Any suggestions for the self-employed/insured...

[BERIGAN]

besides getting a job with a big corporation?

Long story short(er) I messed my back up at Borders books in 1999, was on COBRA for 2 years(Damn expensive! ) and when it was about to run out, I was told that the state of Georgia had a program for people after COBRA ran out that allowed you to be fully covered(See, no one wants to cover a spine after surgery ) Fine, I say. Well, it turns out to be nothing but a fancy version of catastrophic insurance, my deductible is $2500! And Blue Cross/Blue Shield has the guts to only apply $40 of an $80 doctor's visit towards the deductible!

Well, I was paying them 127 a month for nothing, and they decided that was still too light a price to pay for never paying a nickel towards any medical bill. Now it is 172 a month, which is just too damn much...So, I know that there are some self-employed folk on this board that must have there own insurance(Or does everyone in the same boat have insurance thru a spouse?) I am not worried if my back is, or isn't covered at this time, just want a more reasonable deductible that I can dream of meeting without losing a limb!

Can anyone help???

Thanks!

Edited June 7, 2004 by BERIGAN

[Upright Bill]

The local chamber of commerce should know about the local small business owners association. The SBOA should have a program of group insurance available. Also the Musician's Union has insurance programs Musician's Union.

[Eric]

can you get any disability/workers comp from the state of GA? if you injured your back on the job ...

my sister screwed up her back lifting a box of books at the school she taught at and went down this path ...

[BERIGAN]

can you get any disability/workers comp from the state of GA? if you injured your back on the job ...

my sister screwed up her back lifting a box of books at the school she taught at and went down this path ...

Yeah thanks, I was on workers comp before a settlement a few years back....I just assumed that the state Insurance thru Blue Cross would have been better than it was...I was "protected" against my back needing more surgery, but hindsight being 20/20 I should have saved my money...in fact, I did go a few months without insurance, decided since the window was still open for this catastrophic insurance and I had to pay for the months that I did NOT have insurance, and it was legal for them to do that!

[BERIGAN]

The local chamber of commerce should know about the local small business owners association. The SBOA should have a program of group insurance available. Also the Musician's Union has insurance programs Musician's Union.

I'll look into SBOA, thanks!

[Brownian Motion]

You could always move to Canada. They've instituted a neat idea there called national health insurance.

[Bright Moments]

Gee -- and no one has yet suggested that you Vote Democrat?

i'm SHOCKED!

[doubleM]

Vote Democrat...? What other option is there?!!!

[Jazzmoose]

Well, Hilary had this idea about health care...

Seriously, though, if you'll pardon the expression, "I feel your pain". I had to go without insurance during my self employed days, and although I got lucky on the health, my teeth are only just now recovering. Have to change my name; "Cletus" doesn't fit anymore...

[Brownian Motion]

Astounding post.

[catesta]

B, I don't know if you belong to any professional associations, but sometimes you can get a group rate for an individual policy.

For example, the Nursery Association has such a deal here available for it's members.

[SGUD missile]

What do you need health insurance for? Are you sick?

Waste of money, imo.

Disability insurance is 1000x more important.

Thats a very dangerous malinformed comment, D ..

Before my late wife passed on three years back, we were paying about $450 p/m for 1.5K deductible ( each ) insurance in WA state

now that I'm over 65, I STILL have to keep a Medicare Supplemnt policy that costs me $212 p/m on TOP of the $66 Medicare takes out ..

[Jazzmoose]

Well, going without health insurance might be a gamble worth taking if you're young. Just keep in mind that it's still a gamble; young people get sick too. For my wife and I (me late 40s, her mid 50s) I wouldn't even consider going without health insurance unless of course circumstances forced me into it. We'd be screwed.

[connoisseur series500]

All small business owners have problems with their medical coverage.

I can only give general advice: remember that insurance companies are in it to make money. Either you can pay huge premiums in order to have low deductibles and low copays, but you will rarely get more out of the insurance company than they got out of you.

The best bet in general terms is to get high deductible plans in the $2,500-5,000/year range. The idea is to keep monthy premiums as low as possible. You then go and determine the amount you are saving by not having full coverage and you bank the difference each month.

As that sum grows in the bank, you then use that to pay your medical bills. This works out to a program of self insuring. I think it's the best way. The minimal amount of health coverage you pay for is there for catastrophic care only.

You'll probably make out in the end as long as you are banking the difference between the two payments.

Follow?

[GA Russell]

Berrigan, I recommend that you look into a group called NASE - National Association of Self Employed. They sell group insurance to small businessmen.

The company is owned by UICI, listed on the New York Stock Exchange as UIC.

I know that they put in writing that they won't screw you after you file a claim, for what that's worth.

[connoisseur series500]

You guys think that once you get sick insurance companies are not going to sell you coverage, right?

Wrong. They can't deny you coverage by law, even if you drag your severed head into the ins. brokers office.

Not entirely accurate.

You cannot be denied medical coverage within a group setting; however, if you are self employed and seek individual coverage, you could very well be declined. It happens all the time. People are even declined for being overweight.

[Uncle Skid]

The best bet in general terms is to get high deductible plans in the $2,500-5,000/year range.  The idea is to keep monthy premiums as low as possible.  You then go and determine the amount you are saving by not having full coverage and you bank the difference each month. 

As that sum grows in the bank, you then use that to pay your medical bills.  This works out to a program of self insuring.  I think it's the best way.  The minimal amount of health coverage you pay for is there for catastrophic care only. 

Lots of good advice here, from everyone. I've been self-employed for over 10 years now, and in my experience, conn is absolutely right – if at all possible, aim to become self-insured.

If you decide to investigate that option, check in to something called an HSA (Health Savings Account). It used to be called an MSA (Medical Savings Account), but the rules have changed recently, for the better.

Essentially, it allows you to contribute pre-tax money, up to 100% of your annual deductible, in to an account that you can draw from as needed. Any contributions you make carry over every year, so there's no "use it or lose it" issues as with some employers medical savings plans.

My coverage has a $3,500 deductible (this year), and I'm planning on putting as much money as possible into the HSA, and then raising the deductible next year. Once I have around 2X the deductible, I'll probably slow down or stop contributing.

The beauty of this plan: my previous coverage premiums were rapidly approaching $900 per month. The high-deductible coverage is less than $250 a month, and the (optional) HSA contribution is about $290 a month. The downside is that we pay for essentially everything until we hit that deductible, which of course I hope never happens.

Another thing to be aware of -- my family and I had to go through a pretty thorough application process to get this coverage. I have to assume (as conn pointed out) that insurance companies do a fair amount of "cherry-picking", and they probably make it extremely difficult and expensive for anyone with pre-existing health problems to get coverage.

Dmitry’s advice regarding disability insurance is also worth considering. Policies become much more affordable as you increase the “elimination period”.

[connoisseur series500]

Uncle Skid has it all worked out beautifully.

There it is folks!...in a nutshell.

[Jim Alfredson]

It is completely inexcusable that in the richest country on earth, the good ol' United States of America, we do not have a national health care system. There is no excuse.

I feel your pain, Berigan. Before my wife got a city job and benefits, I never had health insurance of any kind. Never. Not even as a child growing up. And with seven siblings, you better believe that your arm would have to be cut off before you go to the doctor. My parents just couldn't afford it.

[SEK]

I got cancer, seemingly out of the blue, when I was 37 years old. I'm 50 now, after four craniotomies and frequent monitoring and treatment. I had group coverage when I was able to work, and I've been covered by my wife's plan since then. Without insurance, my wife would be heavily in debt and I'd be dead.

Another checkup (MRI, blood tests, etc.) is coming up for me within a couple of weeks. Thanks to insurance, the high expense is not on my list of worries.

Berigan, I don't know how many non-wealthy self-employed people get by when disaster hits them in our country. I hope that you can find an affordable solution.