Buying Private Health Insurance

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TRyan
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Buying Private Health Insurance

Post by TRyan »

I tried one of the on-line insurance quotes in the referenced article and learned that the BEST I can do to insure a family of 4 in MA is $1500/month. OUCH! ... Like having a mortgage payment that NEVER goes away.


http://smartmoney.com/consumer/index.cfm?story=20030929


Here's what you have to look forward to: steep monthly premiums, higher copayments, outrageous deductibles and fewer benefits. Moreover, the process can be tedious and downright confusing - which helps explain why there are some 65 million America under age 65 who went at least six months without coverage during the past year.
"Buy Low Sell High"
MaiPenRai
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Post by MaiPenRai »

and heaven forbid you've got a pre-existing, it'd be an anchor on fire plans
wanderer
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Post by wanderer »

i found this online

http://www.integraglobal.com/browsing.jsp .

Seems a little high. You can compare US/ex-US. Noit as much difference as I thought.
regards,

wanderer

The field has eyes / the wood has ears / I will see / be silent and hear
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ben
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Post by ben »

For thrill go to www.goodhealthworldwide.com and type in your details. Note that even the cheapest insurance they have cover EMERGENCY and the emergency related in-patient treatment in USA - and you can add cover that brings you to the USA for treatment should you want.

So moving abroad and arranging for own international health insurance is another option if one should like stuff like that :wink:

In my case (single/34 years/based asia/in-patient+day patient only/USD 1000 deductable) it is about USD 600/year.
Normal; to put on clothes bought for work, go to work in car bought to get to work needed to pay for the clothes, the car and the home left empty all day in order to afford to live in it...
caseynshan
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Post by caseynshan »

I self insure my wife and kids through Kaiser Permanente HMO. It is about $405 per month for wife and 2 young kids. (It was $380 until the wife hit the big 40). We are very happy with our coverage. (My wife did work for Kaiser at one time, so we probably know the system better than average)

Coverage for equivalent coverage from Great West through my employer is about $760 a month
only available in CA ,OR, CO, GA, VA, MD, DC, OH I believe....
www.kaiserpermanenete.org

Casey

PS. Save the greedy HMO rant, Kaiser is non-profit.
wanderer
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Post by wanderer »

In my case (single/34 years/based asia/in-patient+day patient only/USD 1000 deductable) it is about USD 600/year.

owie owie owie: apparently there's something abt being married/43 yrs/based in the RP [we should probably add these abbreviations to the FAQ, ataloss]/USD 5000 deductible/US cover/evacuate that it doesn't like. $4,572 for foundation plan. when we drop the us cover and evacuate: hello $1,760!

everything looks better in euros.
regards,

wanderer

The field has eyes / the wood has ears / I will see / be silent and hear
caseynshan
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Post by caseynshan »

I just got my 2004 Kaiser Info,

Wanderer - FYI - for a 43 old single male HMO is 220.00 a month (drops to 166.00 if you drop maternity and prescription drug coverage)

If anyone else is curious just tell me you age and family status and I will tell you their rates...

Casey "bigtime comparison shopper"
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ataloss
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Post by ataloss »

probably wanderer can pay for insurance for the gardner and maid with his personal savings in RP :wink:
Have fun.

Ataloss
Kramer
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Post by Kramer »

caseynshan wrote:

I just got my 2004 Kaiser Info,

Wanderer - FYI - for a 43 old single male HMO is 220.00 a month (drops to 166.00 if you drop maternity and prescription drug coverage)


Thanks for the detail, Caseynshan. Just curious, do you put this under your business, or are you and your family just in the random pool for Kaiser? (I am assuming former employment there does not affect your current rates).

My dad was virtually uninsurable, because he had had cancer at age 37, and later had to have his hips replaced. But he got group coverage for his tax and accounting business, that has a minimum of 2 enrollees, for him and my mother. It wasn't cheap, and the rates steadily have gone up faster than inflation, but it seemed fair, given his condition.

Kramer
caseynshan
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Post by caseynshan »

We are just in the random pool (I assume they only accept healthy folks)
Which is one reason that it probably is half the price of my employers group plan...

We are planning to run the expenses through my wifes self-employed business for taxes, but we did not buy it as a company.

Casey
TRyan
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Post by TRyan »

... and keeping the plan at work is no picnic. Earlier this year my company dropped a "free" life insurance coverage (2x's salary) and increased the co-pay (30%) and employee contribution (10%). And it looks like things will only get worst ....

http://cbs.marketwatch.com/news/story.a ... iteid=mktw

The cost of medical benefits is expected to rise 12 percent or more next year. At that pace, benefits costs will have doubled since 1999. Having already passed on deep cost cuts to doctors, hospitals and HMOs, now employers will continue to push more benefits costs on to their employees.
"Buy Low Sell High"
TRyan
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Post by TRyan »

... and do your homework to know who to trust ...

http://moneycentral.msn.com/content/Ins ... 961#Rating


Thousands left without coverage
Among the findings: Since 2001, four unauthorized plans have left nearly 100,000 people with approximately $85 million in unpaid medical debts and without health coverage. The study was commissioned by the Commonwealth Fund, a private foundation supporting independent research on health and social issues.

Typically, scam health plans proliferate when insurance premiums are rising, prompting people to look for less expensive alternatives. "These people can sell their plans because the market is seeking cheaper forms of coverage," says Miller.
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ataloss
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Post by ataloss »

buying from a know company would appear to be a good start

btw, can you get Golden Rule in MA?
Have fun.

Ataloss
TRyan
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Post by TRyan »

Golden Rule is not available to us in MA. The only "golden rule" I know is that the one with the gold makes the rules. :P

But help may be on the way for all (see below) in the form of Medical Savings Accounts (MSA) ... except the plan is set to expire in December 2003.

http://moneycentral.msn.com/content/Ins ... 610#Rating

Why you don't hear about these accounts?
In a word, politics. Congress started the program and capped the allowable total enrollment at 750,000. Fewer than 200,000 Americans are actually enrolled in plans
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ataloss
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Post by ataloss »

Golden rule is supposed to be pretty good although some people don't like their approach. Apparently if you lie about your health on the application they will strongly seek to deny claims (I think they also try to limit exposure to mental health and some other types of costs- not always considered pc :wink:)
Have fun.

Ataloss
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BenSolar
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Post by BenSolar »

Kramer wrote: My dad was virtually uninsurable, because he had had cancer at age 37, and later had to have his hips replaced. But he got group coverage for his tax and accounting business, that has a minimum of 2 enrollees, for him and my mother. It wasn't cheap, and the rates steadily have gone up faster than inflation, but it seemed fair, given his condition.


This issue has been on my mind a lot lately. My wife has been hit with some chronic illnesses over the last few years with lots of trips to specialists. Makes me think getting insurance on our own will be next to impossible. I'm hoping that maybe I can rejoin the Realtors or some other such group and get insurance that way when I'm ready to leave the current nest.

Hope your dad is doing well now, Kramer.
"Do not spoil what you have by desiring what you have not; remember that what you now have was once among the things only hoped for." - Epicurus
TRyan
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Post by TRyan »

Has me thinking the sooner (i.e. healthier) you switch to self insured the better you are in the long run ... certainly supports the FIRE philosophy.
"Buy Low Sell High"
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