Forums: Discussions for entrepreneurs and small business.

Does anyone know of any affordable health insurance for individuals, families, or small busineses with more than one employee to share some ideas with the community?  Before working for StartupNation, my husband and I were investigating individualized family plans, since he owns his own solo-business, and it amazed me how lacking this type of insurance is, unless you are on a group policy.  Any tips on finding affordable health insurance for individuals or families that don`t have the "group" option available?

Recently my local Chamber of Commerce started to offer Chamber members a group rate for health insurance through Blue Cross Blue Shield.  Your local Chamber might offer a similiar program in your area.  To read the details please go to: http://www.ypsichamber.org/pr3.php  

The Boise Metro Chamber of Commerce implemented a similar program about a year ago - with Blue Cross and also with Blue Shield.  (They are two separate entities here in Idaho.)  The program is interesting, and does provide something of a `consortium` for group-like rates for small businesses.  We still found a better rate on our own.  If you search out a good independent agent, they should be able to shop your application around and offer you several options and rates to choose from. 

Good Luck!

You can continue your existing employer-provided health insurance for a certain limited period (usually 18 months) under COBRA. You will typically pay both your share and your employer`s share of the policy cost plus a small administration fee. In many cases, this is more than you would pay under an individual policy.

In my state (Washington), once you have used up COBRA, you have the right to apply for an individual policy within 90 days without having to fill out a medical history. Having an existing policy also eliminates the waiting period for pre-exisiting conditions that normally exists.

(I am not an insurance expert but just went through this process myself.)

Avoid the National Assoc for the Self Employed or some group like that.  After having gone through a major head trauma injury with a friend who`s husband fell off a roof in his house-moving business, the insurance is crappy -more of a discount plan. They didn`t find that out until the bills started rolling in. For instance, the plan covers $900 a day for ICU  - not even close to what it really cost.  And, they wouldn`t pay for in-patient rehab more than 30 days.  It was a nightmare for them.  He was lead to believe he had good coverage by the agent.

~Kim

1. Health insurance varies by state, depending on the laws in your state. For example, in New Jersey, it is guaranteed issue and everyone pays about the same rate. For a family that`s at least $800 a month for a basic, basic plan. In North Carolina, we`ve got a family plan for about $300 a month that covers more things.
   
2. It is usually easy and less expensive to buy health insurance when you are healthy. The insurance companies know how much a condition will cost and charge accordingly.
   
3. If you have a medical condition, it may cost you more. If you have a serious medical condition like diabetes or cancer, you may not always be able to get health insurance, and in most states, it`ll cost a lot more money. In North Carolina, the insurance for those with a medical condition, while guaranteed issue, may cost up to 7 times more than their best rate. In New Jersey and other states with "community rating", there will be no cost difference. People with a medical condition may do better to find an employer or other true group plan to contain their health insurance premiums if they don`t have community rating in their state.
   
4. If you increase your deductible your rates will come down. You should have financial means to pay the deductible.
   
5. If you opt to skip the co-pay option, your rates will come down. Copays may range from $10-$40 a visit. Our discounted network rate for a typical doctor visit is about $55. This is particularly valuable if you don`t go to the doctor often.
6. There are on average about a dozen licensed health insurers in any given state. Ideally you`ll identify those that are high quality and get quotes from all of them. Then find the one that works best for you.

The process can be made very simple if you work with the right people. Usually it takes people days or even weeks to figure this stuff out. At Easy To Insure ME the entire process doesn't take more than a half hour. From the client going online and looking at quotes, to the decision making process to the application.