverage that is not that expensive. I think it is like 600 month w/ 1000 yearly deductible.

Dude, that's my mortgage!

We are in Idaho, pay for our own coverage, have high deductibles, and our family of four pays just under $400 per month.

-Valorie
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Craig Fenton

15 years ago

Hi Peter:

No matter what get the information from somebody in the insurance industry in your state that doesn't have anything to gain by affording you the answers. You want impartial expertise.

Every state has different regulations for the type of insurance you can purchase if you are self-employed or have a company. The bad thing is that the word company is defined differently throughout the USA. For example in New Jersey (I don't believe this changed over the past few years) if you had a business and it brought in 1 million dollars profit per year, was in great standing paying taxes, etc if you were the only full-time employee you couldn't qualify for a business health plan. It had to be purchased as an individual policy. If you had a company where you and your neighbor were the only employees but both full time even if your profit was 10,000 for the year you both could qualify for business insurance.

Please please please find out about Michigan law. Another important factor is to see what the prescription coverage is because again using New Jersey as a guide there are some amazing policies if you fall under the large business umbrella but if you have individual coverage the best you end up with is about 50 percent prescription coverage for non-generic medication. Since a plethora of medicines are not available for generic the prescriptions often cost people as much per month as the policy.

Research and don't rush. Understand every word in the contract!

Good luck to you and family.

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Peter Helps

15 years ago

How and where do I research the health insurance in my state?

Thank you,

Peter

Originally Posted by Craig Fenton

Hi Peter:

No matter what get the information from somebody in the insurance industry in your state that doesn't have anything to gain be affording you the answers. You want impartial expertise.

Every state has different regulations for the type of insurance you can purchase if you are self-employed or have a company. The bad thing is that the word company is defined differently throughout the USA. For example in New Jersey (I don't believe this changed over the past few years) if you had a business and it brought in 1 million dollars profit per year, was in great standing paying taxes, etc if you were the only full-time employee you couldn't qualify for a business health plan. It had to be purchased as an individual policy. If you had a company where you and your neighbor were the only employees but both full time even if your profit was 10,000 for the year you both could qualify for business insurance.

Please please please find out about Michigan law. Another important factor is to see what the prescription coverage is because again using New Jersey as a guide there are some amazing policies if you fall under the large business umbrella but if you have individual coverage the best you end up with is about 50 percent prescription coverage for non-generic medication. Since a plethora of medicines are not available for generic the prescriptions often cost people as much per month as the policy.

Research and don't rush. Understand every word in the contract!

Good luck to you and family.

Thanks

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RB

15 years ago

Here is how it worked for me. I am an S-corp. I had a few more employees when I took a group insurance policy. The policy demanded I pay 50% of the premium for those employees who opted into the group. Now I am more lean and mean. I only have one employee and myself in the group. It only takes two to form a group. The group rate was better for me than if I got insurance on my own. The company pays for the 50% premium of the employee, 50% for me and my dependant. But who knows what the future will bring.

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James Liberty

15 years ago

If your family doesn't go to the doctor very much, look into getting a Health Savings Account (HSA). Basically, they offer low monthly payments and a very high deductible. (I think you can deduct the monthly payments on your taxes, too).

From what I understand, an HSA will cover your family for catastrophic health events (which is what health insurance is really for). Whenever someone needs to make the standard $80 trip to the physician, you would just pay it out of pocket.

From what I understand, this is the best way for a person to save money on health insurance... as long as they are not making frequent trips to the doctor's office.

Hope this helps,
James

Edit: Here's a great link with some more info: http://www.daveramsey.com/etc/cms/he...nce_5280.htmlc

Thanks
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Kevin Riley

15 years ago

Originally Posted by James Legacy

If your family doesn't go to the doctor very much, look into getting a Health Savings Account (HSA). Basically, they offer low monthly payments and a very high deductible. (I think you can deduct the monthly payments on your taxes, too).

From what I understand, an HSA will cover your family for catastrophic health events (which is what health insurance is really for). Whenever someone needs to make the standard $80 trip to the physician, you would just pay it out of pocket.

From what I understand, this is the best way for a person to save money on health insurance... as long as they are not making frequent trips to the doctor's office.

Hope this helps,
James

Edit: Here's a great link with some more info: Do I Really Need Health Insurance

This sounds like the sensible approach.

We never opted for health insurance as it peeves me to pay premiums so a bunch of hypochondriacs can go for their weekly visit to the doctor. I see people going in for every little sniffle. Ridiculous burden on the system.

We stay healthy with our wholesome eating (and my daily medication with Jameson Whiskey) and the last time I visited the doc was two years ago. Our total medical bills for the year are under $200. Instead, our insurance premiums are spent on higher quality food (organic, stoneground).

Thanks
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Peter Helps

15 years ago

Thanks Kevin. usually, I wouldn't worry too much about insurance but I have 3 kids, 6, 2.5 and 2.5 year olds. Two of them are boys and you don't want to take a chance on that. I was a little boy when I was a kid and there were fre trips to the emergency room

That's why I need insurance.

Peter

Originally Posted by Kevin Riley

This sounds like the sensible approach.

We never opted for health insurance as it peeves me to pay premiums so a bunch of hypochondriacs can go for their weekly visit to the doctor. I see people going in for every little sniffle. Ridiculous burden on the system.

We stay healthy with our wholesome eating (and my daily medication with Jameson Whiskey) and the last time I visited the doc was two years ago. Our total medical bills for the year are under $200. Instead, our insurance premiums are spent on higher quality food (organic, stoneground).

Thanks

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blalock61

15 years ago

Originally Posted by James Legacy

If your family doesn't go to the doctor very much, look into getting a Health Savings Account (HSA). Basically, they offer low monthly payments and a very high deductible. (I think you can deduct the monthly payments on your taxes, too).

From what I understand, an HSA will cover your family for catastrophic health events (which is what health insurance is really for). Whenever someone needs to make the standard $80 trip to the physician, you would just pay it out of pocket.

From what I understand, this is the best way for a person to save money on health insurance... as long as they are not making frequent trips to the doctor's office.

Hope this helps,
James

Edit: Here's a great link with some more info: Do I Really Need Health Insurance

Thanks for this post and link. The link contained info for a couple of things I have been thinking about.

Thanks

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Brian Tayler

15 years ago

Some groups come together to get insurance together to get better group rates. Trying to get insurance as an individual is not only expensive but removes a level of protection. A small known reality is that if you are not on a GROUP health insurance plan (for more than 60 days I believe... hence part of the reason why programs like 'COBRA' exist) then any NEW insurance company will not have to honor most (if not all) of any pre-existing conditions you may have. Think of issues you may have that you aren't even currently aware of... being completely uncovered.

I used ehealthinsurance.com which set me up with a BlueCross BlueShield HMO/PPO insurance offering. Now I have about 5 "employees" so it was easily to show I was a company and received group offerings. Note: Being a company... not everyone is even required to sign up for the insurance... so this doesn't hurt you. However if you are an individual possibly you could add your spouse and kids to the payroll paying minimum wage or whatever to help out? Or go the other route like I said before.... groups that get together for the sole task of getting group health insurance.

Whatever choice you go with... please please please... get GROUP health insurance... not individual. You could be putting your whole family at life long risk.

Thanks,
Brian

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Peter Helps

15 years ago

Brian,

What's the difference (in monthly payment) between individual insurance and group insurance? I could employ my wife and get a group insurance it if is worth it.

Thanks,

Peter

Originally Posted by Brian Tayler

Some groups come together to get insurance together to get better group rates. Trying to get insurance as an individual is not only expensive but removes a level of protection. A small known reality is that if you are not on a GROUP health insurance plan (for more than 60 days I believe... hence part of the reason why programs like 'COBRA' exist) then any NEW insurance company will not have to honor most (if not all) of any pre-existing conditions you may have. Think of issues you may have that you aren't even currently aware of... being completely uncovered.

I used ehealthinsurance.com which set me up with a BlueCross BlueShield HMO/PPO insurance offering. Now I have about 5 "employees" so it was easily to show I was a company and received group offerings. Note: Being a company... not everyone is even required to sign up for the insurance... so this doesn't hurt you. However if you are an individual possibly you could add your spouse and kids to the payroll paying minimum wage or whatever to help out? Or go the other route like I said before.... groups that get together for the sole task of getting group health insurance.

Whatever choice you go with... please please please... get GROUP health insurance... not individual. You could be putting your whole family at life long risk.

Thanks,
Brian

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Brian Tayler

15 years ago

Originally Posted by pk80356

Brian,

What's the difference (in monthly payment) between individual insurance and group insurance? I could employ my wife and get a group insurance it if is worth it.

Thanks,

Peter

Peter,
I honestly couldn't tell you. But I can tell you it depends on the number of employees, average age of the employees, and general health information.

With my research... I really wasn't willing to go through with individual insurance.

Let me give you a for instance. I have a 15 month old daughter. She could have a rare birth defect known as Meckel's diverticulum. This defect can go undetected for decades. It can ultimately cause severe pain, GI bleeding, and possibly death. But if I didn't have her insured in a group plan for just a couple years of her life when she was young to save myself some money... she may NEVER be able to get coverage by insurance for treatment of this defect since it existed while she wasn't in a group policy (thus a pre-existing condition). Now obviously you can fight this (and most likely win). But the issues get bigger when cancer or KNOWN current medical issues exist. Frankly I don't think it's worth the headache or worry of knowing if I'm fully covered or not. My life's motto has always been "it's just money." Not worth trading your own piece of mind, and more so, your family's health for a couple dollars.

The best person to answer your questions regarding your options are the qualified health insurance individuals. The people at the site I recommended were very helpful.

Thanks,
Brian

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Aliaksandr

15 years ago

Very important topic that I have just started researching. So I will take the advice of everyone here and keep researching hoping I find the right plan for me.

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new2ebiz

15 years ago

Hi Peter:

Do you belong to any associations or the local chamber, etc., sometimes they have group deals. This will vary greatly.
The HSA is a great choice but fairly new you will need to do your research there. The program at my husband's work site is terrible.

Some people I know to get what I think is called catastrophic insurance.

Also see if there are any doctors where you live who don't take insurance. I forgot what it is called but there is a small movement of small doctors who wanted to get rid of the costs to them for the paper work, time, and extra staff required by taking insurance so they chose not to. I've heard you can pay very little for a visit because their costs or lower.

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jasondinner

15 years ago

I formed a corporation and put me and my wife on payroll
because my insurance broker said I had to have 2 employees
on my company's payroll to qualify.

I live in NY and pay $1394 per month for Empire Blue Cross Blue Shield
for my family.

Hope this helps

Jason

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bwall

15 years ago

A HSA is agreat way to go.
You buy major medical coverage with a high deductible - 2500 to 10,000
then you set up a HSA account with your bank (most major banks offer HSA accounts) or through the insurance company.
Your money accumulates tax free in the HSA account and you can use it to pay for most
medical expenses. If you have a major medical problem the medical coverage kicks in once your deductible has been met.
The great thing is that if you don't use the money in your HSA account it continues to accumulate tax free. You can also write off the premiums you pay as a tax deduction.

Most health insurance companies offer HSAs. You can typically purchase the policy online so you don't have to deal with an insurance agent.

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joshril

15 years ago

I agree with most of everything you have said except for buying online and not dealing with insurance agents. You SHOULD seek the advice of a qualified independent insurance agent. The premium is exactly the same whether you use an agent or not. It's not like buying a car...

An independent agent works with most of the insurance carriers in your state, and can advise on the best plan based on your budget, your pre-existing health conditions, and the type of coverage you need.

Most states have literally thousands of combinations of plans available and trying to wade through them on your own is a good way to end up with a policy that excludes procedures that you would like to have covered.

Getting back to what you said about HSA-compatible health plans... they are the way to go if you actually contribute to the health savings account. A family can contribute up to $5,950 ($6,150 in 2010) to the health savings account for 2009. This is tax-deductible and the interest is not taxed. As long as the money is used for qualified medical expenses (health insurance deductibles, copays, office visits, RX, dental, vision, etc.) the money can be withdrawn tax-free.

As mentioned above, the money in the HSA rolls over from year-to-year if unused. Unfortunately, you are required to be enrolled in a HDHP (high deductible health plan) that is HSA-compatible to benefit from the tax-advantaged status of the health savings account.

The big idea behind these plans is your health insurance premiums will be much lower because you are requiring the insurance company to assume less risk (higher deductible). For a healthy individual/family that actually contributes to the plan, they make a lot of sense. Typically the rate of annual increase in premium is going to be lower than a traditional copay plan.

For those with health issues, in most states, qualification is still an issue. People in that situation may look at the guaranteed issue or small group plans available in their state.

There are a lot of variables and a qualified independent agent can certainly help you sort through the muck.

Originally Posted by bwall

A HSA is agreat way to go.
You buy major medical coverage with a high deductible - 2500 to 10,000
then you set up a HSA account with your bank (most major banks offer HSA accounts) or through the insurance company.
Your money accumulates tax free in the HSA account and you can use it to pay for most
medical expenses. If you have a major medical problem the medical coverage kicks in once your deductible has been met.
The great thing is that if you don't use the money in your HSA account it continues to accumulate tax free. You can also write off the premiums you pay as a tax deduction.

Most health insurance companies offer HSAs. You can typically purchase the policy online so you don't have to deal with an insurance agent.

Thanks

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LB

15 years ago

This sounds like the sensible approach.

We never opted for health insurance as it peeves me to pay premiums so a bunch of hypochondriacs can go for their weekly visit to the doctor. I see people going in for every little sniffle. Ridiculous burden on the system.

We stay healthy with our wholesome eating (and my daily medication with Jameson Whiskey) and the last time I visited the doc was two years ago. Our total medical bills for the year are under $200. Instead, our insurance premiums are spent on higher quality food (organic, stoneground).

I completely appreciate this approach and my family also eats a healthy organic diet and generally speaking, avoid doctors as much as possible.

However, as they say, shit happens.

My sister in law was diagnosed out of the blue with a brain tumor that required immediately removal...cost about a quarter of a million dollars.

My wife appears to have a rare autoimmune disorder, the blood work alone has been nearly ten grand.

A few years back I was standing next to a table saw when a piece of wood kicked off it shattering my hand in multiple places. Obviously, insurance was a good thing.

All of these things can be financial "life enders" without insurance. Yes, people run to the doctor to get their pill handouts and for colds, but when something really bad and unexpected happens, insurance is great.

If the cost is prohibitive then "catastrophic" insurance might be the way to go. Basically you'll pay for most everything yourself up to a few thousand but coverage can kick in anywhere from 5-20k.

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EdKirby

15 years ago

Hi Peter,

I live in RI and I have an S-Corp and 1 employee, me. I got my insurance through the Chamber of Commerce Group. Yes, you have to become a member. Here it's around $285 dollars per annum.

My monthly premiums for a family plan from BCBS is about $1100.00 per month. I have kids and just recently I've had to have some diagnostic work on my wrist, an MRI. So, shit does happen and it would have cost a pretty penny. At least I'm getting something back on those outrageous fracking premiums.

I'm none too happy with the premiums if you didn't guess by my statement above and coupled with the fact that every year it seems that I keep getting less and less coverage on scripts and services etc. so I'll be looking at United and Tufts.

Be that as it may take a look at your local chamber commerce as they can usually get a pretty good group rate for companies that even have only 1 employee. They'll may handle it directly or put you in touch with their broker where they'll compare companies and plans.

Good Luck!

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TheRichLife 15 years ago

I have a high deductible plan through Blue Cross, and a HSA. Since I have a wife and 4 kids to cover (in addition to myself) it's still not cheap, but it saves me a lot of money over the cost of a PPO or HMO plan.
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jasondinner

15 years ago

Originally Posted by EdKirby

My monthly premiums for a family plan from BCBS is about $1100.00 per month. I have kids and just recently I've had to have some diagnostic work on my wrist, an MRI. So, shit does happen and it would have cost a pretty penny. At least I'm getting something back on those outrageous fracking premiums.

Yeah, my BCBS is the same way but $300 more.

They covered my entire Knee surgery including anesthesia and the first 3 follow ups to the doctor.

The anesthesia was $3500 (just to put me under) and the surgery was easily $10-20K depending on what else they found when they went in to construct my new ACL.

They also gave me 30 or 40 percosets 3 times for $10 a bottle

LOL

But if generic prescriptions are not available, I end up paying $50 for prenatal vitamins or diaper rash cream for my daughter or whatever.

It is what it is. I'm sure it will be better than the socialist health care that this country's middle to lower class will be stuck with.

It is what it is.

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LilBlackDress

15 years ago

Have you tried GoldenRule? They have group coverage as they require you to become a member of FACT(which is about $3.00). From my comparisons between them and other insurance companies, you get more for your money.
But they are pretty strict. So any pre-existing condition is pretty much excluded. Even if you have tests done and all is negative they may exclude.
Worth checking out though.

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dadoc 15 years ago

Ok if you live in Arizona like I do there is a great option and this is probably available in other states too.

The Arizona Small business association offers health insurance through CIGNA for a flat rate based on age only. Pre-existing conditions do not matter and on the application they don't ask anything regarding that at all. The price ranges from $250 to $600 per month per person depending on age.

for someone who cannot qualify for health insurance due to multiple comorbid conditions this is a gem of a deal. I am sure other states have something similar as well.
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gxd5

15 years ago

I have blue cross. Shannon's numbers are dead on.

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timpears

15 years ago

I keep seeing a commercial for health insurance on TV. Don't know anything other than what they say in the commercial, but that is $6 a day for insurance and $10 a day for the family. Might be worth checking them out. Lifelock is the name of the company. You will have to look them up, or watch the tv for their commercial.

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Peter Helps

15 years ago

Isn't Lifelock for identity protection and not health insurance? I looked at their site and can't find anything in regards to health insurance.

Peter

Originally Posted by timpears

I keep seeing a commercial for health insurance on TV. Don't know anything other than what they say in the commercial, but that is $6 a day for insurance and $10 a day for the family. Might be worth checking them out. Lifelock is the name of the company. You will have to look them up, or watch the tv for their commercial.

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mike116

15 years ago

There is much talk about group health insurance. Has there ever been a movement to "pool together" the IM'ers for purposes such as this?

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Peter Helps

15 years ago

Great point Mike. I was thinking about it as well. For instance, wouldn't it possible to get a group insurance for the warrior forum? I may be totally wrong though.

Peter

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traces2757

15 years ago

Okay, I was wondering: how exactly do groups get lower insurance rates? When you work for a company that offers health insurance as a benefit, the company usually pays part (or all) of your insurance coverage, which is why you didn't have to sell your firstborn child and mortgage your home to the hilt to pay for your insurance. But if you're just in a group, how does that get you lower rates?

Perhaps someone here knows.

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MikeGriffith

15 years ago

Have you thought about discount health or dental plans, or are they all a scam?

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SullyUI

15 years ago

One option if you're on a budget is emergency health insurance. It's usually no more than 200-300 for your family and it will cover any major hospitalizations so that you don't go bankrupt if you get seriously ill.

Otherwise you can pay your family doctor out of pocket for your minor illnesses and visits throughout the year. It usually no more than 150 per visit, and you should let your doc know that you'll be paying out of pocket so that he informs you if there are any additional costs for tests, etc.

Most people don't know about the emergency insurance option, so I'm putting it out there for you.

Best -

Sully

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Kim Standerline

15 years ago

Criky all this talk about health insurance sure makes me appreciate the NHS as creaky as it is

Kim

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JonesersRX7

15 years ago

Just a couple of quick tips before I go take my girls swimming...

For those that require insurance use a broker - my Father-N-Law has his own insurance brokerage and can shop the best rates. Make sure if you live in a state where there are broker fees watch out.

Also look into HSA's (Health Savings Accounts) - I know a lot of you do some type of investing and this is a GREAT way to avoid ANY taxes on that income.

/soapbox

And I just love when people used to say "your are quitting your job? what about BENEFITS!" oh nooooos... With the way companies are cutting benefits and the co-pays are going up please don't ever let this stop you from going full time in your own business.

/soapbox

- Have a great Thursday!

Jonesers

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amotivatedmom

15 years ago

Jason: I live in NY also and that seems very expensive for insurance/'I live in NY and pay $1394 per month for Empire Blue Cross Blue Shield for my family.' WOW

I agree with Kevin, eat right, exercise and rest...of course if you have children as I do every once in awhile we have to go to our local Medicus Center @ $84 a pop once or twice a year we haven't needed insurance Thank God. However I will say the peace of mind knowing you have it can make sleeping more peaceful though.

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Chuck Staff

15 years ago

Peter:

Since you're researching, do not neglect to talk to a good tax advisor who specializes in self-employed / home-based businesses.

Not sure how it applies to an LLC but a "self-insured medical reimbursement plan" can be a life-saver. YOU don't qualify (as a self-employed person) but you can use such a plan to cover your employees -- even if you have only one employee. If you offer such a plan, you must offer it to all your employees. If you need an employee, I'd suggest hiring your spouse. You CAN hire your spouse, at minimum wage, and reimburse her for all medical related expenses - premiums, braces, dental, travel to and from the doctor, chiropratic. If she gets a great, but expensive, health plan for her and her family (um... err... that would include you!), you can reimburse her for all those expense with pre-tax dollars (ie: a business expense).

I'm not an attorney and this isn't legal advice. Make sure you find a tax guy who knows about small/home-based business tax law - the vast majority of tax people (including CPA's) don't.

Want a quick overview? Get a copy of Sandy Botkin's book, "Lower Your Taxes, Big Time". (Sandy was an IRS Attorney who taught all the other Atorneys at the IRS.) You can find the book for under $10 on eBay and it'll help you to know what questions to ask the tax guy.

Go forth and do great things!

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Cosmo Demopoulos

15 years ago

I am a group of 1, just me, not incorporated, just a sole proprietor, and in least in New Hampshire qualify for group plans.
My u nderstanding is that a group plan must accept you, but under an indiv plan the insurance company can say, sorry, we won't accept you

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stacyfox 15 years ago

According to Time, the average company spends $14,000 a year on a family's health insurance. So, $1000 to $1500 isn't out of the ballpark for individual family health insurance. That's the cost of doing health business and a factor (though not the defining one) in branching out.
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joshril

15 years ago

Originally Posted by Ted Demopoulos

I am a group of 1, just me, not incorporated, just a sole proprietor, and in least in New Hampshire qualify for group plans.
My u nderstanding is that a group plan must accept you, but under an indiv plan the insurance company can say, sorry, we won't accept you

Each state has their own guidelines on group size. In TX, a group consists of at least 2 employees, but some states have different minimums. Group coverage cannot be denied based on health, but the premium can be rated significantly.

Some states offer what is called a Risk Pool or Health Pool. Typically, this is guaranteed issue (doesn't matter how sick you are), but the rates can be high depending on age, tobacco user status, etc.

Because insurance is regulated at the state level, I will again point out that it's critical to work with a licensed, independent agent in your state to go over all of the options that might be available.

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Chase Beach 15 years ago

Hey Pete,

First of all, I congratulate you on your ambition, motivation and Spirit for self employment.

Secondly, Insurance is an option in our great country of freedoms. I have been with out it and with my chronic issues it cost much more to Not have it. But having insurance has saved me. Financially and emotionally. Cost is an average mind set for me and the premiums stated here for 1300 to 1500 is right on.

Your health... what is the price? Your families health? It is priceless.

I think the Warriors have given the best options. BCSC in Michigan gave me superior care. United Health care in NC was great too. In SC, the health care is par or average for the same cost, read up on your States Laws. Fight for your Rights.(keep health care private)

Agents for insurance, could help your cost monthly and continuing your business upward and growing will put you ahead.

Great Post and thank you.

Chase
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Shannon Tani

15 years ago

The resurfacing of this thread prompted me to start looking for some health insurance. I currently have coverage through my husband's company, but we're looking to move and both freelance in a year or so.

I came across this place that offers group insurance plans for freelancers:

Freelancers Union :: Platform for an Independent Workforce

Love,
Shannon

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flamingleaf8

15 years ago

i suggest you talk to someone who has one. and research on the available companies, and compare their rates, and coverage, before you take a plunge.
i have a current insurance from my company, but they offer the option to stay with them even if you are not connected with the company anymore.

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NicoleH

15 years ago

One suggestion I can offer is to price out individual policies for you, your wife and your children. Often times it is less expensive to insure each family member individually w/their own policy rather than a "family policy". As a man you will never need maternity coverage and your children will not either. As somebody said, maternity coverage can add an additional 80.00 (+/-) per month.

I live in NY and found this to be true with Blue Cross & Blue Shield.

Thankfully I am covered under my soon to be exH's excellent health insurance for the next 3 years but I did check around just in case (and I have a pre existing condition).

The Internet is a good place to start but talking to somebody is the best way to go. IMO this is the sort of purchase where price matching and some negotiations might very well be possible. People negotiate major purchases all the time (homes, cars) and health insurance certainly qualifies as a major purchase. Especially if you purchase or have existing multiple types of policies through the same agent or broker (auto, home, life). If you are giving all your insurance business to one company or broker a discount should be part of the package.

If you belong to an alumni group you may consider making a contact. I have never really investigated it but I get mailers all the time offering health, auto and life insurance through my alumni association.

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joshril

15 years ago

While buying individual policies in many cases will be cheaper, you'll lose the advantage of a family deductible. Let's say you have a health plan with a $1,000 deductible. Well, the family deductible will be either $2,000 or $3,000. So obviously, if you have a family of 4 or more, there is a great advantage here. Many plans also have a feature that requires only 1 deductible be met if the family were involved in a car accident or something like that.

As far as discounting, most states have rebating laws. This means that agents cannot give you any type of discount or anything of value to induce the sale of health insurance. The rates for the insurance plans are filed by the insurance companies with the Department of Insurance in each state. These rates are set in stone. The only thing that change the rates is your health classification.

Of course, check with an agent in your area as all states have different laws and regulations concerning insurance.

Originally Posted by NicoleH

One suggestion I can offer is to price out individual policies for you, your wife and your children. Often times it is less expensive to insure each family member individually w/their own policy rather than a "family policy". As a man you will never need maternity coverage and your children will not either. As somebody said, maternity coverage can add an additional 80.00 (+/-) per month.

I live in NY and found this to be true with Blue Cross & Blue Shield.

Thankfully I am covered under my soon to be exH's excellent health insurance for the next 3 years but I did check around just in case (and I have a pre existing condition).

The Internet is a good place to start but talking to somebody is the best way to go. IMO this is the sort of purchase where price matching and some negotiations might very well be possible. People negotiate major purchases all the time (homes, cars) and health insurance certainly qualifies as a major purchase. Especially if you purchase or have existing multiple types of policies through the same agent or broker (auto, home, life). If you are giving all your insurance business to one company or broker a discount should be part of the package.

If you belong to an alumni group you may consider making a contact. I have never really investigated it but I get mailers all the time offering health, auto and life insurance through my alumni association.

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NicoleH

15 years ago

Originally Posted by joshril

While buying individual policies in many cases will be cheaper, you'll lose the advantage of a family deductible. Let's say you have a health plan with a $1,000 deductible. Well, the family deductible will be either $2,000 or $3,000. So obviously, if you have a family of 4 or more, there is a great advantage here. Many plans also have a feature that requires only 1 deductible be met if the family were involved in a car accident or something like that.

As far as discounting, most states have rebating laws. This means that agents cannot give you any type of discount or anything of value to induce the sale of health insurance. The rates for the insurance plans are filed by the insurance companies with the Department of Insurance in each state. These rates are set in stone. The only thing that change the rates is your health classification.

Of course, check with an agent in your area as all states have different laws and regulations concerning insurance.

Yes, I understand the deductible issue. When I was married and my H considered changing jobs we had priced out the difference between individual policies vs. "family plans". I suppose I didnt put two and two together that the OP has FOUR people to insure, not just two. In our case it was okay for him to have a very high decutable because he was healthy and usually only went to the dr. once per year for a physical. I would have needed a much lower deductible due to my health condition as I see a specialist and need labs every 6 weeks. I guess it all evened out in the end for our situation.

I simply was making a few suggestions. For example, I know my sister and bil get a discount on their insurance as they have their home and two vehicles insured with the same company. Its not an outstanding discount, I think around 5% but it does add up. I suppose my line of thought was if a discount was not offered on the health insurance, perhaps a discount could be offered on other policies (home, auto) as that is not uncommon when all your insurance is bundled with one agency or broker. I dont know all the rules and regulations per state. Just brainstorming!

I know in NY every two years you can take a defensive driving course that costs around 20.00 and a few hours of your time. My H's company actually offers the courses at a discount so he only paid 10.00. In return for taking the course you save a certain percent on your auto insurance premiums for two years. IIRC when my H took the course it knocked about 130.00 per year off our auto policy (we only had one car). If both spouses took the course (and each spouse has their own vehicle) both are eligible for the discount. I guess if you look at it that way (using my numbers as an example) that frees up 260.00 per year to apply to health insurance. Its not a huge amount but its sort of "free money" for a few hours of your time once every two years. It wont make a huge dent but with the high cost of health insurance anything helps!

Good luck finding a plan!

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joshril

15 years ago

Originally Posted by NicoleH

Yes, I understand the deductible issue. When I was married and my H considered changing jobs we had priced out the difference between individual policies vs. "family plans".

Agreed. With a husband and wife it can definitely be cheaper to go with separate plans.

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TyBrown

15 years ago

I actually get a pretty good health insurance for about $400 a month for my whole family. We get it through the same insurance provider that a lot of employees at various businesses around the state get theirs.

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Jesus Perez

15 years ago

Check this out:

Health Insurance for Freelancers – FreelanceSwitch

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David Hooper

15 years ago

Try professional organizations or an alumni association. They may have something that will work for you.

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LilBlackDress

15 years ago

I recently had to find insurance for myself and one of my daughters when the insurance available from my husbands company shot through the roof price wise with little to offer in benefits.

I went to einsurance and got quotes from all the different providers.

After evaluating them all, I found GoldenRule to be the most cost effective with good coverage. It is a group policy. You are required to join FACT for a few dollars a year. One caveat. The do put a rider on almost any pre-exisiting condition you have and do not cover it. So if you go in with good health you are good to go but if you have any issues at all assume it will not be covered.

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joshril

15 years ago

GoldenRule does offer some great plans and the pricing is good depending on your geographic location. Ehealthinsurance or esurance or any of those online sites offer the exact same rates an insurance agent offers. Using an agent, you could tell the agent what is important to you and what your health background is. Each company treats health conditions differently.

Take asthma for example. One company will be a decline, one will place an exclusion rider on it (if you're in a state that allows riders), and another will offer a preferred rate. Shopping on your own online makes it hard to know how each company will underwrite. An agent is free and can assist with this.

The FACT membership you are referring to is an association. You bought an association plan, not a group plan. Two very different things. Your coverage is still medically underwritten and your application can be declined and conditions ridered (if in a state that allows for this) with an individual health plan.

Not sure what state you are in, but GoldenRule typically requires you to meet your deductible before it will pay for x-rays, ER, or labs. Even if you bought a copay plan, many individual plans do not cover labs, x-rays, or ER without meeting the policy deductible. This is something that many people assume is covered by a copay, but when looking at a full outline of coverage and reading the fine print, you will find many things most policies don't pay for. Another reason why involving an agent is crucial and the cost is absolutely nothing...

Originally Posted by LilBlackDress

I recently had to find insurance for myself and one of my daughters when the insurance available from my husbands company shot through the roof price wise with little to offer in benefits.

I went to einsurance and got quotes from all the different providers.

After evaluating them all, I found GoldenRule to be the most cost effective with good coverage. It is a group policy. You are required to join FACT for a few dollars a year. One caveat. The do put a rider on almost any pre-exisiting condition you have and do not cover it. So if you go in with good health you are good to go but if you have any issues at all assume it will not be covered.

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Attn: Self Employed Warriors: How did you get your health insurance?

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