Looking for Insurance Recommendations
Hello everyone,
I’m reaching out for some advice. I’m a self-employed individual living in New York and currently don’t have employer-provided insurance. My annual income ranges from $150K to $200K, but after deductions, it’s more like $60K to $80K.
I was previously with Fidelis, but their monthly premium of $650—excluding dental coverage and limited benefits—has become too burdensome for me. I’m looking for a more affordable option and would appreciate any recommendations based on positive experiences. I can budget up to $400 a month, but $650 is simply not feasible for my situation.
I’m 30 years old and, fortunately, I don’t have many health issues, so even in the rare event that I do need care, my expenses typically don’t exceed $650. This makes me question the value of maintaining insurance at such a high cost.
Any suggestions would be greatly appreciated! Thank you!
Hi there!
It’s great that you’re taking the time to explore your options for health insurance. Given your situation, there are a few recommendations to consider:
Marketplace Insurance Plans: Check out the health insurance marketplace (HealthCare.gov) during open enrollment. Given your income after deductions, you might be eligible for premium tax credits that can significantly lower your monthly premiums.
Short-Term Health Insurance: If you’re mostly healthy and looking for lower premiums, short-term health insurance could be an option. These plans typically have lower premiums but also offer limited coverage and may not cover pre-existing conditions.
Health Savings Account (HSA) Plans: Consider a high-deductible health plan (HDHP) that is HSA-eligible. The premiums are usually lower, and you can contribute pre-tax money to an HSA for medical expenses.
Local Cooperatives or Associations: Sometimes, professional associations or cooperatives offer group health insurance plans to self-employed individuals which could be more affordable.
Dental Coverage: If you’re looking specifically for dental coverage, check if there are standalone dental plans that can be added to your health coverage or considered separately.
Make sure to evaluate the plan’s network and benefits to ensure they align with your healthcare needs. It might also be worth consulting with a health insurance broker who can help you navigate options based on your specific needs and budget.
Good luck with your search!