On the Hunt
Finding health-care coverage that's just the right fit for you
Q: I need an affordable
health-care plan that will cover pre-existing illness for
self-employed business owners. Where can I find one?
Name withheld
A: Some states have laws
that require insurance companies to cover people in situations like
yours. For example, Colorado requires insurance companies to offer
coverage to self-employed people who would normally be declined.
Washington makes insurance companies sell individual health
policies to anyone. And Florida guarantees individual health
insurance coverage to "eligible" individuals.
Find a knowledgeable insurance agent who will work and solve
problems with you. However, expect guaranteed coverage to cost 10
to 50 percent more than regularly issued insurance. There may also
be a waiting period before pre-existing conditions are covered.
Here are some other possibilities:
- Affiliate with an employee leasing company that has a health
plan that will cover your conditions. For instance, the SOHO Resource
Group is worth checking out.
- You might find a plan that's more affordable by taking a
very high deductible. Some are as high as $7,500. Be aware that
this increases your out-of-pocket risk if you become ill or
injured.
- If you're desperate and willing to sacrifice time from your
business and personal life to be eligible, you may get coverage by
joining a group that insures every member without individual
screening. For instance, if you enroll as a university student, you
can participate in a student health plan. Or, try working enough
hours as an employee somewhere else to qualify for that
business's health plan.
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