Health insurance

on the open market chances are you can't afford anything that's "worth getting excited about"

when I looked, for a half decent policy that actually paid for something was about $1400 a month for the family. doesn't do much good to have a $1000 a month policy that has a $10,000 deductable

 

I have looked on more than one occasion, under different circumstances and at different times over the years. Unless your wife works and you can get on hers, which sounds like it isn't the situation, there is nothing to get excited about. Health insurance is expensive.

Your least expensive chances are through the company you lease to, through some kind of group that you might be able to get into and believe it or not, possibly your personal insurance agent. If you have any of the insurance for your truck through an agency, you might try them.

At 54, I can't afford anything good. The only use for what I can afford would be to avoid bankruptcy in the event of a catastrophic medical event. That is a consideration at my age with my family history.

On a side note: when you become self-employed the cost cutting activities of those evil trucking companies take on a new perspective, don't they?

 

When I got my policy through BCBS, it was $65/month. It's gone up every year...and is currently $100/month

$1750 deductible, which must be paid in full before BCBS forks over one red cent. If I go to the doctor, there is no "co-pay"...it's all out of my pocket until I meet the deductible. Same with medications and every other medical/health care expense. Insurance doesn't kick in until I meet my deductible.

Once the deductible is met, expenses are 80% covered, 20% out of my pocket until I reach $4750 max out-of-pocket for the year.

I reach the maximum annual out-of-pocket if/when my medical bills total $16,750 for the year.

From that point on, it's 100% covered by BCBS.

Health Savings Account compatible...which under the current IRS rules allows me to deposit up to $2900/year pre-tax dollars into an interest bearing account in order to pay for my share of the medical bills. When I turn 65, there is no restriction on the use of this money...so in other words, it can be used to supplement other retirement plans with the added benefit of easy access to the money beforehand if I need it to pay medical bills.

Guaranteed renewable (they can't cancel it unless I fail to pay the premium).

Found the policy through the NRA endorsed insurance program.

I like it because it is insurance...there to protect my assets in the event of a catastrophic and unexpected event...without paying for a bunch of "extras" I don't want or need. Just as I don't expect my homeowners policy to cover lawn maintenance, painting, landscaping, etc...and just like I don't expect my car insurance to cover oil changes, brake jobs, tire rotations, etc...health insurance shouldn't be expected to cover regular maintenance items. Remember, the more you expect ANY insurance policy to cover (be it car, home, health, or any other), the higher premiums you are going to pay. You can either pay for regular preventive & maintenance services as you use them, or you can pay the insurance extra to cover them whether you use them or not.

Even in a worst-case year, the most I'll have to come up with (premiums + max-out-of-pocket) is $5950...less than $500/month on average. However, the years where I have ZERO health issues, I'm only on the hook for the premiums and can pocket the rest.

 

When you look at insurance these days for self-employed the best solution is what pedigree has posted. I have looked at various scenarios and it cost less using a high deductable policy with an HSA. For my family I can pay half on a yearly basis with one of these programs than what a traditional program would cost.
But I forgot, Obamacare is coming.

 

that's pretty much like the policies I was looking at but I don't know where you're getting it for $100 a month

 

It is insurance. It would be like me saying I pay $6000 per year for my truck insurance. You have to compare it to what you are looking at, your state, age, health issue, etc. I have my son, and soon my daughter, on a program that runs about $175 per year. But he is 21, in college and biggest medical concern is if mixing gin, scotch and rum in a funnel will come up right away or in three hours when he is making his move on that young lady.

 

policy for myself and son isn't too bad. add a spouse and it goes up alot for some reason.

 

It is because everyone knows that women will kill ya.