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-   -   Health Insurance Blues:How do small business owners & Musicians manage this? (http://duc.avid.com/showthread.php?t=1259)

Brent Hahn 03-30-2002 01:44 PM

Re: Health Insurance Blues:How do small business owners & Musicians manage this?
 
It's a complicated subject.

As I'm sure you've found out, there's no cheap way around this. And of course, your premiums depend on your age, where you live, number of kids.

As for your prescription meds, all insurance companies handle it pretty much the same. Once you've sent in your application (with truthful answers about your pre-existing conditions and prescribed medications), they'll offer you a policy with a set percentage added on for your prescriptions. If your basic monthly premium as stated on their rate sheet is high (because, say, you're an old geezer with a wife and kids living in a big city, like me) they'll probably tack on 20 percent or so. If your basic premium is cheap because you're young, rural and childless, they'll probably ding you for another 40 or 50 percent, since the prescription is a fixed cost.

Then there's the basic question of HMO vs. PPO. Your monthly premiums will be lower with an HMO, but it's risky. Ever wonder why some haircutters wind up working at Supercuts? Same goes for doctors.

And besides, the big ticket PPO's like Blue Cross and Blue Shield get steep discounts on medical services which get passed on to you, and you benefit even if you never make your deductible. Makes a huge difference in what you'll pay for your wife's mammograms and pap smears, for instance.

With any PPO, you'll save money by going with a really high deductible. Probably a good bet if you're young and healthy, aside from the ADD.

You also might want to consider becoming a corporation. The initial cash outlay is high, and there are other tax consequences that differ from sole proprietership. But the upside in your case is that, since you would be an employee of your corporation, your health coverage would be 100% deductible. As opposed to the 50% that's deductible for you now as a self-employed person.

Or you could move to the UK or Canada.

Brent Hahn

unclemurray 03-30-2002 02:01 PM

Re: Health Insurance Blues:How do small business owners & Musicians manage this?
 
I joined a small business association for $35 a year and that allowed me to get a group rate on Health insurance. It's about $100 less a month than buying directly from an insurance company.

daryl bowden 03-30-2002 11:55 PM

Re: Health Insurance Blues:How do small business owners & Musicians manage this?
 
Well, since you are a musician, you might want to look into joining ASCAP. I believe they have quite a good health plan for a low price, much the way SAG does for actors. Check out www.ascap.com for more info, but it might be right up your alley.

slangification 03-31-2002 12:27 AM

Re: Health Insurance Blues:How do small business owners & Musicians manage this?
 
Get a recommendation from a friend for a good local insurance agent and sit down with them. There are all kinds of ins/outs to different plans that only someone who deals with it every day would know. Often they can piggyback you on a local company's group plan. There are also many state-specific laws that could be meaningful to your situation - especially with regard to pre-existing conditions, etc.

GuitarEasley 03-31-2002 12:58 AM

Health Insurance Blues:How do small business owners & Musicians manage this?
 
How do you small business owners & musicians manage your healthcare?

I have got the major big-time Health Insurance Blues. I had always used my wife's healthcare plan but now she has switched to a job that does'nt offer any health insurance.

My biggest problem is prescription medicine. I have been succesfully treated for three years strait with a medication called adderall for an attention deficit problem. Now that I am not covered it costs me $220. a month. I simply can't keep paying it for much longer! I already tried a couple of local places for help but this particular medicine was'nt covered.

Who else here has been in a similiar situation?

Anybody have any ideas or suggestions?

I guess I need to try to find some reasonable private insurance to pay for?
I don't have much experience with how to ask insurance companies for insurance esspecially if I need a particular coverage but I have a bad feeling it is tricky.

Reply here or even email me directly at: guitareasley@hotmail.com
[img]images/icons/frown.gif[/img]

Please help me if you can,

GuitarEasley

Ray Lyon 03-31-2002 07:48 PM

Re: Health Insurance Blues:How do small business owners & Musicians manage this?
 
My insurance does not cover prescription meds... so I order overseas. I take Imitrex for migraine headaches and they are $16.00 a pop here in US. The price from the pharmacy I use in Italy is $6.50 each. You can legally order a 90 day supply. Email info@farmaciacerati.it for more info... you'll find their prices at least 50% of what you'll pay here in the states.
Hope this helps!

MixerPro 02-15-2020 05:43 AM

Re: Health Insurance Blues:How do small business owners & Musicians manage this?
 
Hello,
Do you have any information about Health insurance in Singapore ?
What do you think about this one ? https://www.axa.com.sg/health-insurance

JFreak 02-15-2020 06:21 AM

Re: Health Insurance Blues:How do small business owners & Musicians manage this?
 
Try a country with proper healthcare built-in. Finland for example has set limits that for any individual only needs to spend maximum of 600 euros a year for meds (rest are free) and 600 euros a year for medical treatments (rest are free). No real need for a medical insurance. If you need heart or brain surgery, that is also covered within those limits. So maximum anyone here will have to spend on healthcare is 100 euros a month without insurance.

Southsidemusic 02-15-2020 06:31 AM

Re: Health Insurance Blues:How do small business owners & Musicians manage this?
 
Haha Here in sweden it is a total of 200 dollars and after that you can visit the emergency or private doctors as many times you want for zero cents.

Also a cap for ALL meds at 199 dollars a year so if your first prescription is 200 bucks then you have free meds for a whole year :-)

All operations and xrays and whatever treatments that costs hundreds of thousands of dollars are capped at the $200 scheme so no one with cancer or heart problems or needs a pacemaker or whatever pay more than $200 a year and all is included no matter what illness you have.

Also an emergency visit is only $30 and private clinics $20 a visit no matter if you have to stay for a day or a month or longer. All physio and aftercare is also counted toward that 200 dollar a year cap. So thats why I would never move permanent out of swedish health care as we are taken care of until we pass on.

If you dont have the $30 for an emergency visit you can ask the state and they will pay it and you dont even get a reminder fee should it go months before tou can pay the bill. Health care and hospitals are not allowed to go after people who cant pay as it is against the government laws.

JFreak 02-15-2020 06:33 AM

Re: Health Insurance Blues:How do small business owners & Musicians manage this?
 
You win :D


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