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health insurance

Discussion in 'Business Fundamentals' started by mike33087, Jan 22, 2006.

  1. mike33087

    mike33087 Senior Member
    Messages: 555

    How many of you, that are self employed go without health insurance?
     
  2. 06HD BOSS

    06HD BOSS 2000 Club Member
    Messages: 2,611

    Not me man! Went without for a while, but figured out that its not worth it. Especially with a limited income in a winter like this, if you need medical attention, you're screwed. Ive got an awesome plan. $150/month with $500 deductible, $20 co-pays, $40 specialist co-pays, $50 emergency room and $15 prescriptions. DEFINITELY is well worth it (in my mind). In the landscaper's line of work (even when being careful) its not hard to get injured.
     
  3. dutchman

    dutchman Senior Member
    Messages: 281

    Hey Dave.. who do you have....
     
  4. 06HD BOSS

    06HD BOSS 2000 Club Member
    Messages: 2,611

    Cigna. Previously had Blue Cross but their rates went through the roof!! So i switched over January 1st. That price includes full dental too, just a $5 co-pay.
     
  5. dutchman

    dutchman Senior Member
    Messages: 281

    Thanks Dave I will give them a call
     
  6. Turfmower

    Turfmower Senior Member
    Messages: 376

    How did you get it so cheap? I let mine go when it hit $700. a month.
     
  7. Charles

    Charles Moderator Staff Member
    Messages: 256

    Cheap has alot to do with age. You are not going to find cheap with the 35 yr old and up crowd. If you have ever had a serious illness before applying then you can forget about cheap too
     
  8. bugthug

    bugthug Senior Member
    from Pa
    Messages: 268

    I pay for a family plan and 2 seperate employees. We have health america. way cheap. I have had 2 mri s done in the last year and they paid for them and our rates didnt go up.
     
  9. Stark_Enterprises

    Stark_Enterprises Senior Member
    Messages: 318

    I am actually WITHOUT it right now, and have been without for like 2 months, but will be getting it again before spring starts. I am 21 single, no kids and in good health (knock on wood) and have enough money saved up incase something minor was to happen, now if something major was to happen i might have to sell a truck or something.. (God forbid). When i first started my LLC i had the mega life and health insurence Co. which im sure some of you have The So Called N.A.S.E. Well it started out fine 110 a monthwith 3 tho dedectable on major injuries/ sickness. BUT then would you belive every 4 months after the first year i was getting letters saying the rate was going up and my coverage was going down and that just pissed me off! the last bill i payed in late november was 180$ and my dedectable was 5 tho!!! i just got fed up with it and said F-it. I have been tring to get on with Connecti-care but havnt had the time or ambition to fill out there 20 page application. But now since im reading this Thread it is getting me thinking again that being in this bussines I really should not be without it. I am really liking the sound of your plan HDBOSS would you be willing to post a Contact Number to a Cigna Agent or should i just Call Cigna it self and get some info! Thanks i appreciate it.
    A.J.
     
  10. SLSNursery

    SLSNursery PlowSite.com Veteran
    Messages: 140

    Check out an HSA plan

    I provide healthcare as a benefit for those employees who want to buy it. We pay a portion (1/2) and they pay the rest. Now we only provide it for them, and they can add their family at their own expense. It is an Anthem product with decent coverage, low copays, etc. Not too many guys buy in because the cost is pretty high. For me, at 36 with a family it would be between 12-14k per year. So I saved up some money and now have purchased an individual plan through Anthem with a high deductible. I can use the money I saved up to cover any costs before the deductible is met, after that, all covered charges are paid. This costs about $380 for month, and is in effect a major medical plan. In addition to the premium, with regular checkups I paid out an additional $1200 bucks or so last year. Trust me, you will look at the bills the doctor sends when you need to pay it out versus just going to the Doctor and letting the insurance company pay. As an added bonus, the amount due to the covered doctor is at the rate negotiated out by Anthem. So if a practice charges $500 for a procedure, but Anthem pays $375, I pay $375, and that comes off of the deductible.

    I started this a few years back, before the HSA plans were available, and will switch to an HSA soon. I would think the HSAs make sense for younger healthy individuals. You pay the lower premium, can get a fair deductible, and can bank the difference in a Health Savings Account tax deferred. If you use it towards the deductible it is tax free. If not, it is tax deferred. If anything major happens you're covered. Plus, if you add employees, you don't have the situation where 50% of a health plan sucks profits right out of the company. You would need to work out the details with an insurance agent, but this is the gist of it. Some plans even cover regular maintenance (which starts to come in to play as you get older) without hitting the deductible.

    I would not be without insurance. Even during some lean periods it was prudent to carry the short term major medical coverage at a pretty low cost.