Look. Let’s get something straight.
Health insurance premiums are expensive; e.g., $2,800/month for a very high deductible HSA plan covering a young family of four. Or, how about $1,100/ month for a co-pay plan covering a single female, age 53.
With no insurance today, for Jake (37), his wife (36) and their three kids we recommended one carrier’s Gold HSA plan, costing $1,785/month. Since Jake owns a business and has one other employee, he could put a small group policy in force on the first of August. (Or any other month.)
Since we’ve been ‘dabbling’ in this market for a ‘few’ years, I know this is a really good value.
But Jake thanked me for my trouble, noting he had shopped on line and found an individual plan he could buy tomorrow that would cover his entire family for $404.21/month.
Really?
Red flag 1. The national carrier he found doesn’t sell on the individual market. (Click on your county here to see which carriers are
selling.)
Red flag 2. The Open Enrollment Period for individuals is at year end.
I have a prize for the first savvy Tips reader who can tell me what’s going on here.
And, a bridge for Jake!
