Health insurance in NY

[ushdadude]

Any suggestions for health insurance for a sole proprietor in NYS? Really seems like the only option is the market place and those plans are all awful.

[ExGingi]

Any suggestions for health insurance for a sole proprietor in NYS? Really seems like the only option is the market place and those plans are all awful.

Marketplace is more or less the only option (thanks to Obamacare). There's an (UNDERWRITTEN - i.e. not guaranteed acceptance like the marketplace) association program that's available, but in most cases that I've shown it to people, they decided to just go with Marketplace plans.

[ushdadude]

Marketplace is more or less the only option (thanks to Obamacare). There's an (UNDERWRITTEN - i.e. not guaranteed acceptance like the marketplace) association program that's available, but in most cases that I've shown it to people, they decided to just go with Marketplace plans.

thanks. I have something through trinet (they used to let sole props in) but they just added a 750 charge per month. The problem with the marketplace is that a lot of drs we use don't accept any plans.

[ExGingi]

thanks. I have something through trinet (they used to let sole props in) but they just added a 750 charge per month. The problem with the marketplace is that a lot of drs we use don't accept any plans.

I'm sorry to hear that you use a lot of doctors.

That might make an underwritten plan a non-option. You can PM me to discuss specifics and bounce through various ideas.

[Ver hut gazugt]

You should look into health shares, like refuah.
With them it may take work if you need to make a claim but they are much cheaper.

[ExGingi]

You should look into health shares, like refuah.
With them it may take work if you need to make a claim but they are much cheaper.

It is also not insurance.

[joe1234]

It is also not insurance.

whats the difference?

[ExGingi]

whats the difference?

Do you want to open up a parallel of the Areivim discussion here? It's obviously different, but when it's not insurance there isn't an entity that's assuming the (unlimited) financial risk.

[incendia]

Marketplace is more or less the only option (thanks to Obamacare). There's an (UNDERWRITTEN - i.e. not guaranteed acceptance like the marketplace) association program that's available, but in most cases that I've shown it to people, they decided to just go with Marketplace plans.

Was there an option before Obamacare?

[joe1234]

Do you want to open up a parallel of the Areivim discussion here? It's obviously different, but when it's not insurance there isn't an entity that's assuming the (unlimited) financial risk.

i wasnt trying to open a bag of popcorn... i was genuinely trying to figure out the difference. i think refuah healthshare has a 1 million dollar limit per diognosis...seems pretty good although not unlimited.

[Ver hut gazugt]

Do you want to open up a parallel of the Areivim discussion here? It's obviously different, but when it's not insurance there isn't an entity that's assuming the (unlimited) financial risk.

I don’t think that is true. They may have a slightly higher risk of going bankrupt then regular insurance. However, I don’t think it’s an issue because Obamacare has a carve out for “qualifying life event”. 

[ushdadude]

I'm sorry to hear that you use a lot of doctors.

That might make an underwritten plan a non-option. You can PM me to discuss specifics and bounce through various ideas.

misspoke. of the drs we use, most of them don't accept any market place plans

[ushdadude]

You should look into health shares, like refuah.
With them it may take work if you need to make a claim but they are much cheaper.

if i were to do a health share (i won't), i would do one of the bigger national ones. although AYLOR regarding the christian ones. they have some faith-based questions you have to sign which may be the equivalent of  affirming their god.

[ExGingi]

misspoke. of the drs we use, most of them don't accept any market place plans

So your choices might be an association plan (HSA compatible or not), an HSA compatible marketplace plan (even if you use non participating doctors, you'll have some tax savings), or possibly a health share program. Or you might consider switching doctors.

[ushdadude]

So your choices might be an association plan

that's what i did through trinet. they are the ones who started charging 750 extra per month making it cost prohibitive. I'm not aware of any other companies that offer it.I didn't do an HSA compatable plan but going forward I would. The triple tax benefits are hard to ignore. (tax reduction, tax-free growth, tax-free withdrawals)

[ushdadude]

if i have friends in the same line of work who are in a similar situation, can we somehow band together and create our own association?

[ExGingi]

that's what i did through trinet. they are the ones who started charging 750 extra per month making it cost prohibitive. I'm not aware of any other companies that offer it.I didn't do an HSA compatable plan but going forward I would. The triple tax benefits are hard to ignore. (tax reduction, tax-free growth, tax-free withdrawals)

Prior to 2021 I didn't see any attractive HSA compatible plans on the marketplace (for NYC). There is now one HSA compatible plan that I'm aware of that is actually attractive in comparison to other plans available on the exchange. (This is referring to plans for the 5 boroughs and possibly Nassau county).

[Dan]

Or you might consider switching states.

ftfy

[ushdadude]

Prior to 2021 I didn't see any attractive HSA compatible plans on the marketplace (for NYC). There is now one HSA compatible plan that I'm aware of that is actually attractive in comparison to other plans available on the exchange. (This is referring to plans for the 5 boroughs and possibly Nassau county).

Which plan is it? Thanks

[cgr]

that's what i did through trinet. they are the ones who started charging 750 extra per month making it cost prohibitive. I'm not aware of any other companies that offer it.I didn't do an HSA compatable plan but going forward I would. The triple tax benefits are hard to ignore. (tax reduction, tax-free growth, tax-free withdrawals)

I don’t know the legalities of this, but if you're laid off (not sure how that works for a sole prop) you'd be eligible for COBRA, and Trinet would subsidize your plan 100% from April through September 2021 as part of the American Rescue Plan.