Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Individual Health Insurance-- need advice
Old 06-16-2011, 07:49 AM   #1
Confused about dryer sheets
 
Join Date: Jun 2011
Posts: 5
Individual Health Insurance-- need advice

Hi everyone, I just found this forum today and look forward to reading the various topics.

What brought me here was a google search on early retirement and health insurance. I didn't want to end up on a company page, I want to talk to real people who have been in my shoes.

My husband has owned a small business for many years. He is 50 and I am 49. He is finally going to retire in December and we will be moving to FL. We will need to get individual health insurance because the group plan at his work can't continue due to lack of enrollment.

We are both in good health now.... but I know that could change at any time.

What companies offer decent plans for people in our age range? Our financial planner told us to make sure we have good health coverage because that is the one thing that can derail a person financially in retirement.

I'll need to switch in December when we move to FL... any suggestions?
__________________

__________________
BeeBee 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 Early-Retirement.org 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!

Old 06-16-2011, 07:59 AM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,068
Welcome. The information found here is somewhat dated due to the changing health care laws but is still a good place to start: (FAQ archive) Buying Private Health Insurance
__________________

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 06-16-2011, 08:23 AM   #3
Full time employment: Posting here.
 
Join Date: Nov 2009
Location: VA
Posts: 923
You could use the help of a good independent agent...unfortunately, there aren't many left now that commissions have been cut by 40-60% across the board post-healthcare reform. If you want to be 100% sure you can get covered, you can apply for a policy now in your state that also offers coverage in Florida and then transfer it in December, but that depends on what state you live in. I know United Health One and Humana policies are portable. The benefits might or might not be as good as the group plan you have now, but you'd be locking in your insurability. If you wait until December, there is always the chance that a change in health could make you uninsurable and cost you a lot more money in the long run.
__________________
Disclaimer - I am an independent insurance agent. If the above message contains insurance-related content, it is NOT intended as advice, and may not be accurate, applicable or sufficient depending on specific circumstances. Don't rely on it for any purpose. I do encourage you to consult an independent agent for insurance-related advice if you have a question that is specific in nature.
dgoldenz is offline   Reply With Quote
Old 06-16-2011, 10:04 AM   #4
Confused about dryer sheets
 
Join Date: Jun 2011
Posts: 5
Thank you both for responding. I will check out the thread mentioned.

My concern is probably like most, not wanting to get kicked off insurance or have rates become sky high if health issues start to come up. I had an individual Aetna policy at one time -- and I remember it was very vague about how much rates could be raised based on claim history. The policy stated that rates are subject to change based on age and claim history but never said how much.

That's where I get confused.... I don't want a company that can suddenly change our rates to something sky-high if health issues come up. I'm wondering if some companies are better than others as far as that goes.
__________________
BeeBee is offline   Reply With Quote
Old 06-16-2011, 10:14 AM   #5
Full time employment: Posting here.
 
Join Date: Nov 2009
Location: VA
Posts: 923
Quote:
Originally Posted by BeeBee View Post
Thank you both for responding. I will check out the thread mentioned.

My concern is probably like most, not wanting to get kicked off insurance or have rates become sky high if health issues start to come up. I had an individual Aetna policy at one time -- and I remember it was very vague about how much rates could be raised based on claim history. The policy stated that rates are subject to change based on age and claim history but never said how much.

That's where I get confused.... I don't want a company that can suddenly change our rates to something sky-high if health issues come up. I'm wondering if some companies are better than others as far as that goes.
Individual health insurance rates can only be raised for an entire block of business. They can't single you out for personal claims like car insurance. Martha has posted otherwise for one or two states, but I have never seen a contract with that statement.
__________________
Disclaimer - I am an independent insurance agent. If the above message contains insurance-related content, it is NOT intended as advice, and may not be accurate, applicable or sufficient depending on specific circumstances. Don't rely on it for any purpose. I do encourage you to consult an independent agent for insurance-related advice if you have a question that is specific in nature.
dgoldenz is offline   Reply With Quote
Health insurance
Old 06-16-2011, 02:56 PM   #6
Confused about dryer sheets
BonitaK's Avatar
 
Join Date: Jun 2011
Location: Spokane, WA
Posts: 2
Health insurance

The best thing would be to find a broker (one you can trust) that is licensed in Florida. Possibly you can ask your financial advisor his/her ideas on how to accomplish that. OR, call the Florida State Insurance Commissioners office and get their recommendation. Also, another thing I could do for you would be to contact a Rotary International group in the city you will be in, and I could use that resource to locate someone. Let me know if I can help further.
__________________
BonitaK is offline   Reply With Quote
Old 06-16-2011, 04:37 PM   #7
Thinks s/he gets paid by the post
walkinwood's Avatar
 
Join Date: Jul 2006
Location: Denver
Posts: 2,675
I used a health insurance broker while looking for individual insurance in Denver. Your premiums are the same if you go direct or through a broker. The broker will advise you on the best policies for your needs and guide you through the application process. I found it very useful.

Two good sites for information & ball park premium data
Health Insurance - Find Affordable Health Insurance Plans and Buy Medical Coverage Online
Health Insurance and Coverage Help for Consumers Everywhere
__________________
walkinwood is offline   Reply With Quote
Old 06-17-2011, 10:25 AM   #8
Confused about dryer sheets
 
Join Date: Jun 2011
Posts: 5
Thank you!

I'm going to look for a broker
__________________
BeeBee is offline   Reply With Quote
Old 06-17-2011, 11:36 AM   #9
Thinks s/he gets paid by the post
teejayevans's Avatar
 
Join Date: Sep 2006
Posts: 1,219
Quote:
Originally Posted by BeeBee View Post
Thank you!

I'm going to look for a broker
Couple of Florida specific links:
Florida Health Insurance | Florida Individual Health Insurance Quotes
Compare Health Plans
Florida Health Insurance | Group Health Insurance | Health Insurance Quotes

I may be in a similar situation, please post how it worked out for you...
TJ
__________________

__________________
teejayevans is offline   Reply With Quote
Reply


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


Similar Threads
Thread Thread Starter Forum Replies Last Post
Individual Health Insurance : CO, WA, OR walkinwood Health and Early Retirement 19 05-08-2011 07:44 PM
Keep my individual health insurance even though I have employer health? bikeknit Health and Early Retirement 17 05-08-2011 12:30 PM
individual health insurance choices RJ732 FIRE and Money 12 06-02-2008 09:37 AM
Applying for Individual Health Insurance WyndChym FIRE and Money 8 03-08-2006 07:06 PM
Individual Health Insurance Termination uncledrz FIRE and Money 14 04-22-2005 06:26 AM

 

 
All times are GMT -6. The time now is 12:18 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.