This year will be the first year will I have to buy my own health insurance. As a full time independent trader, I have to foot the whole bill myself. What do you other independent traders do for health insurance? Any tips? A high deductible plan where a health savings account, which can be traded, the way to go?
Depending on your exact situation, a high deductible plan is probably the way to go. I was able to insure my family of four on such a plan for about $200 per month when I was working on my start up.
Is there a reason why you've provided so little information about your situation ? Country, state, individual, family plan and so on. This is one of the most expensive expenses for an individual trader per month and its something that should have been saved prior to becoming an independent trader so that you can afford it for several years. Use Google / Bing to find a private healthcare plan suitable for your situation and call your family doctor, dentist, place you get your glasses to find out what insurance plans they except... There are some websites that will looks for healthcare providers for you and compare their rates. Some will require you to pay upfront and you'll then be reimburse after you or your care provider submit the paper to them while others will pay as you use the healthcare service. Anyways, this should have all been planned out prior to going into trading because some healthcare plans are cheaper while you're employed versus getting them after employment. wrbtrader
2021 with be the 1st year in a while I'll go without health insurance. I just signed up for a healthcare cost sharing plan. Works similar to health insurance but it's not insurance. https://www.chministries.org/
Pretty simple system. Every member pays a premium just like health insurance. The money is pooled to pay for the healthcare costs of all members. If you have a medical bill you'll pay it yourself but you'll send a copy to the cost-sharing company which will reimburse you for the bill. They will review the bill to make sure it meets their requirements. You'll need to review what they won't cover. The first $500 of any bill is paid by yourself so if you go to the doctor frequently for small items then this may cost you more than if you have health insurance. Everyone pays the same (3 plans) regardless of age or pre-existing conditions. You can go to any doctor/hospital with no concern for "in-network" or "out-of-network". Personally, I can afford the small costs so just want something in case of a major bill. The most expensive plan they have is $172/month + $40/quarter = $185/month. There are other cost-sharing companies similar to this one but I didn't review them much.