Does anyone "buy" their own health insurance?

[AllyandJack]

DH and I work in a state with HIGH premiums and we're paying a LOT each month despite an employer contribution. I'm wondering if it would be cheaper to buy it ourselves since we live in a state with lower insurance rates. Any ideas on how to look into this? I want to make sure I can see the same doctors - some of which are in the state where we work.

It's all so confusing. I've tried visiting some health insurance websites, but none of them have any information on purchasing plans. Does anyone do this?

Thanks!

 

[jkovick]

I don't, but my parents are self employed and do purchase their own health policies. Let me tell you it is OUTRAGEOUS! Fot the two of them (in Michigan) they pay something like $1400. a month. Yikes!!!



(They have a PPO with prescription coverage)

 

[Traveliz]

We do - my husband lost his job and his new job's insurance wasn't that great at all - expensive and not the doctors we wanted so we called an insurance agency and told them what doctors we wanted to be sure were on the list and they told us our options. We pay just over $500.00 a month for the three of us.

If he went through insurance at work they would take $169 a week out of his check so this was definitely a better deal for us.

Liz

 

[jrydberg]

I bought my own while I was doing contract work. For me and my daughter it was something like $300/month (parent + child coverage) for Blue Cross/Blue Shield.

 

[pixiemomma]

I doubt it would be any cheaper. We pay over $4000 a year. We have exceptionally good health histories and do not smoke or use alcohal or drugs.

 

[AllyandJack]

Thanks for the input everyone! I'm not entirely sure it would be cheaper, but it can't hurt to give it a try. At least I know it is possible.

I guess we shouldn't complain too much since the plan is pretty good and $400. a month isn't THAT bad. But, if I can save some money, by golly, I'm going to try!

 

[Eeyore1954]

Be very careful and don't let yourself be fooled by the $. Carefully review exactly what coverage is offered by each plan, including any deductibles and/or co-pays. You'll need to figure how much you anticipate using various services to determine if you will truly save money or not.

Bottom line: the premium you pay for health insurance is not always the only cost to you. You may save some money with a lower premium, but end up paying more money in the long run. Read and compare everything very carefully before you sign up.

 

[airhead]

I have Fallon HealthCare and I pay $340 a month. I'm pretty happy with my coverage.

 

[BedKnobbery2]

I pay $140/ month for BC/BS basic coverage with a $5000 deductible. That's for just me--thankfully, my kids are covered under their father's health insurance. I have to pay for all office visits, meds, etc. I only have it in the event something catostrophic happens to me and I wind up in the hospital or something like that. So far, it has been fine for me, since I'm relatively healthy and rarely go the doctor. If I required more dr. visits, I'd probably move up to a PPO/HMO kind of plan, but those START at $280/month.

 

[AllyandJack]

I've looked into it and I've found that the plans that are offered to individuals (i.e. not through a group) tend to have high deductibles. I found one BC/BS plan, probably one of the similar plans to yours, BedKnobbery2, that had a $1,000. deductible, but you had to pay up to $6,000. before things were covered 100% (they only paid 80%). I didn't see the rates, but I don't think having kids on such a plan would be cheaper than the $400. a month I pay now for 100% coverage with a $600. hospital deductible and low co-pays.

But, it is good to know that it's available in the event jobs are lost or something happens where we lose the coverage. It's good to know there is that safety net available.

Thanks again everyone!

 

[Lewisc]

Usually group coverage costs less than individual coverage. The employer (usually) pays part of the premium.

Individual coverage generally isn't a good option. Higher premiums, higher deductibles and reduced coverage for drugs and itmes like mental health are things to look at.

If you don't have drug coverage look at places like COSTCO (you don't have to be a member to buy drugs) and drugstore.com.
I don't have any information about buying drugs in Canada but some people say you can save money.