Individual health insurance policies????

[PaulS]

Be careful if you see the words "association" or "trust" in the application. If you you have to join either of those two to get the policy, be careful.

[cheferson]

Looking into BCBS. There priemiums look to be about $198 with $400 deductible and max out of pocket of $2500. Even if i had to pay the full deductible and the $2500 i still would be ahead seeing im paying $565 a month now!!

[luds]

Originally Posted by PaulS

Be careful if you see the words "association" or "trust" in the application. If you you have to join either of those two to get the policy, be careful.

Most health insurance companies that are part of "associations" have much large provider networks for what I can tell and typically health "trusts" have lower premiums and better benefit packages because a trust is just a way of grouping people together to negotiate lower rates. If those definitions are correct I couldn't disagree more.

[chris L]

man Im glad I work where I do .

[PaulS]

Originally Posted by luds48

Most health insurance companies that are part of "associations" have much large provider networks for what I can tell and typically health "trusts" have lower premiums and better benefit packages because a trust is just a way of grouping people together to negotiate lower rates. If those definitions are correct I couldn't disagree more.

A trust or an association is a group of people of like mind who band together to get insurance and do other things - think of an union group. However, some associations are formed solely for the purpose of getting insurance (think of the air breathers association whose only requirement to join is that you breath air).

If the group is large enough, they will "self insure" (that is hire an administrator to admin. the policy and pay claims on behalf of the company). With a union group or a true employer it is not a problem. Those groups collect premiums from the members and will also put in some $ themselves. If the groups claims exceed the premium (either collected from members or contributed from the company/union) the company or union will put in the rest.

However, if it is not a true group or assoc., and the claims exceed the premium, who is going to put in the extra cash?

[luds]

Good point. Fortunately I have not seen that happen but self insured groups' benefits are usually also more strictly enforced by the health insurance companies that they often pay to administer them. Probably exactly for that reason.

Fun stuff to talk about. :-(

[reebok]

Chef I think the only company approved to sell individual plans here in Rhode Island is BCBS of RI. It's not cheap. Where did you get those numbers you mentioned?

[cheferson]

Originally Posted by reebok

Chef I think the only company approved to sell individual plans here in Rhode Island is BCBS of RI. It's not cheap. Where did you get those numbers you mentioned?

Got those from their website. Thats the premiums for someone my age for their 400/800 plan.

[reebok]

Originally Posted by cheferson

Got those from their website. Thats the premiums for someone my age for their 400/800 plan.

Oh, I forgot how old I am. Age discrimination! And I remember too maybe they don't take you on if you are eligble for a Cobra plan.