Medical Insurance
 

Im soon to be moving to the USA from the Uk and would like advice on Medical insurance.
I will be self employed

What typically will be the amount I should allocate for this insurance.

Please advise
Thanks
Mark

Re: Medical Insurance
 

Cost will depend on a lot of factors. Age/general health/pre existing conditions/dependents et cetera.

Is it possible for you to call around some insurance providers to get some quotes before making the move? I'm lucky enough to be on a group plan through my employer but the cost of some plans can be quite prohibitive I have heard.

Re: Medical Insurance
 

My DH and I looked into health insurance through State Farm (not really a well known health provider, to be fair) when we got here, and it would have been over $500 a month each for very limited "catastrophic" cover. We declined, and fortunately I got a job with good benefits before anything happened to us.

Re: Medical Insurance
 

Don't get sick!

Look for trade associations based on your work who provide group coverage plans. These are usually far better than individual plans, especially in this time when the healthcare reforms have not yet levelled the playing field.

Re: Medical Insurance
 

Until such time as the new health reform changes go through in 2014 (IF they will), you should be thinking about whether you will get insurance as an individual as well as the cost of it.

If you have any pre-conditions (and this can vary from being asthmatic, suffering from high blood pressure to having had cancer 5 years ago) the insurance companies can deny individuals cover (more difficult to do if you are in a Group plan with an employer) or put restrictions on your policy.

The older you are the more expensive the policy.

You should think carefully about having resources (ie money) in the case of you not getting insurance.

One thing that hubby and I were told when looking for individual health insurance was that the self-employed, if in a partnership type of arrangement, can apply for GROUP insurance in some circumstances. We did contemplate setting up such a company just for the insurance aspect.

This might be be very helpful to you.

Re: Medical Insurance
 

I suggest $500 as the minimum per month amount. You need to know that a single hospitalization in the US without insurance can easily bankrupt you. Even with insurance, depending on what's covered, you could end up bankrupt.

Ian

Re: Medical Insurance
 

You should be able to get a general idea of costs at www.ehealthinsurance.com

Re: Medical Insurance
 

There are a lot of insurance companies and it can be daunting trying to pick one. One way to go about it once you are here is to find a doctor you like perhaps through personal recommendation and find out which insurance networks the doctor is in, then look at those companies only.

There is nothing more frustrating particularly when you need specialist treatment for something to find a great doctor only to learn that they are out of network and you will have to clear a huge extra out of network deductible before the insurance company even considers reimbursing you for a small percentage of what you've just been billed.

Oh and in answer to your question, at least $500 probably more per month plus out of pocket copays etc.

Re: Medical Insurance
 

Does your spouse-to-be have an employer plan? If you can get on to her insurance, it will usually be a much better deal.

Re: Medical Insurance
 

Always intrigued when this is the last thing to be investigated....anyway, anything from $500-1500 a month....but it all boils down to level of coverage you are comfortable with and your own personal circumstances and to some extent, what state you are living in.

Re: Medical Insurance
 

Age is a biggie.