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Individual Health Insurance-- need advice
06-16-2011, 06:49 AM
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#1
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Confused about dryer sheets
Join Date: Jun 2011
Posts: 5
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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?
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06-16-2011, 06:59 AM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Welcome. The information found here is somewhat dated due to the changing health care laws but is still a good place to start: http://www.early-retirement.org/foru...nce-30756.html
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Numbers is hard
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06-16-2011, 07:23 AM
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#3
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Full time employment: Posting here.
Join Date: Nov 2009
Location: VA
Posts: 923
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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.
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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.
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06-16-2011, 09:04 AM
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#4
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Confused about dryer sheets
Join Date: Jun 2011
Posts: 5
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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.
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06-16-2011, 09:14 AM
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#5
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Full time employment: Posting here.
Join Date: Nov 2009
Location: VA
Posts: 923
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 Quote:
Originally Posted by BeeBee
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.
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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.
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06-16-2011, 01:56 PM
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#6
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Confused about dryer sheets
Join Date: Jun 2011
Location: Spokane, WA
Posts: 2
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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.
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06-17-2011, 09:25 AM
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#8
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Confused about dryer sheets
Join Date: Jun 2011
Posts: 5
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Thank you!
I'm going to look for a broker 
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