Obtaining an Affordable Health Insurance Policy

in Forum: Strategies & Tactics for Getting Efficient

Source of this discusssion: /articles/1391/1/affordable-health-insurance.asp Page description: Locating an insurer willing to issue you a policy is the biggest challenge when it comes to health insurance for entrepreneurs. Here’s a guide to leaving no stone unturned in your search for medical-care coverage for your small business.

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Dec. 04 2006 at 12:41 PM
Posted by: Aron “Quote Reply
Does anyone have a provider they recommend? We are looking to start with basic coverage for 2 employees. Just medical insurance, no eye or dental coverage right now. I am in Southern California, insights on our local area providers would be great. Thanks, Aron Aron North President Perfect Beverage LLC.
Jan. 02 2007 at 2:06 PM
Posted by: flynnjo “Quote Reply
Hi Aron, I just wanted you and everyone else that reads this post to have this warning. I have previously used Mega Life and Health - they are the provider through the Nat'l Association of Self Employed (referenced in the article). Their policy pricing is extremely affordable and we thought we had sufficient coverage for catastrophic illness. I was willing to bear the burden for "normal" medical treatment. Then my wife was diagnosed with breast cancer. Not only did the coverage not provide for catastrophic coverage, it did not cover recurring costs associated with the treatment. For example, if you saw a doctor more than once in a 90-day period, you were only covered for the first visit. That is a huge problem when you are dealing with cancer and have multiple visits in a single day. let alone 90 days. All told, we incurred $120k of medical bills and they covered $22k. And while my wife will be fine, the medical bills have severely impacted our family. Please do your research on any provider you choose. If you would like to read more about MEGA life problems, you can find many articles via google. There is also specific articles in the Boston Globe that you can search at boston.com. Lastly, the Mass Attorney Generals office is looking into them for deceptive practices. Joe Flynn JMF Consulting Joseph M. Flynn Managing Partner JMF Consulting 978-692-7396
Jan. 04 2007 at 1:51 AM
Posted by: Eastsideautotech “Quote Reply
check out costco small business health and dental insurance i believe they have it for a few states one of them i think is washington, i am paying 130 for health a month and 40 for dental but i am only 19 so it would probably be more but its the best prices i found. http://www.costco.com/Service/FeaturePage.aspx?ProductNo=101 66086
Jan. 14 2007 at 12:11 AM
Posted by: mariamarsala “Quote Reply
Besides the options listed in this article, if you qualify for AARP, they now have full medical in some states. http://www.coachmaria.com/articles/healthinsurance.html Here's to your success, Maria Marsala, Business Therapist Are you a small business looking to achieve BIG business objectives in the shortest time possible? If so, visit Elevating Your Business today!
Jan. 19 2007 at 10:40 PM
Posted by: fredrickj “Quote Reply
I need information on providing health insurance for myself and my workers. I am in the Metro Detroit area of Michigan. I did not have a need for health coverage in the past but I am growing and would like to cover all of my liabilities.
Oct. 20 2007 at 8:26 PM
Posted by: JonathanPletzke “Quote Reply
I wouldn't necessarily start with trying to find small business coverage if you only have a few employees, unless someone has a significant medical condition which prevents getting a reasonable rate on individual health insurance. Consider the failure rates of startups and the way that a number of us are serial entrepreneurs, and keeping your health insurance through all these changes means one less thing to manage. And here's the kicker - if you have employer group, even your own employer, and then someone on the plan, let's say it's you, gets really ill, the rates are going to go way up because of the experience rating of the plan. If you have individual it won't go up. If you need to close the business and you have a medical condition, you'll have a hard time getting an individual policy elsewhere, and your only option may be to get a HIPAA guaranteed policy at $1500 a month for limited benefits for just the sick person. Regarding the association insurance - there are a number of issues with this type of coverage mentioned in Association Health Insurance: Is It Time to Regulate This Product?; Kofman, M. Journal of Insurance Regulation; 2005 Vol. 24 Issue 1, p31-45, 15p. Document Type: Article Citation; (AN JIR.BD.CA.KOFMAN.AHIIIT). These issues include low-balling initial rates, meaning that your rates will jump significantly after the first year, along with cancellation of the 'block of business' as the healthy people leave the group and those with medical needs are stuck. If the group or block of business is dropped, those with medical conditions may not be able to get coverage, and if they're lucky to do so, they'll pay a lot more. Much of this doesn't apply if you live in a state with "community rating." This means that everyone pays the same rate, regardless of health. While this sounds fair, it effectively prices low-to-mid income people out of the market. States with community rating (and similar programs) include ME, MA, NY, NJ, OR, VT, WA, and some states through the Blue Cross Blue Shield. -Jonathan Author, Get a Good Deal on Your Health Insurance Without Getting Ripped-Off ISBN: 978-0-9794-7810-9 www.BestHealthInsuranceBook.com Edited by: JonathanPletzke - Oct. 20 2007 at 8:31 PMAuthor, Get a Good Deal on Your Health Insurance Without Getting Ripped-Off www.BestHealthInsuranceBook.com