Buying Health Insurance - Electrician Talk - Professional Electrical Contractors Forum
CLICK HERE AND JOIN OUR COMMUNITY TODAY, IT'S FREE!
Go Back   Electrician Talk - Professional Electrical Contractors Forum > Business > Business, Marketing, and Sales


Like Tree4Likes
Reply
 
Thread Tools Display Modes
Old 05-18-2016, 07:17 PM   #1
Mensa Player
 
HackWork's Avatar
 
Join Date: Oct 2009
Location: -
Posts: 33,798
Rewards Points: 769
Default Buying Health Insurance

My medical insurance is due to expire and I need to purchase my own.

I own a small contracting company, I am the only (on the books) employee.

Should I get insurance for just myself or try to get it thru my company?

When it asks for household income, do I just use whatever amount my accountant used for me to pay taxes on last year?

I'm sure many of you have been thru this already.
HackWork is online now   Reply With Quote
Join Contractor Talk

Join the #1 Electrician Forum Today - It's Totally Free!

ElectricianTalk.com - Are you a Professional Electrical Contractor? If so we invite you to join our community and see what it has to offer. Our site is specifically designed for you and it's the leading place for electricians to meet online. No homeowners asking DIY questions. Just fellow tradesmen who enjoy talking about their business, their trade, and anything else that comes up. No matter what your specialty is you'll find that ElectricianTalk.com is a great community to join. Best of all it's totally free!

Join ElectricianTalk.com - Click Here JOIN FOR FREE


Warning: The topics covered on this site include activities in which there exists the potential for serious injury or death. ElectricianTalk.com DOES NOT guarantee the accuracy or completeness of any information contained on this site. Always use proper safety precaution and reference reliable outside sources before attempting any construction or remodeling task!

Sponsored Links
Advertisement
 
Old 05-18-2016, 07:29 PM   #2
Ditch Digging Dummy
 
3D Electric's Avatar
 
Join Date: Mar 2013
Location: Wichita Kansas
Posts: 1,860
Rewards Points: 52
Default

By yourself definitely hax. If you go through your company you will be subject to the obamacare rules. It's cheaper by far to get it yourself and not have to pay the fees.
3D Electric is offline   Reply With Quote
The Following User Says Thank You to 3D Electric For This Useful Post:
Old 05-18-2016, 07:53 PM   #3
Ditch Digging Dummy
 
3D Electric's Avatar
 
Join Date: Mar 2013
Location: Wichita Kansas
Posts: 1,860
Rewards Points: 52
Default

Hope this helps.
Attached Thumbnails
Buying Health Insurance-1463615574714.jpg  

Buying Health Insurance-1463615620816.jpg  

3D Electric is offline   Reply With Quote
Sponsored Links
Advertisement
 
Old 05-18-2016, 07:59 PM   #4
Senior Member
 
backstay's Avatar
 
Join Date: Feb 2011
Location: mn
Posts: 12,376
Rewards Points: 296
Default

What age did you enter to get that price? Mine is 3 times that price for a $5000 deduct.
backstay is offline   Reply With Quote
Old 05-18-2016, 08:00 PM   #5
Mensa Player
 
HackWork's Avatar
 
Join Date: Oct 2009
Location: -
Posts: 33,798
Rewards Points: 769
Default

Thanks 3D. That is very cheap. Do you have any co-pay?
HackWork is online now   Reply With Quote
Old 05-18-2016, 08:01 PM   #6
Ditch Digging Dummy
 
3D Electric's Avatar
 
Join Date: Mar 2013
Location: Wichita Kansas
Posts: 1,860
Rewards Points: 52
Default

I input no information so it would be on the high end. Kansas has a lower cost of living so the pricing here is lower than other places.
3D Electric is offline   Reply With Quote
Old 05-18-2016, 08:24 PM   #7
Senior Member
 
backstay's Avatar
 
Join Date: Feb 2011
Location: mn
Posts: 12,376
Rewards Points: 296
Default

Quote:
Originally Posted by 3D Electric View Post
I input no information so it would be on the high end. Kansas has a lower cost of living so the pricing here is lower than other places.
You can't get a price in MN without inputing all your info. Without anything to compare against, your price is worthless. Mine runs almost $700 my wife's is almost $600. That's for $5000 deduct each. Prior to the ACA, it was under $300.
backstay is offline   Reply With Quote
Old 05-18-2016, 08:24 PM   #8
Retired Account
 
Join Date: Mar 2011
Location: the Green Mountain state
Posts: 39,722
Rewards Points: 14,650
Default

one word.......'preexisting'........~CS~
chicken steve is offline   Reply With Quote
Old 05-18-2016, 08:25 PM   #9
Mensa Player
 
HackWork's Avatar
 
Join Date: Oct 2009
Location: -
Posts: 33,798
Rewards Points: 769
Default

Quote:
Originally Posted by chicken steve View Post
one word.......'preexisting'........~CS~
What about it?
HackWork is online now   Reply With Quote
Old 05-18-2016, 09:33 PM   #10
Ditch Digging Dummy
 
3D Electric's Avatar
 
Join Date: Mar 2013
Location: Wichita Kansas
Posts: 1,860
Rewards Points: 52
Default

Quote:
Originally Posted by backstay View Post
You can't get a price in MN without inputing all your info. Without anything to compare against, your price is worthless. Mine runs almost $700 my wife's is almost $600. That's for $5000 deduct each. Prior to the ACA, it was under $300.
Go on health care. Gov and input the zip code 67219. Then input your health info and post it. It could be significantly cheaper being in a different location.
3D Electric is offline   Reply With Quote
Old 05-19-2016, 04:14 PM   #11
Senior Member
 
Switched's Avatar
 
Join Date: Dec 2012
Location: California
Posts: 6,115
Rewards Points: 8,958
Default

If you don't have any employees chances are you can't run it through your business. Typically you need 2 employees.

I am a solo shop and I pay $1300.00 for a family of 5..... And it's crap insurance. Before ACA I paid $650 for the same insurance.
backstay and CT Tom like this.
Switched is offline   Reply With Quote
Old 05-19-2016, 04:39 PM   #12
Old Grumpy Bastard
 
MechanicalDVR's Avatar
 
Join Date: Dec 2007
Location: "Old Dominion"
Posts: 59,570
Rewards Points: 1,552
Default

So glad that ACA took effect.
InPhase277 likes this.
__________________
I'm as Christian as possible in the times we live in.

Always just a stallion in a china shop
MechanicalDVR is offline   Reply With Quote
Old 05-19-2016, 04:45 PM   #13
Mensa Player
 
HackWork's Avatar
 
Join Date: Oct 2009
Location: -
Posts: 33,798
Rewards Points: 769
Default

Quote:
Originally Posted by MechanicalDVR View Post
So glad that ACA took effect.
I am. Without the ACA I would be paying thousands per month if I could even find coverage.
CT Tom likes this.
HackWork is online now   Reply With Quote
Old 05-19-2016, 06:22 PM   #14
Senior Member
 
backstay's Avatar
 
Join Date: Feb 2011
Location: mn
Posts: 12,376
Rewards Points: 296
Default

Quote:
Originally Posted by 3D Electric View Post
Go on health care. Gov and input the zip code 67219. Then input your health info and post it. It could be significantly cheaper being in a different location.
Your talking about subsidized insurance. I'll skip the welfare, thank you.
backstay is offline   Reply With Quote
Old 05-19-2016, 08:55 PM   #15
Ditch Digging Dummy
 
3D Electric's Avatar
 
Join Date: Mar 2013
Location: Wichita Kansas
Posts: 1,860
Rewards Points: 52
Default

Quote:
Originally Posted by backstay View Post
Your talking about subsidized insurance. I'll skip the welfare, thank you.
That I don't know. My wife works for Via Christi hospitals and she has unbelievable insurance for all of us. No co-pays, 2500 deductible. It's fantastic! We didn't have insurance for years and I always dreaded when the kids would get sick but we just paid out of pocket. Still ended up cheaper than the premium payments though.
3D Electric is offline   Reply With Quote
Old 05-20-2016, 08:00 AM   #16
Conduit Extraordinare
 
mdfriday's Avatar
 
Join Date: May 2007
Location: Chicago Suburbia
Posts: 2,360
Rewards Points: 1,510
Default

Quote:
Originally Posted by 3D Electric View Post
Go on health care. Gov and input the zip code 67219. Then input your health info and post it. It could be significantly cheaper being in a different location.
....that is obama care.
We went the independent route with an agent. the plans still had to conform. it became to large a burden..... $ ..... so we scraped it this year.
mdfriday is offline   Reply With Quote
Old 05-20-2016, 08:26 AM   #17
Mensa Player
 
HackWork's Avatar
 
Join Date: Oct 2009
Location: -
Posts: 33,798
Rewards Points: 769
Default

I go to Sloan Kettering which does not accept any of the Obamacare subsidized plans so even if I was eligible I still wouldn't get one.

Currently the plan that I am on and is expiring is my union plan that uses Horizon Blue Cross Blue Shield (Horizon is NJ's version of BCBS) network, which covers what I need. So I am going to try to get insurance from them. I entered info and am waiting for them to call me.

There are so many plans that differ in small ways. I believe that I should go for one of the low out of pocket plans, even if the premium is high, because I know I will be using the insurance.

This year I will need at least 2 CT scans @ $4,000 each, 4 chest X-rays (I forget what they cost), and 4 sets of blood work @ almost $2,000. Plus whatever the oncologist and radiologists charges. Then I will need 12 Pro-Time tests for the blood thinners and 2 visits to the cardiologist.

So since I know that I am definitely going to be using a lot of healthcare, unlike other people who don't know if they will ever see a doctor in the next year, should I get a certain plan?
HackWork is online now   Reply With Quote
Old 05-20-2016, 08:26 AM   #18
Mensa Player
 
HackWork's Avatar
 
Join Date: Oct 2009
Location: -
Posts: 33,798
Rewards Points: 769
Default

Quote:
Originally Posted by mdfriday View Post
....that is obama care.
We went the independent route with an agent. the plans still had to conform. it became to large a burden..... $ ..... so we scraped it this year.
You scraped what? You didn't get insurance at all? If so, now you have to pay a penalty?
HackWork is online now   Reply With Quote
Old 05-20-2016, 04:43 PM   #19
Member
 
Join Date: Dec 2011
Location: Ga
Posts: 41
Rewards Points: 45
Default

After 25 years of providing coverage for us & employees, we dropped our company group policy year before last because of Obama care premium increases. I am 59 & my wife is 55 & here is what we pay now:

Me: bronze plan, $6000 deductible, $7500 max out of pocket costs me $556 per month. I pay for EVERYTHING including drugs up to $6000 & at that point I still pay for most things until it reaches the $7500 max out of pocket.

Wife: silver plan, $3500 deductible, $6000 max out of pocket is $711 per month. Her's pays for many generic drugs with a $15 copay & pays for Dr visits with copays. Copays for other things are expensive.

Last year I spent $18000 in premiums & medical expenses & I'm expecting to spend $25,000 this year. This is why I can't retire any time soon.
Businessman01 is offline   Reply With Quote
The Following User Says Thank You to Businessman01 For This Useful Post:
backstay (05-24-2016)
Old 05-20-2016, 04:51 PM   #20
Mensa Player
 
HackWork's Avatar
 
Join Date: Oct 2009
Location: -
Posts: 33,798
Rewards Points: 769
Default

Quote:
Originally Posted by Businessman01 View Post
After 25 years of providing coverage for us & employees, we dropped our company group policy year before last because of Obama care premium increases. I am 59 & my wife is 55 & here is what we pay now:

Me: bronze plan, $6000 deductible, $7500 max out of pocket costs me $556 per month. I pay for EVERYTHING including drugs up to $6000 & at that point I still pay for most things until it reaches the $7500 max out of pocket.

Wife: silver plan, $3500 deductible, $6000 max out of pocket is $711 per month. Her's pays for many generic drugs with a $15 copay & pays for Dr visits with copays. Copays for other things are expensive.

Last year I spent $18000 in premiums & medical expenses & I'm expecting to spend $25,000 this year. This is why I can't retire any time soon.
Adding up all the info you gave, you can spend up to $28,000 or so before the max out of pocket kicks in and you don't have to pay anymore (for in network stuff).

Scary.
HackWork is online now   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
General Liability Insurance (Electrical Contractor) B52ian Business, Marketing, and Sales 1 05-12-2016 01:50 PM
Have you ever fought a claim for unemployment insurance? Cricket Business, Marketing, and Sales 13 05-11-2016 09:08 PM
Insurance company KyleG87 Services and Service Equipment 11 05-10-2016 05:27 PM
how much for the electrical company's insurance cost per year (in Ontario,Canada)? mike883 General Electrical Discussion 1 05-08-2016 10:57 PM
Commercial insurance NDC Business, Marketing, and Sales 4 01-12-2016 05:51 PM


All times are GMT -4. The time now is 09:44 PM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.1
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
User Alert System provided by Advanced User Tagging (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
Our Pro Sites Network
ContractorTalk.com | DrywallTalk.com | HVACSite.com | PaintTalk.com | PlumbingZone.com | RoofingTalk.com