Comments on: How To Find Inexpensive Health Insurance When You’re Self-Employed

By: J.Cyrus

J.Cyrus — Mon, 04 Feb 2008 11:16:31 +0000

There’s a gentleman by the name of Hilary F. Cooke with a great selection of options in Brattleboro, VT - speaks with everyone directly (far more often than not) at the initial call; down-to-earth:
http://www.healthplanmarketplace.com

services all of New England.
Be Well.

By: Brian Lenell

Brian Lenell — Tue, 30 Oct 2007 13:55:59 +0000

For a good workbook on the health insurance issues go to http://www.healthinsurancetoolkit.com/health_crisis.pdf

You can use the spreadsheet to see if a particular deductible is right for you.

Most people don’t understand how HSA’s work. Case in point “they don’t begin to cover the expenses of even something relatively minor (yet life-threatening) like appendicitis. It’s pretty scary how quickly you can run up 6-figure medical bills.” The largest family deductible that you can have is in 2007 $11000, and that is the maximum family out of pocket as well. While $11000 is a lot of money, it is not 6 figures. That is why you need to maximum fund your HSA account. If you don’t, you are only fooling yourself. One day you will have a large claim and will need the money in your HSA. And if you don’t use the money in your HSA, it can be used in retirement years like an IRA. Reference IRS Publication 969.

However you may not want to go to the highest deductible immediately. Us the workbook stated above to see what is the best rate for you.

And if you are in Illinois or Wyoming try http://www.HealthInsuranceToolkit.com for rates and calculators to help you in your decision.

By: Myspace Text

Myspace Text — Thu, 26 Jul 2007 11:11:30 +0000

I went with HealthNet (with HSA) via eHealthInsurance.com, however I bypassed EHI and applied directly to HealthNet since they claimed better support if I ever needed it.

By: Brian Armstrong

Brian Armstrong — Wed, 25 Jul 2007 15:07:23 +0000

I’ve been hearing more about HSA’s lately, thanks for the information guys.
Brian

By: John R. Ingrisano

John R. Ingrisano — Wed, 25 Jul 2007 14:58:57 +0000

I’ve been in business 30 years, and I watched my insurance costs soar. (The delivery of my first child, born in 1974, cost me $100, btw.)

Several years ago, I was shelling out thousands of dollars a year, with high deductibles and coverage that seemed to only cover things I didn’t get.

Then I did my HSA research. My premiums plunged, I got to deduct contributions to my HSA Account, and overall, I have no complaints. For details, check out the article on my site.

John R. Ingrisano, The Freestyle Entrepreneur

By: Sonia

Sonia — Tue, 24 Jul 2007 19:37:14 +0000

HSAs are fine, but realistically they don’t begin to cover the expenses of even something relatively minor (yet life-threatening) like appendicitis. It’s pretty scary how quickly you can run up 6-figure medical bills.

Health insurance for my family would cost me at least $1000 a month, probably more. And unless I can find a group (my local chamber of commerce is an option, I need to check them out), I might not be able to find coverage at all. The last time I tried on my own, I was denied because I had a test in my early 20s that showed elevated cholesterol. (I’m now 41, my cholesterol has been fine for decades, but they don’t care.)

Fixing this would probably be the single greatest thing the gummint could do for us small businessfolk. Among my friends, I don’t know any small businesses that can afford to offer insurance any more, although most of us very much want to.

By: Terra Andersen

Terra Andersen — Fri, 20 Jul 2007 18:35:27 +0000

I’m SO bad, I really have been putting off getting health insurance for the last few years. You know… it’s the same thing all young entrepreneurs thing…”I’m young and invincible”.. haha .. just kidding. I will probably be looking into Blue Cross, as I have heard great things about them.

By: Derrek

Derrek — Fri, 20 Jul 2007 18:20:14 +0000

Health Savings Accounts (HSAs) are a great option for the self-employed. I’ve done some research on these, but never opened one myself.

http://www.treas.gov/offices/public-affairs/hsa/

By: Brian Armstrong

Brian Armstrong — Fri, 20 Jul 2007 05:27:11 +0000

Travis: I have no complaints about BCBS. I don’t have much to compare them to, but I’ve had no problems. Glad it could have helped!

By: JJ

JJ — Fri, 20 Jul 2007 02:30:53 +0000

We found health insurance the same way - however, ours (for a married couple without maternity coverage) just increased to $849 per month. We have a high deductible - $1500 per person per year. Neither of us had any health issues when we got the policy, so we won’t be rated as higher risk even if something serious develops in the future - or so they say. Still, our policy increases by $100+/mo each year. Our ages - 53 and 60 - are clearly the major factor.

While it is sometimes tempting to look for a “job” that provides coverage or at least a discounted group rate, we have family members in their 50’s who were laid off from jobs they’d had for many years. Fortunately were both able to find new jobs with coverage, but given their health issues, it would have been very difficult for them to find coverage at any price.

It would be advisable (IMHO) to look into health insurance options prior to giving up a job that provides it - especially if you have health issues. I know of one young man who was denied coverage simply because he was taking medication for depression.