We are self-employed and have always paid for our own health insurance, but it is rapidly becoming way too expensive. As we are both over 40, the cost increases every year, and is now up to 350.00 a month, no dental, 1500.00 deductible a person per year, precription coverage with a 12 dollar co-pay. We pay for all doctors office visits until the deductible is reached.

This is crazy!!! There has got to be something out there better! We have money in savings to cover up to, say, 5 or 6 thousand dollars worth of medical expenses, we need something to cover over that amount, for major surgical stuff and the like.

Does anyone have this type of coverage? Tell me about your experiences with it, and any phone numbers, websites, or addresses would be much appreciated.

-- Annie Miller in SE OH (annie@1st.net), November 03, 2001

Answers

Annie, google returns lots with the search phrase "Catastrophic Coverage Medical Insurance".

-- Don Armstrong (darmst@yahoo.com.au), November 03, 2001.

Wow Annie, what company is this? We pay almost twice that for only major medical (which we virtually never use anyway cuz we almost never go to doctors) with a $2000 deductible.

-- Earthmama (earthmama48@yahoo.com), November 03, 2001.

We will lose health care when I leave my job (in the next two years). I have Cobra rights for 18 months I think, but after that we're on our own. I've been wondering if we brought a large number (thousands) of plan members as a co-op to a large health insurance company, if we could get better than individual rates. Anyone have any idea?

-- rick K (rick_122@hotmail.com), November 03, 2001.

Understand where you are coming from Annie... I have the extra "house" insurance as I call it... cuz the hospital did tell me they would put a lean on the house, if I own it (which I do free and clear) to pay for the medical services provided...

I have Mutual of Omaha... I'm over 40.. and have 3 kids on the policy... pay $268.00 per month with a $5000.00 deductible..

Does anyone have a cheaper policy??? I'm tired of going up 25-40% each year... until the kids are out on their own... I'm going to have to have it...

-- Yarrow (lovelyladyofrenaissance@hotmail.com), November 03, 2001.

We have State Farm Ins. catastrophe coverage for major medical expenses. We pay about $350 per quarter, which covers only major hospitizations with a $5,000 deductible per family per year. There are 3 of us, 2 adults just over 40 and one 4 year old with no major health problems. We pay all our own doctor, dentist and eye doctor visits each year as well as prescriptions. We look at it this way: we can afford to pay regular medical costs because we are and try to stay pretty healthy, but anything over $5,000 would break our bank. That's the only reason we carry this coverage (and the fact that we think medical costs are way above what they should be anyway!). However, we were recently informed by State Farm that they will no longer be writing new policies, only servicing their existing policies. So we can not make any changes or additions to the covereage we have with them. We are both essentially self-employed and are always looking for other health insurance options.

-- Rose Marie Wild (wintersongfarm@yahoo.com), November 03, 2001.

I have a policy with Golden Rule out of Indianapolis. Very happy with it. Costs me and my 16 year old son $228.00 every quarter (that's $76 a month!) with a $1500 deductible. I'm 42, female, and live in Michigan, and have had the policy now for nearly 2 years. I believe I found it through www.einsurance.com on the web.

This is not a real e-mail addy so don't contact me! Also, this is the first time I've ever posted here, but I read the forum every day and love it! God bless you all and good luck!

-- Q.W. (qwerty@qwerty.com), November 03, 2001.

Maybe we should all go to Maine, or write to our State Legislator. Maine is voting this month on adopting a state socialized medicine program. Funny that the only opposition has been from the HMO's.

-- Kathy (catfish201@hotmail.com), November 03, 2001.

We're self-employed also, Annie. The only insurance coverage we carry (besides life ins.) is accident ins. through Combined Ins. Co. It covers just about every type of accident, work or home related, and cost us $480.00 per year. The sickness policy would add another $300.00 or so per year. So we just pray that we never get sick :-)!!

-- Marcia (HrMr@webtv.net), November 03, 2001.

You might look into Medical Savings Accounts. You use a very large deductible and have an IRA-like account that you fund to pay your deductible if you need to, otherwise it's saved for retirement. You can check NAABC or MSAPage for more information.

-- Jennifer L. (Northern NYS) (jlance@nospammail.com), November 03, 2001.

Please consider checking out the National Association for the Self- Employed (NASE.com). They have a policy that you pick and choose from. You can choose only the most basic hospital coverage, or you can add vision, dental, wellness, prescriptions. We switched to them when our old catastrophic coverage went skyhigh. Oh, and you can pick the deductible on whatever sections you choose (high or low). If you call them they will connect you with a person in your area who will call you and visit. E-mail me and I will give you the name and number of my guy here in WV.

-- Anne (HealthyTouch101@wildmail.com), November 04, 2001.

Sorry---that's NASE.org for the National Assoc. for Self-Employed.

-- Anne (HealthyTouch101@wildmail.com), November 04, 2001.

Don, I know google would turn up tons of companies, but I prefer to deal with a company that someone has already had experience with and actually likes, there are so many bad companies and policy issuers out there.

EM, we use an owner-operator group plan out of Missouri, their number is 1-800-715-9369. I don't know if they underwrite non drivers or not, but you could try. Years ago they had cheap rates, but now that we are older, it has gone up every year!

QW, thanks so much for the information, and welcome to being a contributing forum member, speak up more often, don't be shy ;-) !

-- Annie Miller in SE OH (annie@1st.net), November 04, 2001.

350$ a month pays for a lot of doctors visits! If you were to basically just sock this away, you could pay for anything, unless you are very ill folks, or had a major illness. We carry only hospitalization, and even then no pregnancy which really lessens the amount, your 350$ a month times 12 would more than pay even the highest of deductables yearly. We are also very healthy and self employed. I did/do get 24 hour accident insurance for my kids, just not though our schools lousey program. Now in our mid 40's we are glad we have our insurance, the rates for new policies would kill us! Vicki

-- Vicki McGaugh (vickilonesomedoe@hotmail.com), November 04, 2001.

This is a very interesting thread. In my "day job", I am a school teacher at a land grant university. I am FORCED to participate in the state health insurance program which sucks big time (both the program and the fact that I am forced to participate). I don't have the option to shop around or make much of an adjustment to my 'plan' (a stinkin' HMO, that denies most things on the first try just because many people will just accept that and walk away and not fight them. That aspect of human nature or the American Culture nets them a lot of money.)

But, there are some insurances that most people should have unless you have enough personal wealth that you can afford most anything. My sister-in-law is a cancer survivor and her cancer policy saved their home and the business they own. If you live long enough, it is very likely that you WILL have cancer, heart disease or a stroke. I just hope I die quickly when the time comes because I'd like to leave my kids something and school teachers don't normally amass much personal wealth. I don't want to spend what little we have on a lingering death.

-- Egg Farmer (not@home.com), November 04, 2001.

Health care is a right, not a commodity like cars or stereos. I'm a cancer survivor (leukemia when I was 20-that was 19 years ago), and I'm a health care provider. Maybe there are some things "government" should be a part of. Does anyone know how much the insurance industry spent Lobbying against a national health care plan? Health care is a right, not a commodity.

-- David in WI (drdati@MWT.NET), November 05, 2001.

This article from The Dollar Stretcher has another interesting way of looking at healthcare.

http://www.stretcher.com/stories/01/011105h.cfm

-- GT (nospam@nospam.com), November 05, 2001.

44 yrs old, 4 children, never ever had medical costs anywhere close to the cost of insurance even when we had insurance through employers...anyhow, does there exist catastrophic medical insurance for individuals that isn't just a rider on existing coverage? Just catastrophic coverage by itself? That's all we would need. Thanks.

-- Raja David Adams (mahadavid2001@yahoo.com), December 01, 2001.