Cost effective health care benefits without a corporate job Best answer on the web

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  • Where and how can you obtain health care benefits (medical and dental) cheaply when you've lost your corporate job? Is there some way to do this if you form a "paper" small business? Or alternate ways? How can this be done through Aetna/US Healthcare (my present carrier)?


  • I don't know much about insurance, but I did some computer work for State Farm so I picked up a few bits of knowledge here and there. I know that State Farm offers health insurance via Fortis Health, including a special temporary, short-term health insurance for people between jobs that sounded really cool. In case you want to look into that, here's the Fortis Health webpage:
    http://www.etdbw.com/fh/fortishealth/index.jsp

    Here's State Farm's health insurance page:

    http://www.statefarm.com/insuranc/health/health.htm

    Most other insurance companies should have similar pages. For example, you mentioned Aetna, and looking around aetna.com turned up a fair bit of information. The best thing to do would really be to just talk to a local insurance agent. I know from meeting about 50 of them that they tend to be very polite and helpful, and since they generally make money only by selling policies rather than getting a salary, they have strong motivation to help you out. Talking to an agent of a company that sells health insurance would be the best way to get the specific information you need, and free.


  • I apologize for your having lost your job. That’s a tough break.
    A person whose job has been terminated has rights under the Employee Retirement Income Security Act of 1974 (ERISA) – the Consolidated Omnibus Budget Reconciliation Act of 1985 — commonly called COBRA — may allow you to purchase extended health care coverage. The Health Insurance Portability and Accountability Act of 1996 — known as HIPAA — protects you and your family from discrimination because of pre-existing medical conditions. See http://www.cobrahealth.com/afterjobloss.html
    You may be able to purchase extended health care coverage under COBRA if your job ended for any reason other than gross misconduct. To qualify, your employer must have had 20 or more employees, you must have been a participant in your employer’s group health plan, and the employer must continue to maintain a health benefit plan. Once your job ends, your plan must provide you with written notice explaining your rights under COBRA. You have 60 days from the date the notice is provided or from the date coverage ended — whichever is later — to elect COBRA coverage. It begins the day your health care coverage ended and lasts for up to 18 months (and longer in some cases). You should also know that under COBRA you may have to pay the entire group rate premium for health care coverage. HIPAA requires that most plans provide coverage for pre-existing medical conditions after 12 months (in most cases). Further, HIPAA requires a new employer’s plan to offset this 12-month exclusion period by giving you credit for the number of days you had previous coverage — unless you had a major break in coverage. Your former employer is required to provide a certificate that documents your “creditable coverage.” See, again, http://www.cobrahealth.com/afterjobloss.html

    Your old carrier, Aetna / US Healthcare has a nice website which may be useful:
    http://www.aetna.com/Member_Public/index.jsp

    I have found that, in many cases, the local Chamber of Commerce can be a great source of coverage. You asked whether a “paper” small business would be required. Many Chambers do require membership in the organization, while some don’t. Most, and probably the vast majority, don’t require a formal business entity, such as a corporation or limited liability company; individuals can typically join. Check your local Chamber.
    A Google Search on “Chamber” and “Health Insurance” reveals quite a bit: ://www.google.com/search?sourceid=navclient&querytime=WPRXjB&q=%22health+insurance%22+chamber

    Contact your state government to find out if you or your dependents are eligible for public health insurance, like Medicaid or the new State Childrens' Health Insurance Programs, or to get information on obtaining new coverage. http://www.dol.gov/dol/pwba/public/pubs/health/work-text.html
    You may also consider contacting any trade or professional association that you may belong or be eligible to belong to. This can be particularly attractive if you become self-employed. Another good source of information is your local “unemployment office.” Most, though not all, states have significantly expanded the scope of their counseling at these offices, and these professionals may be well versed in local options and the related costs. Search Terms:

    ://www.google.com/search?sourceid=navclient&querytime=WPRXjB&q=COBRA+Insurance
    http://www.cobrahealth.com/afterjobloss.html

    ://www.google.com/search?sourceid=navclient&querytime=WPRXjB&q=%22health+insurance%22+chamber
    If I can provide any further information, please let me know. I would be happy to research any particulars, for example State specific information.
    Best,

    Tom


  • An excellent answer, though I would have appreciated more specific direction on setting up my own corporation/small business, and exactly where I could then get health insurance under that entity. However, the information given was very useful and clear. I don't know how you guys can do this for the little money paid, the service is worth much more. John


  • Additionally, many states offer subsidized health care for residents who are without health care. The terms of this coverage varies wildly from state to state, but checking out what is available through your state public health organization is a good place to start. The big question you will probably need to sak is "Will I be better off keeping my current provider/insurer and paying higher rates or switching providers/insurers to get lower cost health care?"


  • Hi jfhogan,

    When I was one my own and doing some consulting, I went to eHealthInsurance.com (I know, a bit dot-corny):

    You can search for plans and rates.

    I don't know whether you can request a specific carrier or not.

    mit


  • Both Blue Cross (http://www.bluecares.com/) and Kaiser (http://www.kaiserinsurance.com/) have plans for individuals and small businesses. I'm sure other major carriers do as well, but I am only familiar with those two. Our experience with Kaiser is that their emergency room staffs are superb, but that the rest is a typical HMO ;-). For the price, it may be difficult to beat.









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