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  1. #1
    Headed Home! KM Richards's Avatar
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    Health Ins for small businesses

    Does anyone know where to get a decent deal on health insurance?

    I've heard of organizations where many small businesses go in together
    and get better rates on health insurance...but where's the best deal from
    aqn insurance provider that isn't about to go broke?

  2. #2
    Follow Me On Twitter: @djg gold trophysilver trophybronze trophy Dan Grossman's Avatar
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    I insure myself through Aetna. eHealthInsurance quotes bring up the kind of plan I have. Not too expensive at all, though the rates rise sharply at a certain age.

  3. #3
    Headed Home! KM Richards's Avatar
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    Any idea if "eHealthInsurance" is profitable, or is this company
    on the government dole having to receive bailout funds just
    to barely stay afloat?

    That's another concern since I don't want to be paying
    premiums to a company that may not be there if they
    are needed, or they are in such financial straights that
    they can't afford to cover much and deny claims.

  4. #4
    Word Painter silver trophy Shyflower's Avatar
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    It looks to me like e-health insurance provides quotes from different companies. Health insurance is something I did quite a bit of research on, since both my husband and I are self-employed and between us, have some pre-exisiting medical conditions.

    I was unable to find anything affordable, so we went with a state health plan that is adjusted per our annual income. Depending on where you live, you may find such options at either your state (or other local area) or federal level.

    One place I researched was the NASE (National Association for the Self Employed). Be very careful there. At first glance, you might think it's the perfect place to sign up, but I found a whole lot of bad press about their insurance.

    Here is an excellent New York Time Article about insurance for self-employed. It has several links to follow that are health insurance resources and don't overlook this blog link. E-health insurance (as Dan mentioned) is noted as one of the better resources.
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  5. #5
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    eHealthInsurance is a broker, so they aren't the ones covering you, but they will sell you the policy from numerous health insurance companies. It's a good place to start your search.

    UPDATE: I second Shyflower's concern about NASE's insurance. We started down that path and then discovered that the insurance company they used was notorious for non-payment for conditions that the policy should have covered.
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    Headed Home! KM Richards's Avatar
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    Quote Originally Posted by amf45 View Post
    I second Shyflower's concern about NASE's insurance. We started down that path and then discovered that the insurance company they used was notorious for non-payment for conditions that the policy should have covered.
    Ah, that's the thing I want to avoid. That, and paying premiums to a
    company that is about to go broke. Thanks to both of you for the replies.

    I heard about plans where many small businesses go in together to buy
    coverage from the big insurance companies in order to get a better rate,
    but I haven't been able to find anything about this yet...

  7. #7
    Follow Me On Twitter: @djg gold trophysilver trophybronze trophy Dan Grossman's Avatar
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    Quote Originally Posted by KM Richards View Post
    Any idea if "eHealthInsurance" is profitable, or is this company
    on the government dole having to receive bailout funds just
    to barely stay afloat?
    eHealthInsurance just provides quotes from a number of large insurers. You don't have to register or anything, just enter your age, sex, and whether you smoke, and you get quotes.

  8. #8
    Headed Home! KM Richards's Avatar
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    Yessir, and that will getcha on their email list and they will be happy to pass
    your information around to a bunch of other companies when they sell their lists

    I'd kinda like to find a deal specifically for business, not shop as though I'm
    an individual looking for insurance. I need something for our employees, not just me.

  9. #9
    Follow Me On Twitter: @djg gold trophysilver trophybronze trophy Dan Grossman's Avatar
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    Quote Originally Posted by KM Richards View Post
    Yessir, and that will getcha on their email list and they will be happy to pass
    your information around to a bunch of other companies when they sell their lists
    I said you don't register, just age, sex and smoker. They don't have your e-mail or any other contact information. They do small business quotes. Why ask for recommendations if you're going to blow them off?

  10. #10
    Headed Home! KM Richards's Avatar
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    Quote Originally Posted by Dan Grossman View Post
    Why ask for recommendations if you're going to blow them off?
    LOL...I don't think anybody accepts every recommendation
    that comes there way, do they?

    I've had some bad experiences with getting quotes like
    that since most reruire at least an email address, which
    is how they deliver the quote to you.

    If you recommend something to somebody and they
    aren't onboard with your idea, is it wise to take it
    personally?

    I know I don't because people have the right to decide
    what's right for them even if I don't agree with what
    they've decided.

    Anywho, sorry I ticked you off as that wasn't my intention

  11. #11
    King of Paralysis by Analysis bronze trophy
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    Quote Originally Posted by KM Richards View Post
    I've had some bad experiences with getting quotes like
    that since most reruire at least an email address, which
    is how they deliver the quote to you.
    So use a throwaway e-mail address if you're that concerned.

  12. #12
    Headed Home! KM Richards's Avatar
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    Quote Originally Posted by KM Richards View Post
    I've heard of organizations where many small businesses go in together and get better rates on health insurance
    This is what I was hoping to find, and I figured somebody here
    may have run across this since there are alot of small business
    owners here and some are bound to need health insurance for
    their employees.

  13. #13
    Serial Entrepreneur
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    There are a number of professional organizations out there that offer insurance to their members. NASE is one such organization. Check with the organizations you might consider joining to see if that's one of the benefits they offer their members.

    However, your hesitation about eHealthInsurance is unwarranted. It's one of the sites I used to narrow down my options for getting health insurance when my company was just me (now I employ my wife, so we were able to get a company health plan in place that covers every dollar of health expenses and buys the insurance).
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  14. #14
    Headed Home! KM Richards's Avatar
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    Quote Originally Posted by amf45 View Post
    we were able to get a company health plan in place that covers every dollar of health expenses and buys the insurance
    That's the kind of plan I need is one that not only covers every dollar of
    all health expense, AND even buys the insurance.

    Not sure what you mean by "and buys the insurance", but having a plan that
    covers all medical expenses would be good. I can imagine the premiums
    would be high, but it should be a business expense write off.

  15. #15
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    Check with your accountant about the requirements to set up a "health reimbursement agreement" (HRA) plan. The plan can be set up to cover all company employees and their families... however, it can't cover the owner of the company directly (which is why having my wife as an employee works well for us).

    An insurance policy is just one aspect of a company's benefits package. Our HRA plan pays for all the other expenses not covered by the health insurance policy... all the way down to the parking fees when we visit our doctors.
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  16. #16
    Life is short. Be happy today! silver trophybronze trophy Sagewing's Avatar
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    Quote Originally Posted by KM Richards View Post
    Any idea if "eHealthInsurance" is profitable, or is this company
    on the government dole having to receive bailout funds just
    to barely stay afloat?

    That's another concern since I don't want to be paying
    premiums to a company that may not be there if they
    are needed, or they are in such financial straights that
    they can't afford to cover much and deny claims.
    That's a very strange comment. They are an insurance AGENCY and thus aren't really involved in the bailouts right now. And regardless, as an AGENCY you don't need to care about them going out of business as much as you need to get insurance with a stable provider.

    eHealthInsurance is quite good and I used to use them for a company that I had going for a few years. Nowadays, I am direct with BlueCross and very happy.

    Quote Originally Posted by Shyflower View Post
    One place I researched was the NASE (National Association for the Self Employed). Be very careful there. At first glance, you might think it's the perfect place to sign up, but I found a whole lot of bad press about their insurance.
    I did the same and had the same conclusion. NASE sounds great but the insurance company (MEGA?) is poorly rated and the way the plan is organized may not be good for many people. Be careful with this!

    Quote Originally Posted by KM Richards View Post
    Not sure what you mean by "and buys the insurance", but having a plan that covers all medical expenses would be good. I can imagine the premiums would be high, but it should be a business expense write off.
    Good god please rethink that logic before you purchase health insurance. If you want a plan that pays for EVERY expense you are going to pay a very, very high premium. If you would consider a very small copay you may pay half of that premium. If you would consider a big deductible you may pay even less and get a tax advantage HSA to go with it.

    An HSA can bring you a larger tax deduction than your entire premium, if you are lucky (and reasonably healthy). If you set it up right, you can pay the premium from the corp side AND fund the annual HSA contribution from the corp which can work out very nicely tax-wise.

    Saying that a high premium might be more acceptable because it's a business expense write-off is not the mentality wins in business. Spending more but 'taking a deduction' doesn't mean that you save anything in the end. Spending less AND taking a deduction is a better goal, but the real goal is to get what need for minimum overall expense regardless of how it works tax wise.

  17. #17
    SitePoint Member webinnosales's Avatar
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    A lot of health insurance around the world buddy...but of course it depends on your country...maybe we have here but you don't have over your place.

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  18. #18
    Headed Home! KM Richards's Avatar
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    Quote Originally Posted by amf45 View Post
    Check with your accountant about the requirements to set up a "health reimbursement agreement" (HRA) plan. The plan can be set up to cover all company employees and their families... however, it can't cover the owner of the company directly (which is why having my wife as an employee works well for us).
    What if there's no "owner" of the company?

    I'm the President / CEO of the corporation, but does that mean
    I'm the "owner" and couldn't be covered?



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    Good god...
    Be careful...no talk of religion is allowed you know!


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