Announcement

Collapse
No announcement yet.

OT health insurance questions for Americans

Collapse
This topic is closed.
X
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • OT health insurance questions for Americans

    No, this has nothing to do with Obamacare.

    My questions is for those of you who are self employed and still young and relatively healthy, what's the best option for health insurance?

    After I finished school, but not having a job with a regular employer with a group plan, I've just been getting temporary health insurance. For similar deductibles, it seems cheaper than "regular" insurance, except that there is no drug coverage and no copay doctor visits. As far as I can tell, the only benefits with regular health insurance are if you plan to go and develop a "prior condition", or if you want to see a doctor occasionally.

    I started looking at an application for regular insurance, and they want to know about every ache and sniffle for the last 10 years, probably to try to deny coverage or raise rates. Assuming that I will get a "normal" job with employer coverage eventually, is there any reason to get the regular health insurance now, or should I stay with the temp health insurance?

    And for those of you who decided to be self employed, what did you do for insurance?

  • #2
    I'm 47. I got a pretty decent normal plan for my 20 yo son and myself. It's about $220 a month. My wife is apparently uninsurable due to an injury she acquired in your youth. The results of her injury have the same symptoms as a congenital defect and this is an auto-deny apparently. She's on COBRA for now. Right now the COBRA costs are reduced due to Executive Order I believe. Otherwise the cost of her COBRA would hurt us.

    This thread will likely spiral out of control, like health care costs.

    Comment


    • #3
      I am self employed. I was on Humana. About 200 a month for a just in case policy with prescription coverage. I recently got married, and it is cheaper to be on the wife's work insurance now. Better coverage too.

      Lenord

      Comment


      • #4
        I would suggest contacting an independent insurance agent. They usually know the various options and can save you money for the kind of coverage you want/need. I have insurance through work, but buy a policy for my son this way. We have had several different companies for him over the past years.
        Paul A.

        Make it fit.
        You can't win and there is a penalty for trying!

        Comment


        • #5
          I am watching this with interest, especially the rates for private insurance. We pay $100 per month each for basic medical insurance with $1500 deductible on prescriptions before co-pay kicks in at 80%. I pay at least $100 per month just on prescriptions.
          Free software for calculating bolt circles and similar: Click Here

          Comment


          • #6
            I am 43 and I retired from the Army two years ago. I have great health care coverage for the rest of my life along with a small but dependable pension. I am now self employed and very happy that I don't have to worry about paying for health insurance.

            Bob

            Comment


            • #7
              Originally posted by Tony Ennis
              I'm 47. I got a pretty decent normal plan for my 20 yo son and myself. It's about $220 a month. My wife is apparently uninsurable due to an injury she acquired in your youth. The results of her injury have the same symptoms as a congenital defect and this is an auto-deny apparently.
              Did'nt her mother ever tell her: "Don't play with that stick or you'll poke your eye out and get denied for medical insurance coverage for the rest of your life'
              ... Yea, Mine did'nt either.
              Play Brutal Nature, Black Moons free to play highly realistic voxel sandbox game.

              Comment


              • #8
                Mid 50's, family of 4- we have Group Health, which is a Co-Op up here in the Northwest- its $700 a month, with a $2500 deductible, NO prescription drug coverage whatsoever.
                So I pay $8400 a year base, plus another 2 or 3 grand in actual doctor visits, prescriptions, and so on.
                With my wife and I in our 50's, and an active teenager who manages to break something periodically, we almost always spend close to our deductible. Once or twice, we have gone over it, and been thankful- one serious broken arm can run 5 grand, these days, if there is the slightest bit of surgery involved.
                A colonoscopy is close to $3K.

                So, effectively, I pay ten grand a year, for 4 people.
                My wife and I are probably uninsurable if we ever quit and tried to find a cheaper alternative- "pre-existing conditions", ya know. So we are pretty much stuck- we have to pay $8400 a year for insurance, then pay for the actual health care we receive on top of that, and we cant risk quitting.

                The only good part of the situation is, even though I pay, myself, for all my prescriptions and doctor visits, my insurance negotiates "insurance prices" for my visits- so I get a bill for $150, marked down to $35, due to paying that $8400.
                If I walked in off the street, with no insurance, and paid cash for my service, like I do now, I would probably be paying about 3 times what I do now, according to the bills I get.

                Comment


                • #9
                  Originally posted by beanbag

                  And for those of you who decided to be self employed, what did you do for insurance?

                  When I was self employed, I formed a corporation and opened up a group plan under the corporation name. The cost were about $700 per month, but went up as children were born, to about $900 - $1000 per month. The premiums were deductible as a business expense, (note; "C" corp, not "S" corp or LLC) The coverage at the time was good, PPO instead of HMO and small copays and deductibles.
                  You could/can do it much cheaper, with less coverage or greater costs at the doctor's office, but you get wusch ya pay for.

                  Gary
                  Gary


                  Appearance is Everything...

                  Comment


                  • #10
                    Originally posted by Ries
                    If I walked in off the street, with no insurance, and paid cash for my service, like I do now, I would probably be paying about 3 times what I do now, according to the bills I get.

                    yes.. this part is often not well understood by those without insurance. The insurance company has contract rates with their preferred or "in network" providers and these are a fraction of "list." My relatively minor knee surgery was $7600... the insurance paid out at their rates - $2900... The rest was written off. Similar for my nose.


                    Young and healthy, with employer insurance prospects? Just get a policy with large deductible to cover unforeseen diseases and injury events. If you figure you can afford a major hit of say $5000 ( but not 50,000 or 500,000...) get a policy with a $5000 deducible. In your 20's, this will cost maybe $125 per month.

                    Comment


                    • #11
                      300 a month for one person under 30, 20% deductible 2,000 max, no rx coverage.

                      That is what I paid two years ago. Once you hit thirty, you can't afford it.

                      I had it basically for emergency room visits. Used it twice.

                      Now I'm on my wife's insurance with an Rx cost of close to 10 grand per year, paid for by the insurance. If I didn't have her health insurance, I'd be screwed, no two ways about it.

                      Comment


                      • #12
                        Originally posted by Ries
                        If I walked in off the street, with no insurance, and paid cash for my service, like I do now, I would probably be paying about 3 times what I do now, according to the bills I get.
                        Ries, I re-read that several times and still can't figure out what you meant, but ....... I have found that if I tell the Doctor up front that I will be paying cash because I have no insurance, and that money is tight and I don't want to spend any more than necessary, then the bill has always been reasonable, less than what it would have been if insurance were picking up the tab.

                        No insurance here. Nearest doctor is an all day trip, anyway. Just don't get seriously ill, if you do, your choice may be between death and bankruptcy.

                        Think quality of life, not quantity.

                        Comment


                        • #13
                          I can see that in a small or rural area, but.. try that when you need surgery at a hospital in a metropolitan area.... You just don't have the negotiation power of an insurance company...

                          Also with drugs. I only take one drug.. and have no drug coverage, but he insurance company has set the rate I have to pay, and it's about 1/2.

                          Comment


                          • #14
                            im 45 for my wife 2 kids $1200 month blue cross $18 copay no deductable and thats good for nys .

                            Comment


                            • #15
                              If it wasn't for my wife working at a job that supplies insurance I would go without. I never go to the doctor for anything, I don't believe in pills, I don't feel I need it. Maybe later on in life I will need it but until I hit 50 I won't worry about paying for some prick to go on vacation for selling nothing. Insurance is a rip off.
                              Andy

                              Comment

                              Working...
                              X