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Insurance Costs for the self-employed

I understand, a ton of variables here. But, for the self employed, what is the average one would expect to pay for insurance coverage for myself, spouse and 1 child?

Steve
Monday, April 05, 2004

Crap, sorry for not googling earlier:
https://www.ehealthinsurance.com

Seems to provide quotes . . . so, let me rephrase the question . . . how realistic do these quotes seem to those in this situation?

Steve
Monday, April 05, 2004

Are you talking about life insurance, household insurance, car insurance, public liability insurance for your business or professional indemnity insurance for your business?

JM
Monday, April 05, 2004

Yes, he's talking about liability insurance for his child. Obviously he means private health insurance.

For a younger person such as myself, with no medical problems, it's a couple hundred a month. You'll have to talk to your insurance company to find out for yourself.

Of course, the best option is to get on your wife's plan if she has a job that provides insurance.

Hey hey
Monday, April 05, 2004

Insurance should be around USD$250 to USD$600 per adult. Families may have discounts. The same goes for Canadians (but a little tiny bit less).

Li-fan Chen
Monday, April 05, 2004

Li Fan's estimates seem about right to me.  We paid about $700/month in Oregon and about $450 a month here in Virginia for the family (with 3 kids).

BTW, biggest risk is that you are not in a POOL. So, if you have a lot of claims you run the RISK that your rates will go up or that you *might* even not have your policy renewed. Might want to check that.

This is actually IMHO a big problem for the self employed. WE aren't lumped in with a bigger group. ANd if you're really sick and try to CHANGE health insurance, you probably won't be accepted.  Health insurance is a business and they'll cherry pick only the healthiest customers.

If you're in a POOL, say working for IBM, then your rates get averaged with everyone elses.

But even with that disadvantage, I'd never go back to work FOR anyone else. Possibly WITH someone else.

VB6 User *considering* Delphi
Monday, April 05, 2004

Check with your local chamber of commerce. Sometimes, small business and self-employed can get group rate insurance through them.

sgf
Monday, April 05, 2004

I was able to get pretty good group health insurance through a broker for my corporation of one.  He was able to find a group that specialized in high-tech business health insurance, and my rates were about the same (within about $10) as my costs as an employee.

When I later became an employee, my health care insurance premiums costs actually _increased_ while my coverage decreased.

Karl Perry
Monday, April 05, 2004


I pay around $600/month for health insurance for myself, wife and a child. (Texas) After hearing some horror stories from other friends, I feel good about that rate.

Mark Hoffman
Monday, April 05, 2004

---"But, for the self employed, what is the average one would expect to pay for insurance coverage for myself, spouse and 1 child?"-----

Just a minor quibble, but sometimes it helps if you state what country you're in.

Stephen Jones
Monday, April 05, 2004


"Just a minor quibble, but sometimes it helps if you state what country you're in. "

Just a minor quibble, but it's easy to assume he is in the US.

Most folks that aren't in the US will state as much, while most Yanks just assume their audience is other Yanks.

Not me
Monday, April 05, 2004

Thanks for the very good advice . . . for those that are well normalized and that's conflicting w/ their advice, I'm:

- US
- Looking for health insurance quotes

Steve
Monday, April 05, 2004

I recently had health insurance through The Alliance for Affordable Services (http://www.affordableservices.org/). They specialise in insurance and other services for the self employed. It worked out pretty well for me; and I recall it was really reasonable compared to other options.

Jeff Watkins
Monday, April 05, 2004

Get catastrophic insurance if a normal policy is too expensive.  You'll pay out of pocket up to the first $5-$10K of expenses per year (depending on the specific policy), but your premium will probably be less than $100 per month if you're reasonably healthy.

T. Norman
Monday, April 05, 2004

We checked all around and ended up going through eHealthInsurance.com. My wife and I are both around 30 and healthy, so we just need a major medical plan. We pay $130/mo. for a plan with 100% coverage after a $5,000/year deductible. In our first year our medical expenses totaled $400, so I'd say that this was definitely the right choice for us. With a child things may be different, but be sure to run the deductible/premium calculations.

JWA
Monday, April 05, 2004

That $130 was for each of you or for both combined?

NoName
Monday, April 05, 2004

Professional organizations, such as ACM and IEEE, have group health insurance available to members.  Check their web sites for rates.

mackinac
Monday, April 05, 2004

NoName - It's $130 for both of us. It actually just went up, or first year rate was $108 for both of us. I also forgot to mention that this plan has a $10 office visit copay, which is good. No prescription coverage other than a discount card at major chains.

JWA
Tuesday, April 06, 2004

The people that read this forum are the most informed, educated and downright sensible people on the planet . . . thanks to all for their advice, i've got some solid notes (in case someone was also following along):

- check out professional organizations (your local chamber); they may offer group plans
- be sure to always compare premium/deductible costs to ensure that high premium "makes sense"
- be aware plans can "cancel" you after you actually use them; making it difficult to get another plan due to pre-existing condition
- http://www.eHealthInsurance.com
- http://www.affordableservices.org/

Steve
Tuesday, April 06, 2004

My wife and I are covered PPO for $190/mo total.  Deductibles ~= $5000.  Had to join www.nfib.com to get it.


Tuesday, April 06, 2004

Wow. People in the US can pay $600 a month for health insurance??? Can somebody remind me about this next time I'm whinging about the size of my National Insurance "contribution"?

SteveM
Wednesday, April 07, 2004

If car insurance was like health insurance we'd be paying $200 for an oil change.

Get a catastrophic coverage policy and pay the rest (annual checkups, teeth cleanings, blah blah blah) as you go.

apw
Wednesday, April 07, 2004

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