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Health Insurance

Discussion in 'Business Operations' started by larryinalabama, Jun 5, 2008.

  1. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,990

    I found a policy that has a 7500 dectuable, I know thats high but it pays 100% after the dectuable is met. The good side is that it is only 153$ per month to cover me and the family. To replace the policy I have at work would cost me near 900$ per month.
    What do you fellers think, insurance is one of my big hurdles to conquer is this a good solution?
  2. Den69RS96

    Den69RS96 LawnSite Member
    Posts: 96

    Seems like that plan is designed to cover major medical procedures and you pay for all the routine stuff. Still better than $900 a month. I'd check to see if you can go anywhere you want and if you use a participating doctors that they have much lower fees.

    I work for a health insurance co and more and more plans that we offer have high deductibles or are healthfund type plans. The healthfund is where they give you say 1000 per family to use as you want. You can use it towards your deductible, pharmacy cost etc. However you have deductible and once thats met you pay your coinsurance. This is going to be more and more common. Everyone hated hmo's because they didn't like being told where to go, get this authorized etc. I agree there was way to much red tape and denied claims and they needed to go. Now health insurance plans decided to give the flexibility back to the member. You can go where you want when you want, but wth healthcare cost skyrocketing, these plans are designed to let the members know how much healthcare really cost. The idea is to have people go to the doctor when its necessary because they will be paying part of the visit or in your case all of the visit until the deductible is met. They get people to think twice about going to the doctor when they have a runny nose. These healthfund plans allow your employers to still offer healthcare and not bankrupt them because the premiums per month are significantly lower than traditional plans.

    Most people don't realize that your employer selects the plans and what they will cover. Insurance co's look at the risk and offer a few different plans and what they will cost. Some companies tell the insurance co's what they want covered and just ask for the cost. Your employer selects the plan they want. Some employers eat most of the premium so you don't have too, others not so much. I pay around 350 a month for my plan to cover my family and I know I'm only paying 20% of the actual premium.
  3. bohiaa

    bohiaa LawnSite Fanatic
    Posts: 5,220

    Insurance needs to be taylored to YOR NEEDS....

    only you know your medical history and your familys....

    For myself, I rarey go to the doctor, so I seek out a very high deductable. around 1,000.00 this puts my monthly payments down to almost nothing...

    If you "or a family member" go to the doctor a lot this would NOT be an option for you.

    Good Luck
  4. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,990

    Thanks for the reply, I think the policy is a "network", but it looks like all the doctors and hospitals are in it in my aera.
    The big downfall is that the 7500 dectuable applys to each person, but does have a max 2 people. In other words if 2 family members had serious problems in the same year I would be out 15000$. On the otherhand if I bought a good policy for 1000 per month I would be out 12000 guaranteed.
  5. IN2MOWN

    IN2MOWN LawnSite Platinum Member
    Posts: 4,993

    Try Conventry and get on a group plan. I pay about $520 a month for myself, wife, and 2 kids.

    You have to be an LLC or INC but its a good plan.
  6. johnnywill08

    johnnywill08 LawnSite Senior Member
    from MA z6
    Posts: 372

    i'll say this for massachusetts, we have pretty good insurance avail to us here thru the state. it's not state sponsored (like a welfare program) but actual good health care, slightly higher deduxctables than if a got it thru a 'real job", but good care for about $500/month for me and my wife..... write your congressman and tell em what you think......
  7. Lawnworks

    Lawnworks LawnSite Fanatic
    from usa
    Posts: 5,407

    If are in good health and rarely go to the doctor and have over 30-50k in the bank... might be a good deal for you... high monthly premium insurance can be a rip-off if you don't use it.
  8. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,990

    Thanks for the replys keep them coming
  9. Charles

    Charles Moderator Staff Member
    Posts: 7,879

    $7500 deductable? You can probably do better than that. Do you have a good credit history? Non smoker? Good health history/physical? 40s? If so then you should be able to get $1500 deductable with 150 something payments
  10. larryinalabama

    larryinalabama LawnSite Fanatic
    Posts: 16,990

    Im 43 and have a wife and 2 kids. My credit score sucks because I dont borrow money. I dont think it matters for insurance purposes anyway. Non smoker and I hardly ever go to the doctor. Being 43 is the big kicker.

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