Independent Contractor - Health Insurance 1

[Manorville]

Are there any New Yorker's here that can provide some advice on Health Insurance in NY for Independent Contractors? I may be accepting a contractor gig and I live on Long Island. I've been researching Health Insurance on the web but I'm not sure if I'm going about it the right way. Seems expensive (as expected), but I wanted to know if there are any NY contractors out there that can refer me to a good insurance plan/company. I also think that I would be eligible for Cobra from the company I would be leaving but am not sure if that's the best way to go. Any assistance is appreciated.

 

[Noway2]

I have a friend who is a (self employed) contractor in Ohio. He says that he got his insurance through COSI (I believe it is available in more than OH, so it is worth checking). It is a pooling of small business owners to get a group negotiated rate. He says he has been happy with both the rates and the coverage.

 

[Manorville]

Thanks so much. I just did some research on their website and it seems that COSI is only open to Teachers This is helpful though. I think I just need to find a group similar to this in my area. Thanks again.

 

[Noway2]

Hmmm, that is odd. My friend is an Engineer, not a teacher. I tried looking up COSI and got a bunch of bogus links from places in India (URL squatters ?).

At any rate, I would be interested in knowing if you find a good source (especially if they are national).

Sorry the COSI didn't work out.

 

[Manorville]

Oh! I may have been looking at the wrong site. Not sure. Take a look at these links and let me know if you think this is the same thing. I'll definately keep you updated if I find anything.

Coverage:

http://www.cosi.org/volunteer-employment/employment-benefits/

Requirements(see bottom of page):

http://www.cosi.org/members/member-benefits/

 

[JCreamerII]

COBRA may be a good short term alternative for you. Have you received a COBRA notice yet? If not contact your old employer, if they had over 20 employees and still provide coverage they need to notify you of your COBRA rights. 100$ per day fine if they haven't. If you were layed off, when did it occur? ( feds were pikcing up 65% of the COBRA premiums). I think that expired 5/31/2010. Normally you would get COBRA for 18 months, and may have the option to elect a policy from the provider after the 18 months expires.

You should check on this even if you find another policy, teh COBRA may be better coverage at a better price.

I just pulled a friend of my wifes chestnuts out of the fire, her common law spouse needed extensive care, one call got him back on the plan and they actually notified him of his COBRA rights afterward.

I have more info if you have more questions.

Jim C.

 

[Manorville]

Thank you, Jim. I haven't resigned yet. I'm waiting to hear if I get the new position first. I thought perhaps Cobra may be the best way to go but I wondered if it costs more or less then individual insurance.

The fact of the matter is that if I do get the offer and accept, I will only need insurance coverage for 6 months because after that I will be married and go on my husband's insurance. Technically, I could go without insurance for the 6 months but even though I don't have any major issues, I would feel better with insurance (just in case).

I saw some info on the net for temporary insurance plans but it seems a lot of plans in general are not available in NY.

I'm just wondering what the best, most cost effective and available route to go is. So far, the best I've seen for decent coverage is $1000+ per month for individual. Part of me thinks cobra is the way to go, but I don't know if it would cost more or less.

 

[Noway2]

I recently changed jobs and had the Cobra option. Fortunately, I picked up more affordable care before I would have had to make the determination as to whether or not to purchase the COBRA. In my case, it would have cost $800/mo for myself an my wife.

I currently have what I consider to be a poor coverage situation. When I was (privately) employed, I was paying about $80 every two weeks for coverage for the two of us. This is the coverage that would jump to $800 under cobra. At my new position, I am paying $460 a month - just for my wife (mine is covered at 100% but any dependents are at 0%). I am employed by the state and I have been told that they know this needs to be changed as it is driving the younger healthier individuals to alternative plans which further drives up their costs.

I looked at getting Blue Cross just for her. It too would cost $460 / month (late 30's in age). This includes maternity care, which is approximately half of the cost.

 

[kmcferrin]

Oh! I may have been looking at the wrong site.

You were definitely at the wrong site. I'm not sure what he was looking for but COSI.org is for the Center of Science and Industry. It's basically a children's science museum in Columbus, Ohio. Great place to take your kids, definitely not a place to buy insurance.

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[JCreamerII]

The cheaper coverage will not coverage as much and the out of pocket will cost alot more. The reason they are checper is because they don't payout as much money as the traditional plans. That a decision you will have to make.

Jim C.

 

[Manorville]

Thanks for the info, Jim. I think I will have to figure out how much Cobra is and then just compare it to the individual plans. $500/month wouldn't be so bad with maternity care, etc. From what I'm seeing, Blue Cross full coverage starts at $1000 for just me (early 30's). I think it's just because I live in NY that is is much more expensive.

I was hoping to find cheaper temporary coverage but I'm not sure that will work since I haven't come across anything that is covered in NY.

Thanks again for your info. I will keep researching.

 

[Noway2]

I emailed my friend and ask him what he had been using. Apparently he is now using one that you can only join if you have paid employees for your business, but he did say that he "keeps hearing about cosi health". He sent a link,

http://www.ins-today.com/search/cosi+health.

I looked at the link, but the jury is out as it is one of those enter some information and an agent will contact you. At least this one appears to be via email not by phone (I wouldn't enter a valid phone number in one of those sites for any reason).

 

[Stella740pl]

I also think that I would be eligible for Cobra from the company I would be leaving

That's what I used while doing consulting/contracting job about 10+ years ago. It cost me first $375/month, then went up to $425/month for an employee+1 option with a very comprehensive coverage. (Yes, I know that the price is from 10 year ago.)

I think, COSI didn't exist back then.

I was afraid to leave my existing insurance, and didn't want to go into troube of looking for another one.I also heard from people about benefits of uninterrupted coverage (something about some conditions that may pop up and would be ruled 'pre-existing'). I just decided on keeping it.

I found a job with benefits before my Cobra was over. But if you plan to keep contracting, you should probably look for something more permanent.

 

[Manorville]

Hey Everyone, thanks so much for your help. I tried the cosi link and it seamed to match me with potential providers. I followed those links and they inevitably get me to ehealthinsurance.com. Seems to be the major site that everything is linked to - no matter where I search, it leads me to this site

I ended up calling Blue Cross today (my current plan through my company) and the woman suggested I just get the emergency hospital coverage at $195/mo since I will only need the coverage for 5 months. Turns out that NY rates are so high that she discouraged me to get full coverage based on that. At this point, I agree that the hospital coverage makes sense since I'll be covered in full when I'm on my FH's policy in 5 months. Think I'm going to go this route.

...And if for some reason he ever loses his job, I think we just may have to move out of state! LOL

Thanks again, everyone.

 

[kmcferrin]

I ended up calling Blue Cross today (my current plan through my company) and the woman suggested I just get the emergency hospital coverage at $195/mo since I will only need the coverage for 5 months. Turns out that NY rates are so high that she discouraged me to get full coverage based on that. At this point, I agree that the hospital coverage makes sense since I'll be covered in full when I'm on my FH's policy in 5 months. Think I'm going to go this route.

That's good if you just want a safety net against something catastrophic, but without a full coverage option you could run into trouble with pre-existing conditions. It varies from policy to policy, but usually if you have a pre-existing condition then your new insurer won't cover any treatment for it for a period of time (6+ months usually) after you join UNLESS you have been continuously insured for a period of time. So if you're healthy that may be a good way to go, but if you have anything else going on then you'll want to make sure that your bases are covered.

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