Health Insurance
Health Insurance
(OP)
How have you self employed engineers dealt with the issue of obtaining health insurance? My COBRA benefits are set to run out at the end of the year and the quotes I've obtained are not very promising.
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RE: Health Insurance
RE: Health Insurance
Good thought. I've looked at comprehensive coverage and received a quote for $1600/month. Not likely that I could afford that. Which health insurance provider did you go with?
RE: Health Insurance
Works well for healthy individuals..if you have a chronic condition, forget it...
RE: Health Insurance
RE: Health Insurance
After being forced into free-lancing, I got hooked up with National Association for the Self Employed www.nase.org (?) and got their insurance. My wife (and VP of Finance and insurance guru) said was "OK" insurance compared to everything else she could find. It is underwritten by some insurance company. We got standard coverage, no dental, high deductible for ~$630 / month.
The lesson here: set your rates accordingly to accommodate your living costs AND the amount of lag time it will take for someone to pay you what you are owed.
TygerDawg
RE: Health Insurance
After a qualifying event (usually the loss of your job), the plan adminstrator has fifteen days to send you an election notice. After that, you have 60 days to elect coverage. If you do, you have 45 more days to pay the first premium.
So if you lost your job with health benefits but hope to find another shortly, you can wait until 60 days or until you get hit by a bus, whichever comes first, to elect coverage. If you didn't get hit by a bus, you can wait another 45 days to put your check in the mail. If you find a job before then, simply don't pay the COBRA premium and it will never kick in, nor will you be responsibile for back premiums.
If you do eventually take COBRA, you will have to pay the premium retroactively back to the day of the qualifying event.
I know this thanks to my wife, who works in benefits. This Department of Labor FAQ discusses the election period and other issues:
http://www.dol.gov/ebsa/faqs/faq_consumer_cobra.ht...
Rob Campbell, PE
Finite Monkeys - www.livejournal.com/users/robcampbell
RE: Health Insurance
RE: Health Insurance
I now have health insurance through an ASCE plan. It's a decent deal on a good quality PPO if you're a member.
RE: Health Insurance
http://www.ehealthinsurance.com/ehi/index.html
The other alternative is to vote for Kerry.
RE: Health Insurance
First, don't let coverage lapse because getting back into insurance after not having coverage can make the problem exponentially more difficult.
Second, if everyone in your family is health the problem is considerably easier. If anyone has anykind of treatment within the past year, the new company will probably exclude that condition from the policy they offer you.
Third, if there is potential for a pregnancy, be careful as several companies exclude pregnancy in their lower cost offerings.
Fourth, (whew) my accountant tells me that your business can reimburse you for your medical expenses and then premimums become tax deductable for your business.
Someone mentioned NASE and that seems to be a pretty good option, if you don't have to worry about 1-3.
Good luck
RE: Health Insurance
Have you got a quote from the company you are currently getting Cobra benefits, the company I use offered a plan that continues after the 18 months expire, it had quoted prices for one, two or three or more persons all based upon the age (adjusted every 5 years) of the oldest participant. The cobra was costing $550, my payment is now $680, but the bonus was no pre acceptance health questionaire, (filled out several, denined on pre existing conditions). The price quoted for my wife and I.
Hydrae
RE: Health Insurance
What was your experience getting hooked up with NASE? When I left my company I was trying to go independent of COBRA. I looked into NASE, seemed like good coverage for a good price, but kind of confusing because of all of the optional riders I had to buy (kids, maternity, etc.). The biggest problem my wife and I had was the NASE rep was such a hard sell used car salesman type we got kind of uncomfortable. He want the first month's premium up front the moment we talked to him, and we hadn't been approved yet.
This was in San Diego. Just wanted to see what other experiences people had.
Thanks,
clyde
RE: Health Insurance
I talked with NASE insurance rep in Texas, and was very happy deaing with him. Didn't sign with them because of the rider issues like you mentioned.
RE: Health Insurance
RE: Health Insurance
Hope this helps.
Doug
RE: Health Insurance
Side note - rates have gone up drastically in the last few years (in case you haven't noticed). I change from one Blue Choice plan to another this year with a significant cost savings. When I needed a prescription recently I found out why the rates were so different. The new plan does not cover the cost. I knew this but I did not realize how much the old plan was picking up. I am still coming out ahead but it is an eye opening experience.
RE: Health Insurance