Health insurance query?
Hi all.
Iām doing some research on moving to florida so along side finding out about purchasing an established business and a home Iām not sure how much or where to go to get a quote for medical insurance for my family of 5. Any advice is welcome. Thank you. :-) |
Re: Health insurance query?
You can find out what plans are available in Florida on the government healthcare site
https://www.healthcare.gov/ or search to see if Florida itself has its own health exchange. For a family of 5 you should be budgeting for approx $1k in premiums a month. |
Re: Health insurance query?
And that is with high deductibles to be meet before the insurance starts paying.
In MS for my daughter's family of 5, the premium for a 15K deductible policy from Humana was quoted at over 1.2K per month. |
Re: Health insurance query?
Purchasing an established business may well mean deals have been made with an insurance provider and then the business will subsidize some of the cost.
I think you need to research the business you're buying. |
Re: Health insurance query?
Originally Posted by SanDiegogirl
(Post 12445157)
You can find out what plans are available in Florida on the government healthcare site
https://www.healthcare.gov/ or search to see if Florida itself has its own health exchange. For a family of 5 you should be budgeting for approx $1k in premiums a month. Personally I think there is much to recommend about high deductible insurance, but if you aren't comfortable with a family annual deductible of the $10k or more then I would expect to budget around $2k/mth for more traditional health coverage with a lower deductible. |
Re: Health insurance query?
It's really difficult to advise people with regards health insurance these day as we are unsure as to what will happen in the future with regards the Trump administration.
Will there be subsidies for premiums based on income?; will there still be State or Government exchanges or will we return to just applying to individual health insurance companies and be at their mercy?; who knows these days? Hence our usual advise to expect high premiums and/or high deductibles. |
Re: Health insurance query?
Originally Posted by SanDiegogirl
(Post 12445205)
.... Hence our usual advise to expect high premiums and/or high deductibles.
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Re: Health insurance query?
Originally Posted by Pulaski
(Post 12445214)
Yet your advice above, of $1,000/mth for a family of five was, IMO unrealistically low for an exchange policy.
It will all depend on what plan, what deductibles and whether the OP will be eligible for subsidies. If the OP baulks at $1K per month for premiums it, at least, gives them food for thought as to how much health insurance is in this country. |
Re: Health insurance query?
Originally Posted by SanDiegogirl
(Post 12445205)
It's really difficult to advise people with regards health insurance these day as we are unsure as to what will happen in the future with regards the Trump administration.
Will there be subsidies for premiums based on income?; will there still be State or Government exchanges or will we return to just applying to individual health insurance companies and be at their mercy?; who knows these days? Hence our usual advise to expect high premiums and/or high deductibles. At least with the option above my daughter's family had affordable healthcare through Humana with a manageable deductible. So they would prefer to be at their mercy as you put it. |
Re: Health insurance query?
Originally Posted by SanDiegogirl
(Post 12445234)
One has to start somewhere; and quoting $1k per month for premiums for budgetary purposes is not so unrealistic. ....
For "starting somewhere" purposes I would lean toward over-estimating, not under-estimating. What if the OP arrives, expecting to pay $1,000/mth and discovers that it's $2,000/mth? |
Re: Health insurance query?
Given her other thread about schools for a son with autism, I suspect she'll need a good plan, not an entry level / high deductible one. With appointments every 1-2 months plus meds for our son, our outgoings with good(ish) insurance still costs $100-200 per month for him. Well, was thankfully, as we became eligible for medi-Cal for him just recently, so no more copays. Small mercies which the OP probably won't get from Day 1.
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Re: Health insurance query?
Originally Posted by GeoffM
(Post 12445258)
Given her other thread about schools for a son with autism, I suspect she'll need a good plan, not an entry level / high deductible one. With appointments every 1-2 months plus meds for our son, our outgoings with good(ish) insurance still costs $100-200 per month for him. Well, was thankfully, as we became eligible for medi-Cal for him just recently, so no more copays. Small mercies which the OP probably won't get from Day 1.
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Re: Health insurance query?
Originally Posted by Twinkle0927
(Post 12445259)
Agree. High deductible plans are great for people who don't see a doctor but once a year. Those who have ongoing medical issues and/or require regular medication or procedures are probably better off with a low deductible plan in the long-run.
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Re: Health insurance query?
The issue is that most Americans have their Insurance paid for them either by an Employer or the Government, and obviously you will not.
Now some States California and New York for example are much more generous with who can benefit than others, so that may be a factor in deciding where to go especially as you seem to have needs. |
Re: Health insurance query?
Ah I never even thought about that. Insurance with a business we buy. š¤
Ok so to confirm we pay lower monthly instalments but with high deductibles is when we do go to the doctors or hospital we have to pay a percentage of the cost every timer? Sorry new to all this terminology. Thank you everyone for your help. Really appreciate it š |
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