What’s a typical cost for independent health and dental insurance?
Thе reason I’m asking іѕ bесаυѕе I’m thinking οf leaving journalism аnd delving іntο thе world οf full-time nannying. Besides being sick tο mу stomach wіth corporate America, I hope tο one day gο back tο school fοr a degree wіth early childhood education. I lονе working wіth kids.
Mу οnlу concern wіth thіѕ career mονе іѕ losing thе benefits thаt come wіth a corporate employer. Dοеѕ anyone know thе average monthly cost fοr dental, health аnd/οr insurance? Anу suggestions fοr insurance companies tο gο wіth?
The premium for your health insurance when you go out on your own will vary significantly based on your age and gender.
I have seen decent policys as low as $111 per month for a young male and over $800 per month for someone in their late 50′s.
Keep in mind, when you are going into the self employed arena – and you are shopping for health insurance, you can not look at the benefits in the same fashion as your big corporate health insurance policys.
You need to look for the following:
1) minimal internal policy limitations – ie – limints on physical therapy, ambulance, in-patient hospitalization limits
2) Provider Network – make sure you get into a plan that gives you in network access to nationwide doctors
3) Rate guarantees – some carriers are offering 18 and 24 month rate guarantees
4) Get educated on Health Savings Account (HSA) qualified plans – they can save you significant premium and tax dollars
5) Pre-existing condition limitations – if you have pre-existing conditions, be sure to review any exclusions with the policy
6) Use a local broker / agent – they have the most knowledge regarding the policys that work the best in your local area.
Hope this helps
I pay about $100 a month, but I also have a $2,500 deductible. I chose a high deductible because I don’t need to see the doctor due to the fact that I take responsibility for my health. I go in for an annual check up and a yearly dental cleaning, but that doesn’t cost even a fraction of what my premiums would be with a lower deductible so the math works in my favor.
What this level of insurance does help with is if I get into an accident because ER care is very expensive.
Health insurance is actually "money insurance." If it only pays for treating sickness then why does anyone think it’s "health" insurance?
There really is no typical insurance cost since the rate is derived by a few things, but the main thing is the benefits. You will have the option to pay for COBRA coverage for up to 18 months, more if you live in CA. This will be the unsubsidized, full cost of the insurance plan you have now. Which is probably too expensive for what you need.
Since insurance is highly regulated by state governments you should be able to find information on your state dept of insurance web site on which companies have a significant complaints filed against them.
It may be beneficial for you to see if there are any hobby groups or volunteer organizations that you can be associated with to enroll on their insurance programs, depending on your free time as a nanny. Have you thought about a job in daycare that offers benefits instead of a nanny?
Buying Insurance on your own can be vary scary, you are going to have tons of options, careful reading is the only way to navigate the myriad of choices you will have.
Things to consider.
Deductible this is usually the amount of money that you will have to pay out of your pocket until the policy begins paying usually at an 80 / 20.
Co-Insurance this is the amount that you will pay until you have satisfied a maximum limit, or there may not be a limit, usually you can find a policy that when your 20% equals an amount (X dollar) that it will pay 100%
Rates and eligilibity are going to be determined on Medical Underwriting, someone that is a non-smoker, generally healthy and say age 30 to 50 will be looking at a monthly premuim of $100 to $350, the premium generally increases based on attained age, and community rating (area rating).
And keep in mind, that there are rating classes, Preferred Rating, Standard Rating, and Sub-Standard Rating.
Alot of variables, consult a Agent in your area, one that is appointed to several companies would be in your best interest, they can shop various underwriters to get you the best rate and coverage.
Dental will run an additional $50 to $70 if you go with a PPO plan.
Each state has different premium rates, which likely must be approved by that states insurance governing body. Many insurance companies publish their health insurance premium rates on their website. As an example, in the state of Arizona, Blue Cross Blue Shield of Arizona has a tool on their site that will give you the exact cost. Of course, you must live in Arizona to obtain coverage from them. Their site is http://www.azblue.com. Try a Google search, using your state name in the search term.
If you’re 30 and healthy, the health insuranc will run you around $250 a month. More if you’re older, or not healthy – and if you’re not healthy "enough", no one will insure you.
The dental plan will likely cost you about $25 a month, HOWEVER, run the numbers. It’s cheaper to pay out of pocket, because they have HUGE deductibles and copays for everything except cleanings. And it’s cheaper to pay out of pocket then buy the plans.
You’ll need someone who writes insurance in YOUR STATE, and has lots of local providers. So get your quotes through a local, independent agent. DON’T BUY ONLINE. Remember, "medical plans" "health plans" and "health discount plans" are NOT insurance, and most of the time, providers won’t take them.
Depending on a lot of things like age, health, gender, etc., it’s very hard to find the right fit on insurance. Your best bet is going with an agent to get you the best rate or you could consider a very affordable alternative. It’s called Ameriplan Health discount program and it covers everything, from regular office visits to ancillary services. No age limit, no paperwork, any pre existing conditions covered, No waiting period. Plus you get Dental care, Vision, Prescription and Chiropractic care for free.
And all that for $49.95 a month for individual or $59.95 for an entire household.