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cost of insurance
Apr 3, 2012

I own a small business which pays for my BCBS health insurance. Premiums are currently $1,500 a month plus $90 co pays plus I have to pay the first $1000 and 20% of all costs. Last year it costs just over $20,000 and is set to increase again this Oct I can not longer afford it and I dont quailify for anything What am I to do. Everyone I have spoken to has said to wait until 2014 for Obama care to kick in but I can not wait that long plus it may not even be there???? I am about ready to give up....

Response from Mr. Chambers

First is your insurance a true group health plan? Does it cover more than you as an employee? If there are two or more employees covered, then you have a guaranteed right to purchase another group health plan regardless of your health history.

If, however, your plan is an individual plan covering just you and possibly your family, then changing insurance plans is a problem. Does your state offer a high risk health insurance pool? You can get a list of plans by state at this site.

If so, you may be eligible for that plan, while the healthy members of your family may purchase regular health insurance.

If there is no high risk plan you are eligible for, you may consider raising your deductible even higher making your insurance a catastrophe policy, if the premium savings is significant enough.

A final alternative, which I do NOT recommend, is to drop health insurance. After six months of no coverage, you would be eligible for the Pre-Existing Conditions Health Insurance Plan (PCIP) which each state has set up under the new Affordable Care Act.

Good luck, Jacques

at this site.



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