How To Get Better Health Insurance If You're Self Employed | TIPS TO SAVE ON YOUR MEDICAL EXPENSES
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- Опубліковано 4 лип 2024
- Want to know how to get better health insurance if you're self employed? Look no further! Today I'm going to be running through a variety of health insurance (and non-health insurance) options to help you get great coverage at a lower cost. I'll also be sharing my top resources and tips to save money on your medical expenses as well - so be sure to watch till the end!
If you're self-employed or work in the gig economy, then you've probably come across the difficult situation of shopping for health insurance. Here in the US, health coverage is heavily tied to employment status, so if you're in the gig economy or someone who is self-employed, health insurance options can be really expensive. That's why I wanted to share some of the lesser known options out there, and ways you can combine different options for better coverage but at a lower rate!
And again, be sure to stay tuned to the end of the video where I talk about my top resources and tools to use to save money on a variety of medical expenses & dental expenses. These tools have saved me THOUSANDS of dollars, so I wanted to share them with all of you as tried and true resources (and I'm not personally affiliated with any of these companies. I'm just such a huge fan that I love sharing about them!)
SIDE NOTE: I know the audio is a little rough. Bear with me! I forgot to change my audio levels while recording. Whoooops.
DISCLAIMER: I'm not a health insurance agent. The information in this video is just from doing my own research as a self-employed individual and my own experience of utilizing a variety of coverage options. If you are considering different health coverage options for yourself, it is always best to talk these options over with a licensed health insurance agent or broker.
😃 Thanks for Subscribing & Liking the Video!
►TIME STAMPS:
0:00 Introduction
1:31 Commercial Insurance
3:07 Private Insurance
4:25 Direct Primary Care (DPC)
6:53 Ancillary Policy + DPC
8:15 Commercial Insurance + Ancillary Policy
9:53 Health Sharing Ministry
10:53 Short Term Health Insurance
12:13 Tools to save on your medical expenses
18:04 Final Thoughts
RESOURCES MENTIONED IN THIS VIDEO:
www.mdsave.com/
www.goodrx.com/
www.dentalplans.com/
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What websites do you use to find ancillary policies and private health insurance?
You can use healthsherpa.com for private companies and then for ancillary policies, there are companies like United health insurance that offer decent policies. Otherwise you can just Google “accident and critical illness ancillary policies” and lots will come up.
@@VictoriaDorsano They all seem to only mention employer covered ancillary policies. Are there not private ones?
Super helpful summary. DPC seems amazing and I’ve met several docs I would use. Still- very difficult to find/navigate the ancillary type of insurance- certainly an opportunity for someone to help here. I’m still knee keep on researching this and many brokers don’t get it!
Yes the ancillary insurance can be frustrating to navigate for sure. You kind of have to look it up as “accident insurance” or “critical illness Insurance” and then you’ll find the right companies.
@@VictoriaDorsano yes thanks! I’ll keep digging! What I have found thus far are plans that cover yes accidental, critical illness, or cancer type of coverage. Yet- they don’t cover things outside that “category” so if you need an appendectomy (or similar not caused by “accident”) then not covered. Seems like insurance providers would have created coverage now to pair with DPC. I’m open to all suggestions!
I'm an independent health insurance broker an I just wanted to complement you on this video. You did such a comprehensive job of providing real solutions! Good Job!!! : )
Thank you!! I really appreciate that!
I worked for Genentech. The biggest culprits are the insurance companies.
Consider the major players in AMERICAN healthcare: Hospitals, Doctors/nurses/staff, drug makers, drug distributors and insurance companies.
Hospitals: hosting/keeping the lights on of a real facility.... NECESSARY role in the system.
Doctors/nurses/staff: running around interfacing w/patients...NECESSARY role in the system.
Drug makers: A grayer area here but they actually do make R&D intensive medicines... Could their profits be regulated/capped in a balance to not stifle innovation but reign in profits? SURE. But they also play a NECESSARY role. Making monoclonal antibodies takes serious knowledge.
Now here are the two key ways costs get inflated & where Americans get gouged. Drug makers make bulk purchase agreements with McKesson (ticker MCK $50B+ market capitalization), Cardinal (ticker CAH $20B market cap) and Amerisource Bergen (ticker ABC $33B market cap)....
These distributors make nothing, they create contracts with end users hiding the prices they pay to purchase... Google the market cap or CEO pay of each of these companies and remember they each pay a C-suite of executives crazy $ and WHAT DO THEY DO? ...(drum roll)..."distribution". Something requiring no special expertise and certainly not something a not for profit entity armed with cutting edge technology could do WITHOUT the profit motive involved... meaning cutting out all the salaries of the unnecessary executives & lowering costs...again those three companies MCK, CAH & ABC add up to about $100,000,000,000 (yes that's the correct # of zeros) of value supported by their "revenue"...and what is their revenue??...drum roll ...THE PREMIUMS WE PAY. Ouch.
They simply buy in bulk directly from the manufacturer (like Polivy or Avastin or Rituxan from Genentech) and then jack up prices to the end user hospitals, pharmacies and hence patients or rather the patient's insurance....which brings me to the REAL ASSHOLES in this train wreck of a system.
Insurance companies: What do they do? Provide a facility for people to get surgery at? Nope. Go to medical school for years and then interact with patients? Nope. Use technology to make medicines? Nope.
INSURANCE SIMPLY CHARGES PEOPLE THE HIGHEST PREMIUMS POSSIBLE AND THEN DENY/DELAY CLAIMS until people die or give up. ABSOLUTELY NOT ESSENTIAL. A NOT FOR PROFIT ENTITY COULD ABSOLUTELY ADMINISTER A NATIONAL PLAN WHERE THE REAL STATISTICS OF DISTRIBUTED RISK COULD BE RELIED ON WITHOUT HAVING TO PAY INSURANCE CEOs 7 figures.
Please Google "top 10 health insurance CEO pay" and marvel at the excess pay for merely collecting premiums and then trying as hard as they could to not pay claims. Those excesses are funded by the premiums we all pay. Absolutely not necessary. Getting rid of them would cut the costs everyone is always complaining about.
We should have a not for profit national healthcare system without for profit insurance. Sure I can hear some express fear about the cost but we'd trade our $400/month premium for a new lower $300/month tax that would mostly only be for those making over a solid threshold.
I support Bernie and all who support a national healthcare system without unnecessary middle men & the costs profit pursuits add.
How does one get in contact with an independent health Insurance broker?
@@AudreySeyboldthat’s what I want to know, I’m overwhelmed at this silly game.
@@brandonbakhtiar7451 Thank you for sharing your knowledge of how health insurance companies work. I have a question, have you ever heard of any health insurance monthly premium costing $4,600, again, per month ?
My husband needed to retire slightly early, 2 years ago, and we are paying BC/BS of TN on a individual plan, for our son, and the two of us.
I have arthritis, but no surgeries, no cancer or other major illnesses that you’d think, they would be having to pay out huge costs for.
We can’t understand why it’s so much, and on top of the enormous monthly premium, they keep hassling us, the doctor and pharmacists. For example, not letting an already prior approved medicine last month, and the month before, and another example is that they require an assessment with a physical therapy place, before approving to have, ok we did that, then after doing that, BC/BS send us a bill for the assessment $1,800 saying they don’t cover the assessment!
Every month it’s costing so much, it’s ridiculous and eating away our finances, and we’re not eligible for social security or Medicare/Medicaid… Hence my question, have you heard of any other insurance companies charging this much?
I appreciate anything you might be able to share, any ideas on how we can get a different policy that is more reasonably affordable. Thank you in advance if you do see this, since I see your comment was almost a year ago.
I’m about to transition out of corporate America back to self employment and this is the first video on a long journey. Your video drew a clear picture of the options out there. Thank you so much for this.
One of the clearest presentations on the topic, well done😊 Many insurance professionals struggle in their delivery of information in a concise and non biased way, you killed that🎉
Thanks for the info
Wow, thank you! 🙏
This is a gem of a video. I help people find the best coverage for them in the Health Marketplace, in Texas. Many people qualify for Zero premium and NO Deductible plans, and I also recommend ancillary plans for those who chose HSA plans. I even find disability plans for self-employed people who get their money back if they are never disabled.
This was an exceptionally informative and comprehensive video on healthcare options. I found myself without healthcare in between my last two jobs and could have used this at the time. I chanced it without insurance and just happened to be lucky during that time. As I look to start building income outside of an employer, being informed about my options gives me peace of mind.
So glad you found the video useful 🙏🏻
Where I live, going without health insurance is illegal. Illegal as in you can't get anything if you don't have it. Rental lease or yearly extension thereof, drivers license renewal, work through an employer, passport, travel tickets, hotel reservations, and forget about a social life. If you are a millionaire, maybe. People want nothing to do with you if you don't have health insurance, period. Your getting away with chancing it seems amazing to me from my perspective based on how things are in my part of the world. But I realize that health insurance may be extraordinarily expensive where you live.
This was so helpful, thorough, and still concise. Thank you for sharing this information!!
You’re so welcome!! There are so many options out there to make sure you get the health care you need! Glad it helped 🙏🏻
So far, this is the most helpful resource I've found on health insurance! Thank you so much!
You’re so welcome!! Glad it was helpful!
for someone who just migrated to the US and don't have any single idea with the healthcare system here, this is so helpful! Thank you Victoria! Glad ive found your channel
So happy to help! And gosh, I'm so sorry you have to deal with figuring out the mess of a health care system we have here! They definitely don't make it easy to understand!
Same here I just immigrate and I’m doing adjustment of status, my husband is self employee and I’m trying to learn the best health insurance option for us.
It can be confusing to navigate, so I hope this helps!
Thank you SO SO MUCH! My partner and I are both in the gig filmmaking economy, and new to insurance. You were incredibly helpful, especially in savings for dental!!!
Absolutely! So glad it helped!!!!
Victoria this is such great information!!! I really appreciate the breakdown of all the options available for Self Employed individuals. You made it way less scary that's for sure. Thank you for sharing😀
You are so welcome!
This was fantastic. Great editing. Great info. Concise. Thank you!
You’re so welcome!
Really glad I came across your channel.. Recently retired but still have a year before I qualify for Medicare.. This info will really be helpful in getting the gap coverage I need.. Excellent video..
Your presentation is very comprehensive. You are easy to listen to even when the information is coming fast. Thanks for helping people find resources to get by.
You're very welcome!
Wow! Great video which explains so many options for getting health and dental insurance. Thanks
This was one of the most helpful videos I’ve ever watched!!! Thanks for all the tips
You’re so welcome!
THANK YOU!!! I had no idea some of these options existed.
Amazingly thorough and straight forward, thanks!
Thanks for all the details. I paid 3k for an MRI in 2021 because I hadnt met my deductible. The hospital allowed me to oay that before the procedure and saved me 20 percent. Subsequent MRI at a preferred insurance stand alone facility was $1800. And all that after I oay 800 a month for basic insurance coverage.
Great video. Self employee here and it is very scary out there ( not to say confused). This video was very educational and I love the way you explained everything. Thanks a lot :)
You’re so welcome!!
By far the most helpful health insurance video on youtube.
So happy to hear that! ❤️
Wow, just came across this video now but so informative. Taking the leap to self employment and so much info and terms out there. Thank you.
Happy to help!
Thank you so much! I’m transitioning to self-employment and have been feeling really nervous about health insurance. I didn’t know about these options so thanks for sharing!
You’re so welcome!!
Hi! I am able to talk through some options for you I work with both private PPO plans and public plans. Feel free to email me at Stephanie.kaczynskiUSHA@gmail.com or find more info here www.flowcode.com/page/stephaniekaczynski
Thank you so much! We’ve been without insurance since January and this helps a lot!
So glad it helped!!
Really helpful and thorough. Thank you!
Great content! Most people have no clue where to look or what options are available for medical and dental coverage.
Wow! This information is much appreciated! Thanks so much for sharing!!!
You’re so welcome!!
Great video, Victoria, and VERY informative. This would help me a lot in deciding which way to go as far as insurance. Thanks!
You’re very welcome! So glad it was helpful 🙌🏽
Found your post interesting to watch. I can't wait to see your new videos soon. Good Luck with the upcoming update. This UA-cam channel is really very informative and effective.
Thank you!
thanks so much for your video, I did not know about combining plans. To come up with something that's in you budget.
Thank you sooo much for taking the time to make and post this!
🙏🙏
This was absolutely amazing video. So helpfully. I spent hours looking for decent information and you explained it. Thank you!
So happy to hear that!
Thanks for taking the time for this very informative video for someone that is about to go from employee to employer thank you
You're very welcome!
Thank you so very much! I'll be passing this information on to others. I greatly appreciate it!
You’re so welcome!
Healthcare insurance is a cornerstone in anyone's financial strategy. Ensuring comprehensive coverage not only safeguards my well-being but also protects my hard-earned investments. Big ups to everyone working effortlessly trying to earn a living while building wealth. I’m 63 and my husband 65 we are both retired with over $5 million in net worth and no debts. We started late but saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income❤
Alright, speaking in general terms, investing requires a good amount of knowledge. That's why it's essential to have a solid support system like a financial counselor, especially when picking out assets. I've been working with Regina Louise Collaro, who is an investment advisor at a registered wealth management company. I can't recommend her enough; my financial journey has been fantastic thanks to her. She's quite well-known for her services, and she helped me achieve financial stability through investments. Now, I benefit from her passive income strategies every month. So, I'd strongly suggest finding a reliable investment advisor for yourself
She is easy to find , make a quick research of her on the internet with her name Regina Louise Collaro and leave her a message .She works with anyone independent of their location
I am one of many people who has benefited from investing with Regina Louise Collaro, and you are right. When I lost my work due to COVID in 2020, I had no reason to live, and it will always be a memorable year in my life. I owe Regina my life since she made it feasible for me to live well through passive income. To be very honest, I believe she is an angel who was sent to assist individuals who are through financial hardship.😊😊😊
I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me .
Hi.. thank you for your video.. I have been on a nerd out with insurance. Lost insure due to a temporary leave from work out of state. So far I have found KNEW health as a cost share ( they are really on board with functional medicine, group visits, and are non religious/denomination) and looking to supplement with some kind of catastrophic. Feeling a good fit for my situation.
Totally recommend checking them out. Again thanks
Awesome straightforward video, thank you
I’m an independent agent. You did a great job. I’ve had every type of insurance except Medicare, but I’m a licensed Medicare agent. It’s a lot. It’s confusing and most of all people don’t know how to combine plans like you explained to reduce out of pocket costs. I would add a Health Savings Account to the possibilities for some to save money. Thanks so much for a great video! I may share with some of my clients. ❤
So glad it was helpful!
Enjoyed, liked and subscribed. Keep bringing value, you channel will explode.
Appreciate you. Thank you!!
thank you so much for these info, I appreciate this.
This was incredibly useful Victoria! Thanks so much 🙌
You're so welcome! Glad it helped!
Wow, thank you so much for this video. I've been self-employed for 6 months and tried my luck without insurance. Ironically, being someone who rarely ever went to the doctor I had an ER visit, x-rays and some other out of pocket expenses in the short span of time that I left my previous employer to work for myself. Lesson learned, now I'm on the search for the best health insurance options for myself, and this video answered basically all my questions. Thank you!!!
You’re so welcome!
Hi Isaac! I came across your comment and wanted to offer my help. I am a licensed agent specializing in coverage for the self-employed and would be happy to show you your options! Were you able to find coverage just yet?
@JGold_HealthAdvisor Hi I'm also self employed in Texas ? If you can help please let me know how I can contact you . Thank you
Thanks for great video. Looking for options for my 22 y/o daughter and this was great info. They sure keep a fog in the way of comprehending this subject.
Thank you so much for making this video, you shared so much information I have never heard of 💛
You’re so welcome! Glad it helped!
Thank you for such an informative and well done video! You're fabulous and I appreciate you.
Glad it was helpful!
thinking about self employment. Just in time. Very informative!!
Glad to help!
Thanks Victoria! Your presentation was on point for getting people to know what this racket is all about. I like how you gave us options!!
I've never had to buy "health" insurance after becoming an adult. But later on after finding out how corrupt the US medical system is I ended up dropping the idea thinking there was nothing good. After getting married, I've seen the things that could happen to your spouse and how ridiculously high these med bills can be.
Thank you this really helped me a lot. Now I know what's the best for me thanks to you!
So glad it helped!!
WOW! I am self-employed and my wife and 4 kids are about to go back to America (Been in Korea for 9 years). I was so worried about insurance but this video helped SO MUCH! Thank you :D
Happy it helped!!
Very helpful information. Thank you!
Thank you for these resources!
You’re welcome!
Thank you for this! It was very helpful and probably saved me thousands of dollars!! Thank you!
So glad it helped!!
This was VERY helpful. I find it can be hard to find self-employed/gig worker help on youtube. Thank you very much!
You’re very welcome!
Thank you SO much! This was exceptionally helpful. Really GREAT info
Glad it was helpful!
This is great information. I need to listen again and take notes!
🤓
Hey Victoria- Im licensed in 24+ states- Excellent job explaining a complicated subject simply and effectively! One note though- Private Health Insurance plans aren't usually more expensive then Marketplace plans if you're middle income or higher. Some of them actually give you reduced rates (& excellent benefits) for simply being healthy! 😉 I also have some other tips/hacks if you're interested! Wishing you all the best Victoria! -Bree
Thanks Bree!! I appreciate the thoughtful and informative comment!
Can I get more information? I’m 23 and was looking for insurance
Super helpful - thanks!!
Thank you! This was very resourceful
Happy to help! 😊
This was extremely informative and helpful, thank you!
You’re so welcome!
Combining commercial insurance and ancillary insurance is so smart! I’m so happy I came across your video! Thank you!
You’re so welcome!! That’s what I’m currently doing and it makes me feel really well protected!
I really appreciate the information. I’ve been paying out of pocket since the pandemic and it is not fun or cheap. My dentist has come up with one of those plans you mentioned but it is still expensive to get the actual work done. Again thank you for sharing.
I totally get it Monica! Dentalplans.com has been an amazing resource for me. It makes those more expensive dental procedures much more affordable!
Bless you, NEW SUBSCRIBER. As a new small business owner, I have had literal panic attacks trying to figure out which way to navigate through this medical insurance maze. You just made it so much more clear, and give me an idea of options I didnʻt know existed. Thank you so much. SA
You are so welcome!! Glad to have helped 🙏🙏🙏
And stay tuned! There is a new solution I just learned about that I’ll be talking more about shortly in a new video!
@@VictoriaDorsano as a New Sub, I am so looking forward. Mahalo again.
@@VictoriaDorsano I’m here in Southern California, and a nose bleed is equivalent to a car payment….lol
Yikes!!!
So much new useful info for me. Thank you so much.
You’re so welcome
Dental plans are a lifesaver. I recently saved almost 50% off major dental work.
So so so incredibly helpful!! Thank you!!!
You’re so welcome!
Awesome video. Thank you.
Very informative! Thx!
Wow, the last part of ur resource link r most helpful. 👍🏾
Thx u! 🙏🏾
You’re so welcome!
I work for myself and just started. Im not making a whole lot. What health insurance would you recommend me in my situation? ❤ right now I don’t have health insurance
@@Aphrodite-goddess If u r low income, u can Google for low income health insurance & car insurance at the state u use for an address. I'm in CA so I hv Obama care for health & low cost car insurance.
@@GHE2005 Thank you 😊 so much
This was really informative. Thanks so much!
You're welcome!
I extremely like the video. Very helpful and informative. Thank you very much. It is presented so well too. Great, positive work.
Glad it was helpful!
Very nicely explained. Keep up the good work. Thank you.
Thanks, hope this helps!
Thanks for the help,
My wife didnt qualify because the VA sends disability funds, even though it all goes to bills.
We take care of our 101 year old grandmother and since shes in our home, so they also use her as a income.
We get strike for helping helping.
Im going to look more into this.
Excellent video!!!! Thank you so very much!!
You’re welcome!
Incredible video! Thank you so much
You’re very welcome!!
Great info. Thanks for sharing this!
Glad it was helpful!
Thank you so much....exactly the info I needed
So happy to help!
thank you so much. this is exactly what i needed
Happy to help!
thank you I didn't know about ancillary
Thanks so much for the video, it is really helpful
You’re so welcome!
Great tips! Much appreciated Victoria.
Happy to help!
very informative. Thank you for sharing
You’re welcome!
Thanks for sharing your tips. Here in Texas health insurance plans on healthcare market do not have a PPO option.
texas is shit. speaking from experience.
This is amazing! You rock :)
Thank you!! 🙏🏻
Great video. I’m new to this adulting thing.
Thank you so much for the all information
You are so welcome!
THIS WAS GREAT THANK YOU SO MUCH!
You’re so welcome!!
Extremely helpful!!!❤❤❤
Glad it was helpful!
Thank you well explained 👍
You’re welcome!
Excellent info!
Thank you!
I had to subscribe. You may just saved me!!!
Appreciate you! 🙏🏻🙌🏽
Great video thank you!
You’re so welcome!
Great content!! How do you get access to dental and vision insurance ? What would you advise?
Dentalplans.com offers vision benefits with their plans along with their dental benefits. Although they aren't insurance, they contract with many providers to offer HUGE discounts on services!
Thank you for sharing this information. I have a question regarding purchasing insurance for myself and my spouse in Texas through the Marketplace. I estimated our annual income to be between 25-30 K, which might qualify us for a large rebate. However, I am wondering what will occur if our income ends up being below the minimum threshold required to qualify for the ACA rebate, such as under 15 K by the end of the year. Thanks
You’d have to pay that rebate amount back when you pay your taxes. That’s all that happens.
Awesome video!!!
Thank you!
very good video, thx
I wasn’t anticipating making a lot when I quit my job. So I got the government subsidized health insurance and then towards the end of the year I got a new client and made a lot of money and did not make any changes. Low and behold, I owe the government approximately $2500 back when I filed my taxes
Yeah, that’s usually what will happen! But I typically like to preserve cash flow initially, then if I need to pay back the subsidy later, oh well. But in either case, it’s an unpleasant bill. Congrats on the new client though!
That's a great problem to have. You kept your money and hopefully, YOU made interest on it for a few months. Well done!
Thank you!
Thank you!😊
You're welcome!
Cannot thank you enough for!🙏🏽
Thank you so much!!!!!!