I`m looking for some input on health insurance plans. What companies are you guys with and what are the costs? I`m a self employed builder, married with a baby on the way. Currently we are under my wifes insurance plan through her job. She may not go back to work for a while so I`m trying to find out some options. Thanks in advance.Cheers!
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Betcha
Funny you should post this today.Iwas gonna!
I even joined my town hall to get a better plan but nothing comes in under EIGHT THOUSAND + dollars a year. Buncha crap if you ask me. A family of ten costs the same as a family of two. whats up with dat?
I use HIP which is one of the biggest in the North East besides Blue Cross Blue Shield. Cant even use your own doctors and it barely covers eyes or teeth.
Be not sick
Namaste
Andy
"Attachment is the strongest block to realization"
http://CLIFFORDRENOVATIONS.COM
Andy, Crazy $$$$!!, Whats HIP? Does the dental cover yearly cleanings? Does the eye cover yearly exams?
Betcha
as you can see from the rest of the posts most everyone is paying what I am.
Dental cleaning? Big deal...thats the least of it !
Its deductable yup....again,big deal
Be "well" or/and have insurance
Namaste
Andy"Attachment is the strongest block to realization"http://CLIFFORDRENOVATIONS.COM
Gentle people weclome to the main issuse of the next prezidental election!I have post this very question before it went for weeks. Simple answer you pay for what you get and the more you pay the more you get .... one problem who can affor 4-800 bucks a month we have had to drop coverage all together it can't even cove me right now! Self employment can bite. Trust me in michigan I have shopped everything med savings plans hight dedud ect... there is no affordable care out there nase, farm beur, chamber commerice, hba , I could go on I litteraly for hours, I spent weeks on this one. it will take an act of congress on a higher power to get it affordable. But the good news is it should be warmer next week.
Are you able to deduct any of it on your taxes?.....Yeah warm in Maine also. Maybe even 20 degrees! It`ll feel like spring.
deduct all of it this year ...far as i know....Mike Smith Rhode Island : Design / Build / Repair / Restore
I'm under an HMO plan from AETNA and it ain't cheap. Just under $850 a month guaranteed to increase a bunch every year, of course. Our agent said, "Just wait until you turn 60 if you think that's bad." (I'm 57 now). The plan is for businesses, including one man bands, and must be paid from a business account.
This year, the health insurance is 70% deductible, on Schedule C, as an expense. The remaining 30% goes under medical expenses on Schedule A, subject to the 7.5% rule. Next year the health expense on Schedule C goes to 100%.
This covers my wife and me. If I had employees I would be required to offer them the same plan but I could determine what the employee co-pay would be. The employee expense has always been 100% deductible.
We have BCBS of NC. It just went up big time. We were paying $480.00 had copay etc. Ded. for hospital was 1,000.00 dollars. Switched to $2,500.00 ded. higher copays and 457.00 if we would have stayed with the other plan it would have been $550.00. Covers the whole family (two adults and three kids) no pregnancy or dental coverage.
The insurance I hate to find info. on is WC. With three full time one part time and subs (that don't carry WC) we are easily looking at well over $15,000.00 + We are a small company and to some here that is pocket change I know, but to us that is a huge overhead (yes I know one that we can't afford to do without in the long run. We are joining with other contractors in a new organization. This way when there are 100 members we can look at some breaks.
Oh we looked at getting a company plan for health insurance for us and our guys. The same plan that I explained in the beginning would go up to $750.00 if we were in a group plan. That doesn't make sense to me.
Good luck!Tamara
Hi. I am paying $850/mo. for a family plan in Ma. My business is a partnership and my partner and I each pay for our own insurance. How much of the $10,200.00 is tax deductable for a self-employed person ?
I believe that the deduct this year is 70% and it will go to 100% next year.
far as i know.. 70% for 2002 for self-employed... ( 100% if you are incorporated )..
.going to 100 % for self employed next year ( this year actually 2003)Mike Smith Rhode Island : Design / Build / Repair / Restore
I have KC/BS with $2,500 deductible, max out of pock $4,500. Doctors co-pay is $30 at a prefered provider. Mo presciption coverage, but I do get a discount card.
I am 59 and pay $140.
Will be switching to the wife's work plan as of Feb 1....but had my own all last year.
Looked thru every option......best rate was thru the Greater Pgh Chamber of Commerce. I had about 4 builders groups and 3 chambers to choose from.
The big one..the Greater Pgh..was the best bet. Got an Associates Membership for $180/yr.
Good family plan thru Highmark Blue Cross/Blus Shield ran $530/month. Payable a month in advance.
Needed solid plan as the kid's just over a year old...and if I couldn't provide top notch medical for him on my own...I'd go work for a company that would.
As it was......no problem meeting the +$500 monthly. This was in a group plan..so no testing or pre-existing conditions to worry about. We could have gone lower ..closer to $400...but I wasn't talking the kid to the clinic to wait in line forever.
I say not a bad deal at all. If it's unaffordable....either charge more and run a real business or do your family right and go work somewhere that provides.
It'll be 70% deductable as it's thru the group plan. Going individual would have saved maybe $100/month.....but would have been conditional..and would not have been deductable. The packages with co pays and deductables weren't as good either.
This year..the math said to take it thru the wife's new job. But after paying over $500......we're going with their top level.....and not even thinking about it twice. It'll be about $160 out of pocket/monthly. Not sure yet if the accountant will be able to make any of that tax deductable.
Jeff Buck Construction Pittsburgh,PA
Fine Carpentery.....While U Waite
Great plan here. Local Hospital has hmo. 167 per mo. for a single person. $10 drs visits, $10 perscription drugs.
I am paying about what Jeff Buck is on a "group plan" offered through the local builders exchange. Roughly $500/month and $10 copay for an HMO for a family of three. I know this will go up as I age but I agree with Jeff when he says:
"I say not a bad deal at all. If it's unaffordable....either charge more and run a real business or do your family right and go work somewhere that provides."
If you are already charging top dollar and can't raise your rates, prioritize your expenses and cut back on the luxuries like car payments, cable tv, etc. If you are struggling so hard financially that you have already done that there are usually govt. health plans for the poor.
I hate making the payments and I feel like I am the "working poor" when I send in the check but when I compare my life to that of 95% of the world I am not about to complain.
Karl