I'm fortunate to live in Massachusetts, which offers affordable insurance to the self-employed. Sure, it's not the most comprehensive coverage ever, but the one time a medication wasn't covered, my doctor agreed to send me a sample he had lying around his office. As long as I'm self-employed (and unattached), I'd think twice before moving out of state and giving up my Health Connector coverage.
Health coverage has come up in the news a lot lately, and it's a very touchy topic, especially for freelancers. I'm curious how other self-employed folks handle this issue. Do you take your chances and go without? Rely on a spouse or domestic partner for health coverage? Join a union and buy it through them? Perhaps your tips will be useful to another freelancer, so leave a comment and let us know!
Wednesday, November 4, 2009
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12 comments:
I'm not self-employed, but if I was, I would go with a high-deductible health plan with an HSA to stash away as much as I could spare. And hope to god that I don't get sick.
I go without. Thankfully, I have a relatively inexpensive clinic around the corner from me. The most anyone will pay is $93/visit. While that's not ideal, if you cram a bunch of things together, then it's not so bad. And that goes for blood work, X-rays, everything, which can really drive the price of a doctor visit high.
Would I like to have health insurance? Sure. I miss that nice perk from my old full-time job. But my health is a lot better since I left that awful job, so I suppose it's a trade off.
I live in New York City and pay in the mid $500 a month range for Oxford insurance, which I buy from TEIGIT at a discount rate (yes, that's the discount rate!) as a member of New York Women in Film and Television. The coverage is great, and I can see all the best doctors, but it is expensive. I would love to spend less, but GHI and the other lower-cost insurance companies don't give you access to the best health care, and as I get older, I need it! Susan, can I ask you what the rates are like for people in Massachusetts who have to buy insurance for themselves?
@Anonymous: I pay a little over $200/month, but I'm also on a young person's plan so it's a bit cheaper. All in all, I'm very happy with my coverage. Yikes - $500 does seem like a lot, but I also know people who pay even more than that.
Hi Susan. That is great that you are paying such a reasonable rate. If I was to buy insurance directly through Oxford as an individual, it would cost substantially more than what I am paying. It really is amazing how much insurance costs, but it is something you just can't go without. Plus, I do get to take a deduction for my premiums/co-payments and other health-related costs on my tax return, so at least I have that.
I rely on my husband's health insurance benefits at his work. Before we got married, I just went without health insurance.
In a way, it didn't seem like that big of a deal to me. Growing up, my parents both ran their own companies, so I didn't actually have health insurance as a kid a lot of the time.
Just a little info about Insurance it is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed and known small loss to prevent a large, possibly devastating loss.
I'm in Malaysia, so it's not quite comparable, but the rates you guys are paying for insurance is quite scary.
I've got two health insurance plans, one from my company and the other my own personal coverage. Generally both insurance plans covers hospital stays and medication for serious illnesses, though if I want to get prescriptions I need to pay first then submit a claims form to my company.
My personal insurance doesn't cover doctor's visits and the like though. I pay around RM510 every 3 months, which is perhaps USD150?
It's nice to have, and I have an option to cash out at 45 (am 25 now).
I live in France, and I agree, health cover in the US is sky high. I am covered through my husband's insurance. We pay less than €30 each per month and are covered for most care (incl. hospital treatment). We are going to bump it up to €45 each next month, and we'll be covered for everything, incl. all dental work and eye care.
I'm really grateful that we can get such good healthcare so cheaply. $200 takes quite a chunk out of your take-home pay doesn't it?
I have insurance and would never go without it. I have a high deductible policy, $5000 to cover emergencies, with the deductible saved in my emergency savings account. It costs me about $110/month and I wouldn't go without it. Imagine getting something serious like cancer and not having insurance!
I found my plan (a Blue Cross Plan) by going to an online insurance comparison site. It covers all annual or standard tests like mammograms 100% and it covers everything after my deductible 100%. What's my point? There are plans out there to fit your needs!
Health insurance is one of those things that is only cheap when you don't need it.
I have Medicaid due to my disability. It pays very little for each visit. The prescription drug plan is designed to place most of the cost of medication on the person.
According to a study done at Harvard Medical School, 60% of the people who declare bankruptcy each year are pushed there by medical costs.
Medical insurance is great, as long as you never use it.
I pray Obama and congress pass health reform soon...
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