MEDICAL INSURANCE
(and Maintaining Your Health)

I have my own insurance, like any business owner. My wife doesn't work and doesn't have to and we simply have our own insurance. Part of the price of "breathing" let along being in business for ourselves. 

I have my own. An HSA based policy. As a self-employed individual, HSA can be VERY beneficial. Look it up online. Lots of good info. 

I work 10 days a month as a firefighter/paramedic for the fire department … I have pretty good benefits. 

The biggest reason I've stayed in my regular job for so long instead of going into some type of business for myself is this very one. My wife and daughter both have serious medical conditions that mean I simply cannot be without insurance, not for a day.

Not a single European (or Canadian) magician would raise these questions, because it is not possible for any of them to be brought to bankruptcy, forced to sell their homes or dramatically lower their living standard, forced to choose between food or medicine, or forced to forgo medical care, or to limit themselves to partial or inferior care, because they cannot afford the cost of health care. These countries recognize a universal *right* to health care that is independent of their income or employment. This right, like all rights, is a freedom, and one that we don't have. … I can't help but wonder why we are not asking: "How come we are the only industrialized country in the capitalist world that does not?" Hey, it's a matter of life and death. 

I used to get my family health insurance through my local Arts Council's group plan for its members. When they discontinued that service, I contacted the marketing department of my existing HMO and found out that they offer small group rates for businesses that have two or more employees. So my wife immediately went on my payroll and I now purchase a family plan directly for my local HMO at rates that were less than I paid previously. 

If you operate as a sole proprietor, then that option may not work for you as you have no employees. My business operates as a subchapter S corporation that now has two employees on payroll.

Check with your local provider's marketing department regarding their small business plans. 

My solution is I have a wife with a day job, who supplies me with health insurance. I make more money than she does, but it is a team effort, she has a job, and I stay home waiting for the phone to ring. 

Eat healthy, food man didn't make. Drink pure water and plenty of it. Exercise. Get good sleep. Keep your nervous system tuned up via Chiropractic care. Stimulate the mind and keep it sharp. Laugh and encourage others to do the same. Avoid large quantities of alcohol. Avoid smoking & smoke filled rooms. Don't eat yellow snow. Take the money you would be spending on health care and invest it.

My wife worked a job where the corporate culture is terrible to their people. It was the insurance we needed. After several years she got the perfect job. M-F with holiday's & summer's off. 20 Days into the new job she became sick. 19 days later she was gone. For the 1st 30 days of the new job you weren't covered. The insurance should follow the individual, not the job. After a combined 70 years of paying premiums it was just our bad luck. And of the $100,000 she had been forced to invest in SS we, the family, just get $250. It might be nice to have "Universal Health Care supplied by Government (which mean by all of us through taxes)". But one more fix is "Individual Policies" with competition in the market. Most Americans think, "The company gives a large portion of my Insurance". Companies do not give anything. It's all out of YOUR TOTAL Compensation Package (The Total cost of you being there).
Just like companies don't really match your SS contribution. It's all your money. The only thing companies have going for them is they are able to get "Group Rates". And the truth there is even as an individual you are just a part of their total enrollment. I do see socialized health care coming as my generation wants future generation's to pay for us. But the original question remains. Are there any decent plans out there. It seems one of the reasons for IBM or SAM membership would be to have that collective bargining power if they have offerings.

I have been in magic for 40+ years and an insurance agent for 27+ years … Association and "franchise" plans have long gone away due to liability fears. Rates of course go up seemingly to be unaffordable for the one man shop, and it is tougher to get approved these days then it was years back.

Some ideas if your spouse is not employed:

A high-deductible plan so that even though small bills are not paid, when the worst happens you can afford the best care. In SC a usual deductible is $1000 but you can find $5000 or so.

Another idea is short-term insurance, the cheapest of all. It goes into effect the day you mail it. It doesn't pay for pre-existing conditions, but will pay for the unexpected. Some policies are good for 6 months, others for a year, and you can renew then or go with another carrier. It's not a perfect solution but good if you have no coverage and the lowest cost you will find. Couple it with a high deductible and the cost goes down even more. My thinking here is that take a year to do this and prosper so you can afford a more renewable plan.

Group plans with two or more are great because in our country now you can't be turned down. But because of this rates are 20% more than if you insured just yourself. The biggest problem is qualifying: the other employee must be full time and you should pay (in our state) at minimum 25% of their costs, and some companies don't recognize a spouse as an employee.

In severe cases, if you are very ill some states have a guaranteed risk pool that accepts those that are declined by companies offering popular plans. This is most expensive but yet available. Conditions sometimes have to wait for 6 months and maximum benefits are less than all other plans, but it offers some protection in the worst case.

You should already know that premiums are tax deductible now for self employed.

It is a complicated world out there with so many variables made rather simple to you all due to the now higher and maybe unaffordable premiums. Again a plan with modest benefits might give you solace and comfort at some small premium rather than having nothing at all and worrying much.

Do you belong to any organizations? The Better Business Bureau, Local Chamber of Congress, S.A.M.? Your best bet is to get insurance through a larger organization. You will get better benefits and for a cheaper price than if you try as an individual.

So people go without health insurance and that's great if they can afford the expense when it does arise. Since my wife is a nurse I hear time and time again about people who do not have insurance and are now selling there house and everything else they own to try and pay the bills. Some clients of hers pay $2000 a month just for medications alone.

Honestly, don't go without insurance it really doesn't pay. Not only are you subject to virus's (think if you are a performer and exposed to other people), but also genetics. A lot of "normal" conditions (high blood pressure, etc) are hereditary.

1. Align yourself with a larger group or organization.

2. does your state offer cheap insurance for self employed?

3. Shop around for HMO's

I go through my Chamber of Commerce. In Vermont it's about $230 month, no prescriptions, 2k deductible I think

Revised 4/2/2007