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Health insurance query?

Health insurance query?

Old Feb 18th 2018, 6:35 pm
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Default Health insurance query?

Hi all.

I’m doing some research on moving to florida so along side finding out about purchasing an established business and a home I’m 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. :-)
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Old Feb 18th 2018, 7:43 pm
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Default 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.
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Old Feb 18th 2018, 7:45 pm
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Default 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.
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Old Feb 18th 2018, 8:12 pm
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Default 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.
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Old Feb 18th 2018, 8:22 pm
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Default Re: Health insurance query?

Originally Posted by SanDiegogirl View Post
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.
As Rete said, you won't get much for $1k/mth - it would certainly be a high deductible policy.

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.
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Old Feb 18th 2018, 8:53 pm
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Default 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.
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Old Feb 18th 2018, 9:06 pm
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Default Re: Health insurance query?

Originally Posted by SanDiegogirl View Post
.... Hence our usual advise to expect high premiums and/or high deductibles.
Yet your advice above, of $1,000/mth for a family of five was, IMO unrealistically low for an exchange policy.
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Old Feb 18th 2018, 9:27 pm
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Default Re: Health insurance query?

Originally Posted by Pulaski View Post
Yet your advice above, of $1,000/mth for a family of five was, IMO unrealistically low for an exchange policy.
One has to start somewhere; and quoting $1k per month for premiums for budgetary purposes is not so unrealistic.

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.
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Old Feb 18th 2018, 9:30 pm
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Default Re: Health insurance query?

Originally Posted by SanDiegogirl View Post
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.
It is not just based on income. If there is such a thing as obamacare in the future, if you are self-employed, at least in the State of MS, you are not eligible and have to go private.

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.
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Old Feb 18th 2018, 9:40 pm
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Default Re: Health insurance query?

Originally Posted by SanDiegogirl View Post
One has to start somewhere; and quoting $1k per month for premiums for budgetary purposes is not so unrealistic. ....
People on BE have been quoting $500-$700 per person per month for a high deductible policy, which is why I think that giving "$1,000/mth" for a policy for family of five, not subsidized by an employer, as 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?

Last edited by Pulaski; Feb 18th 2018 at 9:43 pm.
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Old Feb 18th 2018, 10:08 pm
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Default 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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Old Feb 18th 2018, 10:13 pm
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Default Re: Health insurance query?

Originally Posted by GeoffM View Post
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.
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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Old Feb 18th 2018, 10:20 pm
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Default Re: Health insurance query?

Originally Posted by Twinkle0927 View Post
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.
Maybe, but that's where things can get weird if you're used to the NHS "all you can eat buffet" approach of the NHS - it is possible to save so much with lower HD premiums that it is still possible to have a HD policy and see a doctor several times a year and still have lower costs than taking a "traditional" health insurance policy. The tax benefits of linking a Health Savings Account to your HD health insurance policy should be part of your decision making process.

Last edited by Pulaski; Feb 18th 2018 at 10:29 pm.
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Old Feb 19th 2018, 3:31 am
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Default 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.
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Old Feb 19th 2018, 10:37 am
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Default Re: Health insurance query?

Ah I never even thought about that. Insurance with a business we buy. 🤔
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 😀
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