Do You Have Health Insurance?

Bozzy

Very risky business. 50k could potentially be a drop in the bucket. I truly hope your good fortune holds out. My wife (she was only 30 at the time) was diagnosed with breast cancer in 1996. Unfortunately she lost her 10yr. battle 18 months ago. We never thought anything like this could happen to us, but it did. I have been self employed ever since we were married, and our health insurance was supplied through her employer. Over that 10yrs, her medical expenses were in excess of 3 million. My youngest is now in college, and I have student health insurance for him, but nothing for myself. Now that I have somewhat regained my composer, I am reseaching coverage for myself. I have always been in perfect health, but that can change in a heartbeat. Health insurance is expensive, but take it from me, it is not worth the risk of going without.

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Michaeljp86

But the problem is when you have to buy it for yourself they just raise your rates until you cant afford it. It pretty much is a one time deal. After you use the insurece your rates keep going up until you cant afford it.

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I am just a vessel from which genius flows -Homer Simpson

Global warming is a myth, like evolution and the metric system.

JustaFramer

Paid by the employer at 5 dollars a hour.
Most coverage is 90/10 plus dental,vision,life ins and dismemberment ins plus 70% of wages are paid if out of work for a long term illness or dismemberment. Whole family is covered

cueball707

I have group health insurance for my business. I only have 1 part timer and my wife does the books. I pay about $450 a month for myself, my wife, and our 3 kids.

CA Contractor

Bozzy - so sorry for your loss - my husband was always very healthy, kept insurance for major medical issues. Long story short, he had symptoms went to dr & had to have major surgery. Thank God he's OK & we had insurance, you could lose your house & business w/just one incident. Pay $600/mo. Troubleseeker check w/Blue Shield as they can offer different plan if you don't want to pay that much. Chris J is right on about offering medical to all employees (we also are in CA), although accountant told us IRS had new ruling last yr in which officers of S corp to be reimbursed for health premiums paid. Anyway can't stress enough if you don't have health insurance, get some even if it's just for major medical, definitely worth it.

HellisLikeNewrk

I am in the process of hiring people, so I looked into it. Individual insurance in NJ is worthless (State regulations destroyed the personal insurance market here). Once I have at least two people on the payroll, the insurance is better.

I found out I could offer basic catastrophic care for under $300 a month / per employee assuming my employees are all:
1. Under 45
2. All men (women drive up costs since they get sick more and have a habit of getting pregnant)

Basically the employee is on the hook for the first $10k but is covered into the millions after that. My tentative plan is to attach a health savings account. The HSA doesn't make the plan cheaper, but provides some insurance to me as the employer: For example, my employee gets a bad upper respiratory infection. Without an HSA, he avoids going to the Dr. because he never puts aside cash for events like this. With an HSA (which I will fund) he can ONLY use that money for medical. He has the cash then to go to the Doc, get treated, and be back at work in a couple days (instead of being out for a month because the infection got out of control).

For the moment though, I am on my wife's insurance through her employer. Its a gold-plated HMO that is very expensive (and I have used only once in the past three years).

Laketahoedan

I pay $180/mo for BC ppo5000 for myself and it sucks seeing how I have not used it in years.

I have not been to a doctor in over 3 years and I despise western medicine. I do not take any pharmaceuticals, not even aspirin. If I get hit by a bus, by all means bring me to the hospital and let the anesthesiologists at me.

I do however do some fairly extreme snowboarding in the winter and dirt biking/motocross in the summer and fall. And if I have one accident the insurance pays off.
I think my deductible is $7500 and I know from experience that a day in the hospital/ER costs more than that.

For anyone that does not have insurance (especially if you have family/dependents) you are stupid and irresponsible. <edit> no, you are an idiot<>IMO I do not care how healthy you are (or think you are) IF something happens you are 'ed.
You will spend all your money and be broke, your kids college fund will be gone. IMO
I hate the scumbag Insurance companies and our health care system but until that changes you are jeopardizing your lively hood and those that depend on you.

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ApgarNJ

1200 a month, separate policies. i'm 34, shes 36, and one, (soon to be two) children on her policy.

i hate writing that huge check equal to our mortgage payment each month!

i don't want the government running things but i don't want to be paying for all the losers who want to smoke, drink and do drugs and then expect us to pay for their high health care costs.

healthcare should be based on how healthy you are, just like LIFE INSURANCE!!!!

constrkings

I am in Jersey also (South South Jersey for those of you who have been following that other thread ) and you're right, individual insurance is worthless. I am interested in knowing which company you found this information from.

We currently have health insurance on our kids but not on ourselves which I agree is stupid. We had it until about three months ago and the rates just got out of control so we want to look into getting it through the business -- when you say two people on payroll, would myself and my wife count? Being that we both get a check from the business? Or not since we are the owners?

RCPainting

I met with an agent to find out about insurance and learned a few things.
Check this site to find out what is in your Medical file
http://www.mib.com/html/request_your_record.html
Insurance companies will sign you up at a low rate, find out you have diabetes, high blood pressure, overweight, or ??? and raise your rates.
Do not apply for insurance until you are sure it is the right company, if you get turned down, it is really hard to get.

HellisLikeNewrk

Yes, you and your wife count. I contacted two of my local insurance agents and got info from them. I also got quotes online via insurance agents that advertise HSA's specifically. There are lots of choices out there once you get into business health insurance (apposed to individual). Read the fine print! For example, some plans don't cover drugs, which can kill you financially if you get one of the following:
1. Drug resistant TB which is back in the USA because of illegals getting in without health screenings. It costs around $250k in drugs to cure.
2. Cancer.. the drugs ain't cheap.

Remember, the HSA doesn't really make the insurance cheaper. It does allow you to put over $5k a year away, tax deferred, for long term health / retirement savings. You can invest that money just like an IRA or 401k.

Frankawitz

I don't have any I look at it as a Luxury item, I have a Insurance Agent who told me he could get a Healthcare plan for $151.00 per month with a $1,500.00 deductible on Hosiptal stays, a $20 co pay. But I see it as a waste of money, Cause I see it that No matter how much money or Healthcare plan you have when it is your time to go and Your Bingo Ball is pulled upstair Your goin. I can spend my hard earned wages on other things then Healthcare, I feel Doctors should lower their prices. as for Goverment Healthcare look at Canada, one of my customers told me that his wifes Father had to wait 6 months to get treatment for Heart problems, He could have died, but he was lucky, You look back 100 years when a Doctor would take a Home baked pie as payment and they would come to your home, but now they want us to put their kids through college and let them drive that new BMW. so I look at Healthcare as nothing more then a Big rip off of the Middle class and Low Income people and the Rich get all the Bells and Whistles. the rest of us get to take a number and wait to be seen.
My girlfriend has Epilipsy and the State took her Driver License away cause of it and will not give it back to her, they also told her she would have to pay for her Medicine which costs $190.00 for one month, the other kicker is she can't get a job cause of her Epilipsy. So she goes without the Meds and she also Drives. Our Goverment can't even run this Country and now people want them to run Healthcare. The Democrats are reaching for a pie in the sky with National Healthcare, it's going to be like Mininum Wages the Goverment raised it and every other job also raised their pay so what was the good in it? Here in Michigan we are seeing American Axle workers being told to take a pay cut of 50%. I don't see any Canidate going to make these items work. Obama is now attacking the working class with his remarks about 2nd Amendment and Religion yeah He's a real American

ApgarNJ

frank. you are really risking it big time, especially if you have kids are want to have kids. it's not always a death sentence to be sick, so are you willing to have a huge bill for something that isn't even life threatening? to people who think it's better to spend money on other things like fancy cars, plasma tv's and quads or whatever, and not spend it on healthcare for their family, they are just playing russian roulette and all that money you think you are saving will all go down the drain if you get sick and even spend a week in the hospital. i don't like paying my healthcare, but the last thing i need is a bill that is several hundred thousand dollars if not millions if myself or anyone in my family gets sick.
you are just another number the democrats can add up to say, hey, look how many people don't have healthcare in this country. that number is no where near the real numbers. they aren't factoring in the people who are choosing not to have it.
i won't support universal healthcare either, it's going to be a mess and it will never get passed. maybe a hybrid plan. i'm sick of my rates being high for all the people who want to smoke, drink and do drugs and then not have insurance, they should be paying the high rates, i'm healthy, my rates should be low!! i don't eat fast food everyday either like a lot of morons out there. we are an unhealthy nation because we eat junk, dont' exercise, smoke and drink too much, and then expect the government to bail us out when we get sick, of expect everyone else to pay for it because we don't have insurance.

UltraV

Thanks for the info, I've been procrastinating for a long time now.

kenscar

Had health insurance through my union, IATSE, for years. It was a pretty good plan. If you worked enough it didn't cost anything but once a show was canceled or went into hiatus you had to start paying. I think it was about $400/month for me, my wife and one kid. Last year I started my own business, moved to another state and had another kid. Now there are four of us to insure and I just haven't been able to afford it. Last year was the first year I went without insurance in a long time - but it saved me thousands because we wouldn't have used it anyway! We did go to the doctor a couple times for minor things but just paid out of pocket, maybe $100 for each visit - a bargain compared to paying $700/month premiums. I understand it's a gamble but it's a gamble some of us (most of us?) have to take.

PLUS, even if you have health insurance getting sick or injured can still ruin your life financially - just watch Michael Moore's "Sicko".

Despite all that - getting health insurance again is still one of my top priorities - soon as I can afford it.

Frankawitz

Dan, I am 51 years old and as for having kids those days are way past, I have two grown kids that are 22 and 24. I have been to the Doctor maybe a dozen times in my life time. I really could careless if something happened to me, I would not go to see a doctor I don't Believe in doctors I feel that between them and lawyers are two of the biggest rip offs of our society. I Believe in when it's my time then I will deal with it, The way things are going up here in Michigan very few have Healthcare with all the lay offs and buys out we have seen. But if you get sick it's no ones fault but your own, I feel fine and if I have a major medical problem I always have my 22 to stop that problem so I really don't care in other words. Then the State of Michigan is going to get whats left for organ donation so this way my kids don't have to pay for a funeral service, they can just throw what's left in a dumpster somewhere. good enough for me
another thing is that with the President cutting Medicaid, in our State we will see 15,300 people who will lose thier coverage and the State will lose $735 Million dollars in Federal aid. But when it come to insurance I feel you get what you feel you need.

Tom M

Blue Cross Blue Shield just raised me $60./ per month starting May. Not 10 not 20 $60.00 I pay for this alone, add in how much Im put in the gas tank, the IRS and everything else its terrible.

Michaeljp86

Add it up, comes out to like 60% of your pay and I dont even have health insurence.

__________________
I am just a vessel from which genius flows -Homer Simpson

Global warming is a myth, like evolution and the metric system.

Tom M

Government jobs are the way these days. I have friends that are as dumb as wood (cops) that are making six figuire salaries, great benefits, pensions vacation time. I knew in January I wasnt going on vacation this summer. Im going broke staying afloat the last few years. These guys almost got there 20yrs in--they will be collecting pension and working somewhere else. My parents cant afford the taxes and the health insurance in NJ anymore what do you do just die its terrible. Self employed people have zero protection if your not real successful.

Michaeljp86

Yep gov jobs are the way to go. Thats why I was thinking about joining the national gaurd. You can retire from there just like a gov job but you only work 1 weekend a month. And if this contractor thing doesnt work out and I get a job at a road commision or something after 20 years Ill get 2 retirements, like 4k a month. And most government jobs you can buy years off your retirement and retire early like in 15 years.

__________________
I am just a vessel from which genius flows -Homer Simpson

Global warming is a myth, like evolution and the metric system.