Health Insurance Options for the Self Employed or Are Leaving Your Job
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- Опубліковано 2 сер 2024
- Are you self -employed or looking to leave a full-time job that offers you health insurance benefits? Health insurance is a confusing topic and the fear of not having health insurance often keeps people in jobs they don't like. In this video, I will show you some of your options for health insurance in case you are looking for health insurance other than through your job.
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We have been members of a cost sharing ministry for years and have had a very positive experience! Thanks for the video!
Thank you for sharing your experience!
I love the content you posted, it is always super helpful and informative. Keep posting such an amazing video, I love watching all your videos.
I extremely like the video, man. Very helpful and informative. Thank you very much. It is presented so well too. Great, positive work.
Sorry for your loss the same thing happen to my mom, perfectly healthy went to the hospital at 57 GBM, thankfully she had insurance. Thank you for this information very helpful, many blessings to you and your family
Thank you Jac. Sorry to hear about your mom. GBM is a terrible disease and what it does to people. Wishing you the best.
Thank you so much! Extremely helpful video
Glad to help!
Man thanks so much for this video, super helpful!
Glad it was helpful
Sorry about your Father man, thanks for the help really appreciate it
Thank you Brendan! I appreciate that. Glad you found the video helpful.
Thank you for sharing!
Great video. Thank you for making it.
My pleasure, Jeremy! I am glad you found it helpful!
I was thinking about getting Cobra, but I just checked with my HR and its $600-750 per month for one person!!!! So looking for better options at this point.
COBRA is definitely not inexpensive. It is at least worth looking at other options.
Get a short-term playing until you decide on what you want.
Super helpful!! Thank you. Unfortunately just before I watched this I put my number in two different websites and I have had 3 different people call and text me lol. I screwed up.
Anyways thank you for talking about this. I wish more and more people addressed these issues. Health insurance cost is out of control.
Glad to help. Hopefully the calls don't get out of control ☎️
Hey, I found a lady to help me once I became self-employed. She was pretty chill and I got what I needed
Thank you
My pleasure
Thanks for this video!
What made you choose cost sharing ministry vs the marketplace with tax credit incentives
Looking to possibly leave my job to start an in home daycare with my wife. The plan is to have my wife start off first while I still work and analyze if the income coming in makes sense and if leaving my current position will boost our income if I help her full time by bringing in more children. The only way I leave is if we work numbers and the amount at the end of every month is more than what I am making right now at a steady consistent rate. The biggest fear factor I have is that I have health/dental/vision insurance for all of my family. Leaving hurts my gut because while I was shopping around for healthcare for my family the least expensive one I found was around 805/month and that was just for HEALTH insurance.
Thank you for sharing your story. Depending on your beliefs (and health background), you may want to look into a cost sharing ministry as opposed to traditional health insurance. Regarding the risk, the question I would ask myself in your shoes is whether or not this opens doors to potentially additional profit/income opportunities...
Hi Manchester - How is the home daycare working out? Depending on your situation now (since it has been two years) your options may vary, and yes, health coverage can be pricey on the private side compared to a company plan that pays a lot of the cost for you. First check would be to see if you'd qualify for a significant subsidy. If not, or the subsidy is minimal, I'd check out the private underwritten plans. There are a couple that are available with lower premiums and better benefits because you have to be healthy enough to qualify to get on them. Did you get the health coverage all figured out? What did you end up going with?
I see people talking about HSA in the comments what is that? Is that a health savings plan for mostly PPO insured? If so how would I get on that plan. Currently at a job that makes me unhappy and I’m not fulfilled. Ready to spread my wings but my husband is so worried about me leaving because he got really sick one day. And I have great health insurance now. I work for a hospital now.
I live in LA. I want you to do a video about ministry healthy insurance I want to learn more about it.
This video really sparked my interest thanks so much.
HSA is healthcare spending account. It has tax benefits. There are some key stipulations and only goes with certain types of plans. Best to talk to an agent and/or your accountant.
The worse to be is a middle class. I dont make enough money to have a good plan just some crappy insurance offered by my job. And I cant get a better plan on the market place because I "make too much money" lol I am still looking for that money.
It is certainly not a perfect system. You may want to look into Liberty Healthshare. That's what my family is currently using.
bills over $1,ooo,ooo. and he died in 16 months. thanks for sharing that I was thinking about getting some health insurance now that I'm 60 but that comment made me remember the scam of health care what a f-ing racket
It is definitely not inexpensive to be sick (especially without some coverage)
It's a scam. My brother-in-law makes millions a year while everyone else scrapes by with patchwork insurance or poverty insurance. It's unbelievable that our country can't make health insurance affordable for everyone.
Thanks for the video. Question: I’m currently enrolled in an employer sponsored health plan which is effective 6/1/22-5/31/23. However, as of 1/1/23 I’ve become self employed, working for the same company. Question: do I need to unenroll from my current employer sponsored plan or can I wait until the benefits expire on 5/31/23 (and purchase a new plan on my own after that)?
Thanks
Looking at leaving my current position to start my own business, but have no idea where to start when it comes to health insurance needs. Right now I have BCBS PPO and pay 120/wk. Not terrible but I can only imagine that cost would rise a lot with paying for a plan on my own.
Wishing you well with the business. When you leave the job, you will get an offer for COBRA, and it will likely be much more expensive than what you are paying now.
Lol 120/wk…that’s 480/month…that’s the same rate on the ACA marketplace for a gold plan on healthcare.gov…what’s your yearly income?
@@BlakeTedKord 98... also 4.33 weeks in a month
Hey, I found a lady to help me once I became self-employed. She was pretty chill and I got what I needed
I really thought there would be group insurance options within professional organizations. For example, if insurance agents had a professional non profit organization then they could legally offer their own group health insurance to members.
It would make for a nice option.
What is the cost sharing ministry and how much does it run compared to the 600 month 🤷🏼♀️
Hi, thanks so much for your nice video, especially clarifying the short term medical. A couple of things. I am an atheist and cost sharing ministry's for atheist seem to be pretty scarce :). That said I was curious about them as they seem to be an interesting model given the current market with insurance companies. I have read a few recent articles about these ministries since they are not regulated. There are some pro's to the model but your example of your dad seems to point to a weakness in that model. Correct me if I'm wrong but had your Dad been enrolled in one of these health ministry groups, his coverage would not have been 100% covered leaving your mom and possibly you & your sister to handle the outstanding bills. So that is a little problem, I think. I am currently on COBRA(no cut off) through my husbands job with the government but the premiums are so high now that I will need to leave the COBRA system. My problem is that I live in Florida and my son who is 23 lives in Colorado. Under the Cobra plan we are covered anywhere in the US and also overseas. We also have property in Panama. What should I do? What exists in the market to cover us both as well as overseas? Maybe my question is beyond the scope of your video, but thanks anyways for your very nice vlog. Cheers!
Glad you found it helpful. From my perspective, Liberty Healthshare is probably the most open of the cost shares. There is a limit of $1 Million. In my dads case, I am sure it all could have been figured out, and there are ways to get on traditional health insurance as well (like getting on during open enrollment).
Health sharing programs are NOT health insurance. they are not obligated to pay your bills. they say that on the website in disclaimers.
I have never heard about Cost Sharing Ministry
Hope this helps as a good option
What would you recommend for people who aren’t working enough hours at their job and don’t qualify for insurance with their employer?
Worth looking into either the Marketplace or a cost sharing plan
Do you still have Liberty Healthshare and do you know anyone in south florida that I can speak with about health insurance?
So I just lost my coverage last year(end of 2020) after turning 19. Seeking vision and dental coverage at the very least as of right now. I don’t know too much about how all of this works but based on the video it seems like the last 2 plans would be where I fit.. any suggestions?
I recommend speaking to someone.... BUT get referrals from someone you trust to speak to someone either in person or by phone. In most cases, it is waste of money on dental and vision if the costs are not supplemented by an employer. Meaning if you are on your own it is better to just self-pay, and a lot of dentists have their own plans (if you ask).
Hi Frankii - I hope you got this figured out! If not, depending on your income, a plan with the marketplace might be best since you'd likely qualify for a subsidy which will bring down the cost of your plan. Sometimes significantly. If you are healthy and want a couple more bells and whistles (lower deductibles and pays for Dr. visits and such right out of the gate), you might want to go the route of a private underwritten health plan. Were you able to get this figured out?
I have 1 week left at my job and need insurance for just me. My kids are covered under their mother’s plan. I will be selling on Amazon. What do you suggest?
Congratulations! That's exciting! I recommend getting a quote for COBRA, finding out if you are eligible to get a special enrollment on the same plan as mom and kids, and looking into a cost sharing plan like Liberty Healthshare (assuming you are healthy and dont have preexisting conditions). Depending on your age, an individual plan might be the most expensive route unless you're eligible for a tax credit subsidy. Good luck on your exciting new journey!
Hi Eric! What plan did you end up going with and are you happy? Some new PPO plans have come out in the past couple of years that are lovely, but are private so don't qualify for a subsidy if you went the marketplace route. I hope your business has been so very successful for you!! Did you go with your COBRA or an individual plan?
I was offered a full time job and when i asked about health insurance they said not everyone there has it and they would have to put me on the line with them to see if they could add me. I have no idea what this means... Help
In the US if they offer health insurance, they have to offer to all fulltime employees. There is typically a 90 day waiting period before you can sign up. That could be what they were saying.
If i discontinue my insurance through my employer... will COBRA reach out to me? Or do i contact them?
You should get an offer from either the insurance company or your HR
How is the Cost Sharing Ministry going so far? BTW, great video! Thanks so much for sharing your insights.
Thank you Jimmy! So far so good with Liberty Healthshare.
What would you recomend for a 40 yr old healthy male (early retirement pension although no medical insurance)travels internationally yet would like coverage in the event of an medical emergency.
You may want to look into a cost sharing ministry. I use Liberty Healthshare. If you aren't comfortable with that, you could also look at a short term medical policy. Check terms of any policy regarding the international benefits.
@@MaximizingEcommerce thank you
so what's the best health insurance plan in Florida. Most all stink limited providers and high deductible make it worse
Depends on the county live in
I drive truck for a living. I have insurance through employer. I’m thinking of becoming owner operator and I’am worried about insurance for my family. What would you recommend? Thank you
Follow your dreams.... with as many insurance options as there are out there, employer plans don't have to be what keeps you in your job
Have you considered short term medical insurance? Generally speaking they have nationwide PPO coverage which would be good since you travel so much for work. They're much less expensive and can offer many of the same benefits as marketplace plans. If you don't qualify for a tax credit for the ACA plans, it might be a good option. BUT, you mentioned you have a family. If you have very young children, STM plans may not be ideal.
I have several long-distance truckers as clients and the plan I have is a PPO, good all over the country! It's "Open Enrollment" all year long and is very affordable. Check out this short video and give me a call; RealHealthSavingsPlan4Less.com I look forward to helping everyone I can! God Bless.
I feel bad for your father. Even though he had health care coverage he still died. Except the hospitals and specialist made out like bandits.
Thank you for that.... and thankfully it was more money moving between the insurance company and the medical system.
Can a self-employed individual set up an HSA?
Yes, as long as you have a qualified HSA compatible health insurance plan.
@@MaximizingEcommerce If someone already has an HSA when leaving their job, would you recommend it over traditional healthcare options?
@@PogieJoe Assuming the HSA is a group plan, it might depend on the cost of it once it is a COBRA plan (same plan just not subsidized by the employer anymore). With that said, there are good tax benefits of HSA.
I had an unsolicited call . I told him all medical issues. He said I need you to lie or you will be turned down and it's ok if you lie You dont get in trouble I do . I said no way no thanks.
How can a foreign citizen ( in the visa process btw) get health insurance based on an Amazon Fba business (registered llc) ; i cannot get it individually by any measure so i was wondering if i can do it by llc since i need to have eye and nose surgery and cannot afford pying the high out of pocket cost of the American medical system 😢?
Depends on your visa status... I would call an agent or the health insurance marketplace
Any recommendations for a 24 year old self employed individual?
If youre healthy, it could be worth comparing traditional insurance with a cost sharing ministry
I don't know if you can help me or not? I am looking for ppo health insurance that has good coverage for substance and mental health treatment. I am looking for myself and for alot of people my age and Lil younger 35-41. If you can help me I'd appreciate it. I've lost so many due to the fentanyl crisis . Ty for your time
Sorry to hear that. Check with a local agent
when self employed, the market place will give me a quote based on my income as a bussiness owner or all the money the business makes?
Generally... they are looking for your Adjusted Gross Income.
@@MaximizingEcommerce so for what I get paid as a bussiness owner. My salary?
Total household income... Adjusted Gross Income. They will reconcile it when you file your tax return. You may want to check with your accountant
hi, i just lost my job, can i get cobra and cost sharing ministry, also my kids are in medical, but i need to add them in my insurance, due to my income is high now. thanks
Sorry to hear about your job. If you had coverage at work, you'd be eligible for COBRA. Cost sharing might be not be worth having if you have both.... unless you have preexisting conditions and want to begin any exclusion periods while on COBRA. It is worth speaking with someone to learn your options.
how much extra do u have to pay with cobra? I've aetna PPO and I pay about $60 every 2 wks, if I stay with the same policy and cobra, what will be the increase?
Depends on how much your employer contributes. Likely it will be at least double the amount you pay now although I bet at that price they are paying more than half meaning you would pay cover their portion plus a 2% admin fee. Generally COBRA is paid monthly instead of every two weeks.
Hi. Are you still happy with Liberty cost sharing ministry?
My wife has taken on a job as a teacher and now has employer benefits. We might consider Liberty in the future. I would note that there prices are much higher now than they were when this video was recorded.
Deductable is met but I want to quit.
COBRA would be worth looking into
You build a web of new ideas. So do I.
The ruling work field will never stop being rural roads, streets, alley and vacant lot litter and public feces and urine clean up. Nobody quit peeing in public or the hygiene jobs will narrow to street sweepers, recycling and trash cans. Otherwise, the field is exoansive and as a write off, covers a kazillion of fun things that freshen, cool and add clesn attractions to your counties and cities. Yes! Go scrub store walls and walks! Get your ideas up. Much is beneath the tonne umbrella of health department in California and where in the States it's needed to protect flesh bidies from stresses of every single kind! Don't scrimp. Splurge there. Houses with reflective facades on drivers? Public safety is health. It reduces spilled blood on the roads. Go down that because that's immensely huge and too many if us are stressed waiting St home to get social and in fun workforces that suit our creatively geeky hygiene passions.
Beware tulare countys airways. Locals may pull needless tons of tracker identities while s/trolling.
I hear these folks outside my bedroom window yet I don't remember meeting with them about trolling me via web. They cause fires wherever I go.
Are you still with sharing ministry?
My wife now has a fulltime job and we recently switched to an employer plan
HSA!!!!!!!!!!!!!!!!!!!!!!!!
For the love of all that is holy. Never give them your phone number. Never.
Not unless someone really likes the sound of a phone ringing...
another vague boiler plate health insurance video
Did you have a specific question?