Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Re: Self-insurance health opinions and challenges
Old 03-05-2004, 05:02 AM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Re: Self-insurance health opinions and challenges

One last tidbit...your med insurance payments may be deductible on your tax return to the extent that it exceeds 7.5% of your adjusted gross. In my case it was.

Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Self-insurance health opinions and challenges
Old 03-09-2004, 12:37 PM   #22
Recycles dryer sheets
Join Date: Dec 2003
Posts: 405
Re: Self-insurance health opinions and challenges

So has anybody actually found an individual insurance plan that offers an HSA?
I've had an MSA since they were first introduced ... the new HSAs are basically the same deal, with less restrictive terms and conditions.

You don't have to have the insurance and the savings account under the same umbrella company. In my case, I have a Blue Cross health policy that meets the requirements, and the MSA is adminstered by Home Federal Savings. Home Federal has indicated to me that they will be doing HSAs as well, and that I can convert my MSA into an HSA.

So far, the arrangement has worked well. The BC plan gives me the negotiated rate, and doctor bills are effectively paid with pre-tax dollars.


Peter is offline   Reply With Quote
Old 05-27-2007, 06:50 PM   #23
Full time employment: Posting here.
Join Date: Dec 2006
Posts: 860
Originally Posted by unclemick View Post
I haven't had any health insurance for ten years(single). Girlfriend(thru union retirement) and widowed mom(medicare plus supplimental).

I deliberately avoid American doctors - they can get someone else to pay their med school loans - and malpractice insurance. Foreign doctors don't overtest, overconsult. and over worry as much - American doc.'s in some ways are in as bad a bind as their customers.

Age 49-60 without any insurance is pushing the envelope and I've spent $200 over the years(hairline wrist fracture).

I don't recommend my path to anyone - one more worry about systemic risk to the portfolio.

I may do some insurance shopping this yr but I think most high deductible is capped at 10k which is too low.
World Insurance has a $25 K deductible, but the cost savings, IMO really isn't that much better than the $10K ded. Also, anything over a $5250K deductible for a single person is not going to be HSA compatible.
mykidslovedogs is offline   Reply With Quote
Old 05-27-2007, 06:56 PM   #24
Full time employment: Posting here.
Join Date: Dec 2006
Posts: 860
Originally Posted by cute fuzzy bunny View Post
Couple of interesting bits:
- Rack vs insurers rates. Some doctors will charge you the same rate as BC/BS does if you ask them. You can buy these cards for a hundred bucks or so that give you a list of doctors who will do this. Better still, go to the web site for the outfits selling the cards, look up the doctors in their "provider list" and see if one of them will do the work at the lower rate without the card. Fair warning, these may not be the very best doctors.

- Regarding the deductible at rack or insurers rate. I know BC/BS in california requires the doctors provide all service at BC/BS's negotiated rate. You pay the deductible but its at the lower rate.

One question in case someone has looked into it...I've heard that their are some groups (RVers, etc) that have banded together to obtain group coverage and by paying a fee to join, you can get into their coverage. Has anyone looked into this, what coverage areas do they have, and what are the rates like?

Association plans have rates similar to that of Group Insurance. The advantage is that they are guaranteed issue. The disadvantage, like with all guaranteed issue plans, the premiums are much higher than individual coverage.

With ALL PPO plan designs, you CANNOT be "balance billed" if you use an "in-network" provider. You've got to check the doctor directory before utilizing services. If you go outside the network, the bill for the "allowed amount" appiles to the separate, "out of network" deductible, and you get "balance-billed" above and beyond what the insurance carrier will not cover.

mykidslovedogs is offline   Reply With Quote

health insurance

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
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


All times are GMT -6. The time now is 12:04 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.