Health insurance for the Owner Operator?

Discussion in 'Ask An Owner Operator' started by belt363, Jul 31, 2021.

  1. belt363

    belt363 Bobtail Member

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    Hello I’m buying a truck but am having trouble finding health insurance. Well I should say struggling finding affordable health insurance. Any help would be greatly appreciated thanks
     
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  3. Lazer

    Lazer Medium Load Member

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    It all depends on what your definition of ‘affordable’ is.
     
  4. Lazer

    Lazer Medium Load Member

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    Are you married? Could your spouse add you to the policy?
     
  5. Midwest Trucker

    Midwest Trucker Road Train Member

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    Healthcare.gov

    Just don’t plan on keeping your doctor just because you like your doctor.
     
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  6. Final Drive

    Final Drive Road Train Member

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    I'll never understand that "Keeping Your Doctor "
    I don't have one...
    The dentist, I saw last to clean my teeth asked that question.
     
  7. TallJoe

    TallJoe Road Train Member

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    The only way for a owner operator I know of is Obamacare. You may receive tax credit or premium subsidy to make it affordable but If you exceed your threshold then you pay the full premium.
    My coverage PPO Silver, Blue Cross Blue Shield of Illinois ( 3 people on it) cost me $1450 per month. I've had it for some time, the biggest subsidy was eligible for was close to $700. This year, in which earnings are much better than in previous years, and there's not too many options to escape with income, other than an en engine overhaul, I'll most likely end up paying back all the subsidies. So my coverage may end up costing me $17 400, if nothing changes.
     
  8. belt363

    belt363 Bobtail Member

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    That’s what I have now as a company driver bcbs Illinois. Most I’ve seen are like you said the silver ppo by myself was close to 1100-1200 month. I’m making 70k+ at paying 240 a month for coverage. I would “assume” running my own truck I could make more than 90k to cover my premium for the year
     
  9. SteveScott

    SteveScott Road Train Member

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    Your first couple of years as an O/O it's very doubtful you'll be making 90k per year, so the Obamacare exchange would probably be able to offer you some decent rates on medical insurance. I'm in my 3rd year as an O/O now, and with all of the depreciation from my equipment and other expenses, my personal income was practically nothing on my taxes for the last 2 years, so my medical premiums are very cheap. This year they'll be going through the roof with my annual income.
     
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  10. Midwest Trucker

    Midwest Trucker Road Train Member

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    It’s sort of an inside joke from back in 2009 or so when they rammed Obamacare through congress without having even read it yet. The fear was people would lose their doctors because they would lose their insurance packages. Many folks who have had the same doctors for years and years or have Illness find it extremely important to be able to keep seeing the person they trust and who knows them.

    The big narrative that the Democrats kept saying over and over and over was “if you like your doctor, you keep your doctor”. It was all a lie. Everyone’s plans were cancelled and prices skyrocketed. People lost their doctors because they were now in many cases out of network.

    That’s the best way I can describe it. There are YouTube videos of Obama saying over and over and over this phrase. Of course media piled on and said republicans were using scare tactics.

    Now our supposed to be more affordable insurance is 1200/mo with 10,000 deductible vs 200 a month with maybe a 2500 deductible. Obamacare has been an absolute disaster. It’s really a shame because it encourages people to try and make less money and/or cheat the IRS so that they don’t end up spending 10’s of thousands more by losing the subsidy. Getting a raise most times means making less overall money. So counter intuitive.
     
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