absolutely.. i use an insurance guy for everything but home/auto... i pay +/-$5,000/year for me & two teenagers. with Anthem-Blue Cross, the kids can have a separate policy to lower rates. i have PPO - basically, i pay for everything + the $5,000 premiums - after i think $5k, the insurance kicks in with like $10k max per year outta pocket. ... but i get discounts through the insurance on doctors & labs fees & i can pick any doctor. the lifetime-family limit is multi-millions... DO NOT scrimp on health insurance. pay-up for the best policy you can get with the best company... if you find you have a condition, it could be VERY DIFFICULT to switch companies/coverages. get a rec for a GOOD insurance guy from friends. insurane guy is also good if there are any issues - you call him & tell him to straighten it out.
depending upon financial situation, i would prefer LT care ins over life insurance. if you have enough to pass along to heirs/dependents, get the LT care policy - thats the one along with medical expenses that can wipe you out.
There are currently 1 in 6 people in this country without health insurance. If the illegals can go without it, plus many others, we should all go without it. For $1,000-2,000/month for coverage for a family, that is a rip-off. I can live in Europe, and use the 2,000/month to pay my rent, food, and utilities for the month. I can get medical insurance for emergency coverage for anywhere in the world, outside of the U.S., for only $125/month for a family of three. That is for $2 million worth of coverage per person per year with a $2,500 deductible. For 0 deductible, it's only $200/month for a family of three. http://www.travelinsurancecenter.com/
Disability is one that most forget......Especially traders. I have a close family member who makes about $600k per year. Been paying his premiums faithfully for 25 years. He's in the middle of his claim right now but they have no leg to stand on when it come to deniing his calim. His disability will pay off at about $280k per year Tax Free for the rest of his life. Not bad for healthy male who is 50 years old.
Number of Americans without health insurance rises... http://www.cqpolitics.com/wmspage.cfm?docID=cqmidday-000002575507
I just took a look at Blue Shield of CA. They have a individual plan called Vital Shield 2900 for only $91 per month. The annual deductible is $2900, maximum annual copay is $5900. The quote was for a 43 year old male.
i was actually referring to disability ins for LT care. im talking about having to pay for 20+ years of living in a retirement home.
Thanks for reminding me of them. I need to check as next month COBRA for my wife and I, no kids, with Cigna low deductible, will be about $700!:eek: We don't have any major health problems either!
Get a high deductible plan with an HSA (health savings account). I pay about $212/month and I can add about $200/mo to the savings account. This is tax deferred and I can use it for ANY medical need.......don't need to worry about the 7% threshold for taxes. I pay the first $5000 no matter what its for. None of that "co pay" bullshit, so I know what it costs and shop around to get the best deal. My lifetime coverage is $3 million. One of the best parts is that once I turn 65, I can draw any money out the savings account just like a 401K. Its MINE! So, if you take care of yourself and max out on the contributions, its like having another tax deferred savings account. PS. As to "shopping", I had minor surgery this past spring. Most doctors wanted $2300-$2700 beacuse the used a hospital OR. I found a doctor that did it as an out patient in his office for $600.
I though HSA accounts had to be spent in the calendar year or they were forfited? And don't you need to be an employee? Just going off memory. I stand corrected, just found this http://finance.yahoo.com/expert/article/millionaire/50127