Questions for ERs with individual health insurance

[perinova]

(1) The only states 5 with community rating are the most expensive NJ, MA, ME, VT, NY.
(2) All other states will charge a lot for new policies of older or sick individuals. Risk pools are also expensive.

I am concluding that the only inexpensive solution is to move to a state without community rating BEFORE being old or sick. And remain there forever with the same insurance. I am now early 40s. I probably have to do this as soon as possible.
Or should I hope for a change in our health sysytem that will solve those problems in the near future? (<5 years?).

If I don;t retire now because I am trying to put more money aside for my portfolio I may run into a situation that the money I am saving will be completely put to buying a higher cost insurance anyway.

Example
- older or community rating insurance =$1000/mo
- younger =$400/mo
Thats $600 difference. $7200/yr*25=$180000

Oops maybe I should jump now rather than later
___________________________________________

I am also concluding that
- it might not make sense to get any insurance before being sick and put the money to work in the stock market. When getting sick it will be always time to get quotes and find out if it worth it or not depending of what illness.
- what I need instead is a (much cheaper?) ACCIDENT INSURANCE.

Can anyone comment on my thinking?

[Martha]

Who knows what the marketplace is going to look like in 5 or 10 years. I can't guess.

There are a number of risks in going bare. One big problem is that if you give up a group plan, you lose portability rights under HIPAA. This means that most insurance plans will have preexisting condition exclusions or waiting periods. This may even be true for risk pools.

[mark500]

The "guaranteed group conversion laws" may not be helpful at all.
If you leave a group plan and want to convert to an individual policy, the insurance company must provide coverage. However, they can jack up the rates.
Most states apparently have no limits on the premium increase. Thus, the guaranteed conversion is mostly useless. In states with a high risk pool, they will just offer coverage at a higher cost, making the state's high risk pool coverage the best option.
That must be why healtlh insurance companies like states to have a high risk pools.

[Danny]

Originally Posted by Martha

There are a number of risks in going bare....

Here is an alternative...


Come to think about it I wonder what Christian Scientists do do about health insurance...do they get it just in case they change their mind....can they opt-out at work....anybody know....