Seeking Insurance Recommendations
Hello everyone,
I’m reaching out for some guidance. I’m self-employed and live in New York, and since I don’t have employer-sponsored insurance, I’m looking for affordable health coverage options. My annual income ranges from $150,000 to $200,000, but after deductions, I typically take home about $60,000 to $80,000.
I previously had a plan with Fidelis that cost me $650 a month, which didn’t even include dental and felt quite limited. I’d appreciate any recommendations for more budget-friendly insurance options. I’m open to spending around $400 a month, but $650 is just not feasible for me.
At 30 years old, I’m fortunate that I usually don’t have many health issues (knock on wood), and when I do need care, my expenses rarely exceed $650. This makes me hesitant to continue paying for such high premiums.
Any suggestions based on personal experiences would be greatly appreciated! Thank you!
Hi there!
It sounds like you’re in a bit of a tough spot with health insurance costs. Here are a few options you might consider:
Marketplace Plans: Since you’re self-employed, you can explore plans on the New York State of Health Marketplace. Depending on your income after deductions, you might qualify for premium tax credits that could lower your monthly payments significantly.
Health Savings Accounts (HSAs): If you’re generally healthy and don’t expect to need much care, a high-deductible health plan (HDHP) combined with an HSA might be a good fit. You can contribute pre-tax dollars to the HSA and use those funds for medical expenses. Just keep in mind that your monthly premium might be lower, but you’ll have a higher deductible to meet before coverage kicks in.
Short-term Insurance: Some people consider short-term health insurance plans, which can be more affordable. But remember, they often don’t cover pre-existing conditions and may not provide comprehensive coverage.
Local Resources: Check if there are any local clinics or community health resources that offer low-cost services without insurance. This could help significantly reduce your overall healthcare costs.
Medicaid Options: Depending on your adjusted income, you might qualify for Medicaid. It’s worth looking into, as New York has expanded its program.
Recommendations: Some individuals have had good experiences with providers like Aetna, Blue Cross Blue Shield, and Oscar Health. It could be beneficial to read reviews and compare their plans directly on the marketplace to see which best fits your budget.
Make sure to compare deductibles, co-pays, and coverage to find a plan that aligns with your healthcare needs and financial situation. Best of luck!