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Difference in insurance being retired v.s. self employed
Old 05-23-2007, 10:26 PM   #1
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Difference in insurance being retired v.s. self employed

Does anyone know whether it makes any difference being retired v.s. self employed when applying for health insurance?
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Old 05-24-2007, 05:39 AM   #2
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Think it depends on the state...in my state, with BC.BS, as a self-employed person I can get a one person(family) "group" at the group rates...same coverage in the open market would cost a lot more. That why even though I haven't worked in 5 years I still pay for BC out of my corp. Your state may have different rules.
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Old 05-24-2007, 08:43 AM   #3
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Please elaborate. Is your company offering you retirement benefits? Depending on your state, you may be eligible for guaranteed "group of one" coverage for you and your family as a self-employed individual. Rates would be similar to those in an employer-sponsored plan.

If you don't have retirement benefits, and if you and your family is in good health, you might be able to get much lower rates in the individual/family market than you could in the "group of one" market.
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Cobra is available
Old 05-24-2007, 04:40 PM   #4
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Cobra is available

My current company will only offer Cobra (at a decent price), but many have advised me not to take it. So I am investigating indiv insur. I think I may become self employed eventually, so just wondered if the rates are any differerent if you are retired vs self employed.
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Old 05-24-2007, 07:59 PM   #5
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Originally Posted by dcxl28 View Post
My current company will only offer Cobra (at a decent price), but many have advised me not to take it. So I am investigating indiv insur. I think I may become self employed eventually, so just wondered if the rates are any differerent if you are retired vs self employed.
Self employment rates (group of one insurance) is usually priced similarly to COBRA rates. Individual coverage will likely be much less expensive, depending on your health history.
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Old 06-03-2007, 12:46 AM   #6
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My dad (state of California) was unhealthy with a cancer history, old hip replacements, adult onset diabetes, and various other non-trivial problems, etc., and he got coverage as a self-employed in California. He also got coverage for my mom this way (who was severely overweight at that time), so I guess they applied as a group of 2. They got very good rates. In fact, my mom's current rate is basically the low rate on Kaiser's site for her age, I think (my dad has died and the business no longer exists).

Kaiser also gave my mom that optional tie your stomach procedure for obese people and her weight is about half her peak weight, she is currently just about normal weight for her height/stature. They have also provided follow up cosmetic surgery at no cost.

Kramer
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Old 06-03-2007, 01:26 AM   #7
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Anyone that lives in California know what the minimum requirements are to qualify as a 'small business' from the perspective of getting health insurance? My wife and I have some specific pre-conditions that makes individual coverage rather prohibitive (in face, impossible for maternity coverage). I can easily start up an S-corp or the like, but I'm not sure if you need to show actual income or payroll to qualify for a 'small business' rate...
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Old 06-03-2007, 02:09 AM   #8
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Anyone that lives in California know what the minimum requirements are to qualify as a 'small business' from the perspective of getting health insurance? My wife and I have some specific pre-conditions that makes individual coverage rather prohibitive (in face, impossible for maternity coverage). I can easily start up an S-corp or the like, but I'm not sure if you need to show actual income or payroll to qualify for a 'small business' rate...
When my dad did this (perhaps 6 years ago?), his group size was 2, him and my mom (who was an employee), and it was a regular, simple self-proprietership. I don't know if it was a Kaiser determined group size or if there is something in California law. But it was a real business with a long history.

For starters, I would read through those California specific laws from:

Health Insurance Consumer Guides

Kramer
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