Affordable Healthcare: Can It Happen To You? by Irina

- You may have to pay up front for medical services, then

submit the bill for reimbursement.

- FFS plans pay only for "reasonable and customary"

medical expenses. If your doctor charges more than the

average for your area, you will have to pay the

difference.

Depending on what you choose, you might end up with either

EXPENSIVE or VERY EXPENSIVE plan. Here are some practical

ways to reduce the high (and constantly rising!) cost of

health care if you are unemployed, self-employed or work

for an employer that doesn't offer health benefits:

- If you feel comfortable buying online, you can often save

on broker and agent fees. Sometimes, this will translate

into premium savings for policies purchased over the

Internet.

- If you can afford to do so, pay your premiums annually

rather than monthly or quarterly to avoid service fees and

to take advantage of prepayment discounts where available.

- Take advantage of the group buying power. Check out your

local chamber of commerce, trade and professional groups

and small and home business associations relevant to your

particular profession. Many of them offer access to

discounted health insurance. Here are some links:

National Association for the Self-Employed

http://www.nase.org/nase_benefits/health_benefits.asp

American Association of Home-Based Businesses

http://www.aahbb.org/benefits.htm

Home Office Association of America

http://www.hoaa.com/allbenefitsnew.htm

National Business Association

http://www.nationalbusiness.org/NBAWEB/Directory/Internal_Pages/Member_Benefits/Health.htm

- Increase your deductible. This obviously depends on you

risk tolerance. The general rule of thumb is that by

increasing your deductible from $100 to $2,000 you can cut

your premium payment in half.

- Use new tax laws. The self-employed can write off 70% of

their health insurance premiums in 2002. This increases to

100% in 2003.

- Use Medical Savings Accounts or MSA. Under the Health

Insurance Portability and Accountability Act (HIPAA), self-

employed individuals are eligible for a medical savings

account. MSA works nicely in conjunction with higher

deductible health insurance policy to reduce premiums and

allow you to use pre-tax dollars to pay for your medical

expenses. Basically, you reduce your premium by increasing

deductible and use the savings to make fully tax-deductible

contributions to your MSA. You can contribute up to 65% of

the deductible each year into your MSA (75% for families).

The money goes into a tax-deferred account or trust and you

pay your medical expenses by drawing from the account.

Once you hit the deductible, of course, the insurance

policy kicks in.

All the above is helpful if you're able to get health

insurance in the first place. What if a pre-existing

condition disqualifies you from getting insurance at any

price? There are still some options to consider.

HIPAA may offer some protections. For more information

visit

http://www.hcfa.gov/medicaid/hipaa/content/hipsteps.asp

State-funded high-risk health insurance plans, also known

as Risk Pools, are an important safety net for individuals

denied health insurance because of a medical condition.

They're available only in 29 states though. For more

information on risk pools in your state, contact your state

health insurance department, the national association

"Communicating for Agriculture and the Self-Employed"

(1-800-432-3276) or visit

http://www.selfemployedcountry.org

Last but not least, consider possible NON-INSURANCE

solutions to minimize your out-of-pocket healthcare

expenses. Through the various Healthcare Savings Programs

you can access the same networks of healthcare providers

(for the same negotiated rates!) that large insurance

companies use. No long-term commitment is required on your

part and the service is available for a modest monthly fee

that is only a fraction of a health insurance premium. To

make them even more attractive, these programs accept all

pre-existing conditions. For example and details see

http://www.careentree.com/310559

Finding adequate healthcare coverage might seem

overwhelmingly elusive like hitting a moving target, but

learning the basics and knowing where to start can make the

process less painful and even save you money. No matter

which (if any) of my suggestions you decide to follow,

please eat at least one apple a day! Not for the alleged

ability of the fruit to keep a doctor away - just because

it tastes good!

Copyright (C) by Irina 2003.

===========================================================

About the Author:

Irina runs home-based business helping people save on

healthcare and create steady stream of residual income

working from home

http://www.megaone.com/hbb/savemoney/

mailto:imakemoney@freeautobot.com

===========================================================

Go to Page 1

BIO:

Irina runs home-based business helping people save on
healthcare and create steady stream of residual income
working from home
http://www.megaone.com/hbb/savemoney/
mailto:imakemoney@freeautobot.com

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