Health Insurance?

[ADP Photography]

The major thing holding my husband back from joining me full-time in our photography business is health insurance. Most of the people I have spoken with so far that own their own business use the cross-your-fingers method... with a baby, that's just not possible for us.

Any advice as to where to go, what you use, premium cost, etc. is GREATLY appreciated.

To tell you how crazy it is out there, we had one company want us to have $10,000 in their savings bond plus $800 a month in premiums... WTF?!


Thanks!
Jenn

[dracula02]

I've heard of some local chambers of commerce or business groups getting together to get a group policy. It ends up being a bit more affordable for everyone. I know healthcare's expensive from my own personal experience, so I definitely understand where you're coming from.

[SCone]

Most all of the multi-level marketing companies have access to group health at great rates

[Bill M]

You might look into strictly major medical health plans. My wife and I did that and went from $600+ to $200+ per month in premiums. I had to go to the dr a couple of times after going this route earlier this year and did not spend near the difference in premiums. Even with a baby you would come out ahead.

[tresorph]

I thought the PPA had a group medical you could buy into. But yes, there are a handful of small business organizations that do have this.

I used to work for Clark Benefit Group out of San Antonio. Health insurance brokers - they work your stats and shop it to all the major carriers. With each carrier they present you with all available options: high/low deductible. Child only plans, etc, etc. They work with alot of small business and individuals. Jim Seviers is who you should talk to. They paid by the carriers, so it's a free service to you.

[Cajungaltx]

I'd look into a HSA. Some major points to know about HSAs are:

* It is a major medical policy with a large deductible and a low premium.

* An excellent way to control your monthly premiums while saving for any future costs you may have. If you guys are relatively healthy - this is a GREAT way to go.

* You can save up to about 70% on your premium as you are saving money that can be used tax-free on medical expenses.

* The amount saved in your HSA rolls over from year to year, allowing that savings to gain interest or investment earnings.

* You can take money out of this account tax- and penalty-free whenever needed for medical expenses. If it's used for anything else, you pay taxes and a BIG penalty.

* This money must be used for medical, dental and vision care; however, dental and vision payments don't count toward your deductible.

[toverman]

We've used Blue Cross Blue Shield off and on for years, good coverage and not bank-breaking.

[Davidtxs]

Originally Posted by Cajungaltx

I'd look into a HSA. Some major points to know about HSAs are:

* It is a major medical policy with a large deductible and a low premium.

* An excellent way to control your monthly premiums while saving for any future costs you may have. If you guys are relatively healthy - this is a GREAT way to go.

* You can save up to about 70% on your premium as you are saving money that can be used tax-free on medical expenses.

* The amount saved in your HSA rolls over from year to year, allowing that savings to gain interest or investment earnings.

* You can take money out of this account tax- and penalty-free whenever needed for medical expenses. If it's used for anything else, you pay taxes and a BIG penalty.

* This money must be used for medical, dental and vision care; however, dental and vision payments don't count toward your deductible.

Are HSA's eaiser to get ? I have some health issues that noone will underwrite I dont mind the pre existing conditions restrictions usually 12 mo But Id like to have some coverage in case something major happens

[pbyd]

The PPA tried to get Congress to pass a law that would allow groups like the PPA to have group polices like company have, but one side of the Senate voted 100% against it. So if you have insurance "Keep the Day Gig" I have been many years without insurance ( at 62 years old it would cost me over $800.00 a month to have insurance. One of the many painful things about being self employed (Self Unemployed).
But after 39 years, what else would I want to do.
Wayne

[Cajungaltx]

Originally Posted by Davidtxs

Are HSA's eaiser to get ? I have some health issues that noone will underwrite I dont mind the pre existing conditions restrictions usually 12 mo But Id like to have some coverage in case something major happens

David - a HSA works in conjuction with a High Deductible Health Plan, which is easier than some kinds of insurance to get. It's all about risk. You are accepting the larger percentage of the risk with a HDHP, versus say a regular 'pay your $20/co pay' type thing.

Here's a pretty decent article on it:
http://ezinearticles.com/?What-Are-H...nt?&id=1415825

[ronocnikral]

if you can just hold out until the end of the year, everything will be taken care of with the national health care plan...

[Cajungaltx]

Originally Posted by ronocnikral

if you can just hold out until the end of the year, everything will be taken care of with the national health care plan...

That's funny....

[ADP Photography]

You guys as always have given me some great advice on avenues to look down. I'll keep you posted on what I find out.

I won't hold my breath though on a nationalized health plan...

Cheers!
Jenn

[BWangPhoto]

Originally Posted by ronocnikral

if you can just hold out until the end of the year, everything will be taken care of with the national health care plan...

You have never lived in country with "socialized" health care. I never want to live there again. Health care here is much better the way it is.