Private insurance....for a family of 5....is there anything under $1000 out there?

[jerseygirl07067]

I'm probably nuts for even thinking something under $1000 exists.

DH's job may be in jeopardy again, and I would have two options. Right now I currently work part time, per diem, for a higher pay rate and waive all benefits, since we get full benefits from DH.

I have two options....one is to go full time with my company and get full benefits. The other is to stay per diem, get the higher pay rate, increase my hours, and then find private insurance for our whole family. I know it's pricey based on past searches I've done here and our friends IRL who have private insurance.

It might still come out in my favor to do per diem if I could find decent benefits, even if I did have to pay $1000+. But I want to make sure there isn't something else out there that I've missed.

We've relatively healthy, no pre-existing conditions, though DH does have high cholesterol and probably needs to shed 10-20 pounds.

[egoldber]

It very much depends on what you want. If you are willing/able to do a high deductible plan, I think you could find something less than $1000.

Try ehealthinsurance.com and you can get some quotes to get an idea of what is out there in your area.

[jerseygirl07067]

It very much depends on what you want. If you are willing/able to do a high deductible plan, I think you could find something less than $1000.

Try ehealthinsurance.com and you can get some quotes to get an idea of what is out there in your area.

Thanks egoldber. I did see that ehealthinsurance.com site in the old posts when I was searching. I'm going to check that out.

[spanannie]

We have a high deductible HSA plan that we love. I've been with Golden Rule in some capacity for the past 15 years. Golden Rule with HSA and most out of pocket for our family of 5 is just under $6000 per year. Of course, you can put the $6K in your HSA account tax free. Premiums are low and expenses before meeting your deductible are still repriced, so you get the lower rate. It's been good for us. I've gotten my insurance through http://www.phillipsgroupinc.com/ since I was 17 years old. Ken is very helpful and will get you the best deal possible.

[niccig]

We have a high deductible HSA plan that we love. I've been with Golden Rule in some capacity for the past 15 years. Golden Rule with HSA and most out of pocket for our family of 5 is just under $6000 per year. Of course, you can put the $6K in your HSA account tax free. Premiums are low and expenses before meeting your deductible are still repriced, so you get the lower rate. It's been good for us. I've gotten my insurance through http://www.phillipsgroupinc.com/ since I was 17 years old. Ken is very helpful and will get you the best deal possible.

Can you tell me more about the HSA and how that works?

OP, sorry if hijacking, but we might be in same position.

[spanannie]

We pay a monthly premium to the insurance co. It's probably between $300-$400. I don't recall what it is now, but it started around $300. You can put a certain amount for a family into a Health Savings Account each year. You don't have to do it, but it's tax free savings, so very good. You don't have any time limit to use the money in and it's very loose about what you can use the money for -- anything health care related. I have it set up to put in several hundred a month and I use my HSA debit card to pay any medical expenses. Everything is submitted to insurance and I'll receive a bill for the discounted rate and then pay that. Once you reach your deductible, 80 or 100% is covered depending on what kind of policy you have. So, the way I look at it is worst case scenario, if something expensive happens health wise, the most I'll ever spend out of pocket in a year are the low premiums + $6000. I could have insurance that covered everything from the get go, but I'd be spending $1200+/month. I think this is a far better deal for us. It just depends on your comfort level.

[ShanaMama]

I am very interested in this because we currently pay abour $1500 monthly for a not fabulous plan. I had the same choice as OP, working FT to qualify for insurance or paying OOP. I briefly tried working FT & the toll it took on myself & family was too high. DH also WOTHFT, so he couldn't fill in the gaps. I went back to PT & we're paying through the nose.

[ShanaMama]

We pay a monthly premium to the insurance co. It's probably between $300-$400. I don't recall what it is now, but it started around $300. You can put a certain amount for a family into a Health Savings Account each year. You don't have to do it, but it's tax free savings, so very good. You don't have any time limit to use the money in and it's very loose about what you can use the money for -- anything health care related. I have it set up to put in several hundred a month and I use my HSA debit card to pay any medical expenses. Everything is submitted to insurance and I'll receive a bill for the discounted rate and then pay that. Once you reach your deductible, 80 or 100% is covered depending on what kind of policy you have. So, the way I look at it is worst case scenario, if something expensive happens health wise, the most I'll ever spend out of pocket in a year are the low premiums + $6000. I could have insurance that covered everything from the get go, but I'd be spending $1200+/month. I think this is a far better deal for us. It just depends on your comfort level.

Can you post more detail about this, like company name & type of plan?
Thanks!

[niccig]

We pay a monthly premium to the insurance co. It's probably between $300-$400. I don't recall what it is now, but it started around $300. You can put a certain amount for a family into a Health Savings Account each year. You don't have to do it, but it's tax free savings, so very good. You don't have any time limit to use the money in and it's very loose about what you can use the money for -- anything health care related. I have it set up to put in several hundred a month and I use my HSA debit card to pay any medical expenses. Everything is submitted to insurance and I'll receive a bill for the discounted rate and then pay that. Once you reach your deductible, 80 or 100% is covered depending on what kind of policy you have. So, the way I look at it is worst case scenario, if something expensive happens health wise, the most I'll ever spend out of pocket in a year are the low premiums + $6000. I could have insurance that covered everything from the get go, but I'd be spending $1200+/month. I think this is a far better deal for us. It just depends on your comfort level.

So, $6000 is your deductible? You pay your monthly premiums and put a few hundred a month into HSA, use the HSA for any expenses that come up, and if you never go over $6000, then total cost is the monthly premium + whatever you used in the HSA. And the remainder of the HSA carries over to the next year.

I should think about this. We have low premiums currently with DH's work, and $500 deductible each. DS and I did not met the deductible at all, and DH did because had an MIR for sudden onset of headaches that turned out to be exertion headaches...we don't expect for any of us to get to $500 deductible this year...baring accident.

[spanannie]

So, $6000 is your deductible? You pay your monthly premiums and put a few hundred a month into HSA, use the HSA for any expenses that come up, and if you never go over $6000, then total cost is the monthly premium + whatever you used in the HSA. And the remainder of the HSA carries over to the next year.

Yes, yes, and yes. With the $6K deductible (for the entire family), we can put $6K into the HSA. You never lose what you put in the HSA and don't have to spend it in any time frame . . . and you don't have to contribute to the HSA either if you can't or don't want to.

[spanannie]

Can you post more detail about this, like company name & type of plan?
Thanks!

I'm with Golden Rule on the United Network. I don't know the details of the plan off the top of my head, but I listed the website for the man I purchased my insurance from. He is very helpful and you don't have to be located near him for him to set it up. He really cares about saving you $.