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Thread: Health insurance

  1. #1

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    Health insurance

    Health insurance

    This came up in another thread and it got me thinking....well I guess more wondering.

    First I don't want this thread to become a political discussion! Only post practical, posable, ideas that would not call for government change.

    So that sad:
    Health insurance has long been a problem for many restaurant workers, and from what it seems is knife makers are in the same boat.
    I have worked at small places that provided coverage. It seems a small business owner can set up a plane for his employes, only need a hand full of people from the way it looked to me ( last place had I think 7 or 8 on the plane)?

    I have also looked into more then once buying my own plane, never did because the cheapest I have ever found was between 700-1000 a month! So in my book buying a personal plane just not seem reasonable, cost are not affordable and benefits don't out way the monthly cost of those plans.

    So here is the topic of my thread:
    Is there a way to set up a affordable plane? I know some unions and guilds set them up, at lest I think they do??
    Could one create a online group say " united food survive forum " and then allow it's bored members to buy into a insurance plane? It would seem to me that this type of thing would be of interest/ help to many in the business and that the more people that joined up the better the rates would get?

  2. #2
    On the surface I like this idea. I'm without and desperately need coverage for the family.

  3. #3
    There are groups that do that, but the costs of setting it up, upkeep, inevitable legal fees, fighting companies to get the promised benefits make it burdensome to do it cheaply.

    There was an intentional Christian community in Philadelphia that had a program where everyone paid into a pool according to their ability, and withdrew from the pool for emergencies according to their needs. This, of course, is tough to run without a strong, mutually shared moral grounding and trust. But the advantage is that it meant people with little means and the good sense to stay as healthy as possible never wanted for medical care when the need arose.

  4. #4
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    If you own your own business I'd say just get a catastrophe plan that has a high deductible and set up a Health savings account to do the rest.

    There are groups that do what you mentioned but as he said it really isn't all that much cheaper in the long run.

  5. #5
    Senior Member TamanegiKin's Avatar
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    I'm currently seeking different health care options.
    My current employer offers no insurance. My plan through a previous job was about $140 but after fifteen months it is now $391. Somewhat of a jump, one that I can't afford as a cook. Not to mention I'm due for surgery in less than a week. Health insurance for me at the moment is my biggest expense aside from rent, sucks but It's a necessity. I plan on doing my homework on independent coverage but am skeptical that I'll find anything good. If I find anything I'll be sure to post.

  6. #6
    Quote Originally Posted by rahimlee54 View Post
    If you own your own business I'd say just get a catastrophe plan that has a high deductible and set up a Health savings account to do the rest.
    Oh yeah I forgot to add that. A HSA is amazing! Triple-tax free money is hard to pass up.

  7. #7
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    working in the insurance field I wish I could help you guys out. As I'm not in anyway responsible for selling plans or creating plans I can only say a few things relating to insurance.

    While expensive it really is a necessity (even to us with free health care in Canada). There will be plenty of group plans out there for you to buy into (including starting your own, or one run by the company) however don't expect fee's to always be cheap and claims to always be easy, that is of course the nature of things.

    You don't also have to look only at straight health care plans (i.e monthly fee for claimable objects) there are variety of plans that imho there are better plans out there including: mutual fund plans with withdrawal benefits (very big risk due to market volatility) or variable claim plans (similar to a monthly fee plan but you can vary your coverage on a month to month basis to a certain period).

    The only issue that may arrise is at times a company will reject a group plan buy because you don't fall under the definition of a group (i.e union, work force, family)
    this while seems unfair adds risk to the company. There are ways around this however.

    I have quite a bit of experience as I do work for a Canadian owned US company and will try answer any questions as best I can. With that said I have not priced a product in a long time and am not always up to date with product standards.

  8. #8

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    Let me know when you find an answer.I have no insurance and not for lack of trying. Being diabetic I am automatically disqualified from every plan.

    -AJ

  9. #9
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    You might want to contact an insurance broker, as they usually have a lot of different providers and plans at their disposal.

    We provide BCBS PPO coverage for our employees, and the monthly premium is about $550/ worker (which we cover). But if an employee needs to cover a spouse or family as well they need to pay that portion, which is $400-$700/ month.

    Each year one of my business partners looks for ways to cut our insurance costs. So we sift through opetions of higher deductables, lower total payouts, switching to HMOs, etc. But in the end we continue to suck up the 15%+ yearly premium increases and maintain the same level of coverage.

    I talked to a carpenter the other day who has a similar BCBS PPO policy (not part of a group, though), but with a much higher deductable ($2k, vs the $200 for our policy). His monthly cost is about $200 -- which is far less then we pay. So we are actually paying $4,200 more per employee each year for an $1,800 lower deductable. Boy, that math does not work well -- we would be better off going w/ a policy like his and giving our employees $1,800 raises!

    The carpenter gambles that he won't need too many emergency room visits. One saw accident about 2 years ago ran $3k+, and that was only for a visit to hospital and some stitches. So his total outlay that year was $2,400 in premiums + $2,000 deductable, which was still less then we pay per employee just for the premiums.

    Deciding to stick with the expensive PPO policy is currently proving to be a good thing though (sadly), as the third business partner was diagnosed with one of the worst cancers early this year and the insurance allows him to go to a premier cancer-treatment hospital and has been covering the bulk of the chemo and radiation costs.

    Health insurance is not cheap, but the alternative could be a lot worse. The cancer-related bills have totalled over 10 years worth of premium costs so far, and there will be quite a bit more before all is said and done.
    __________
    David (WildBoar's Kitchen)

  10. #10
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    Quote Originally Posted by ajhuff View Post
    Let me know when you find an answer.I have no insurance and not for lack of trying. Being diabetic I am automatically disqualified from every plan.

    -AJ
    That is one of the toughest things right there. It's the kind of situation that often forces someone to accept employment somewhere where they really do not want to work, as it is the only way to get coverage.
    __________
    David (WildBoar's Kitchen)

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