cost of medication/ insurance

[inthebarnagain]

Stockyards bank in Louisville Kentucky has a program just like it.  I am sure you could find out from them who carries it in other areas of the country.  Some friends of ours who are farmers have the very same insurance with the HSA linked to it. 

 

[Doc]

Hey Doc, 

that was plain english.  what gives?  that sounds like a good deal, especially for a family of 5.  i think my sister has a similar policy for two, and she pays around $600/mo.

seriously, what are the age constraints.  what this sounds like is that you pay for normal health stuff out of pocket pretax, but you get covered for catastrophic.  what are the limits on catastrophic and preconditions etc?  this sounds like the old days where you got a policy for catastrophic, and you paid out of pocket for the rest.  oops, redundant.  this in my view is a good deal.  what might need to happen is for chronic stuff to get exemptions or subsidized benefits, like diabetes and other conditions.

[/quote]

Knabe, My wife & I are both turning 44 this year & my girls are 15,14 & 7. Thankfully I'm the only one with pre-existing conditions. My migraines are not covered which is one prescription that costs $11/month, & one that I take when I get one, that is one $27 per tablet & they come in a pack of 9. Luckily I only take 1 or 2 a month at the most. That condition is exempt for life. I had been getting some cortisone shots in my shoulder & elbow due to messing them up in college on the rodeo team & they put a 2 year exemption on that. If we don't have any problems other than a cold or earache every now & then , it's a pretty good deal. I really like the tax free savings account that pays like 1.5% . I got my insurance thru an independent agent , so if I ever change jobs I take it with me.

 

[Doc]

Knabe, I forgot , I think the lifetime limit is like $2 million on individual & $6 mil on the whole policy. I won't swear to that though without looking.

 

[Will]

I have a couple replies.
Red most state have an uninsuralbe health insurance pool that is managed by the state individual insurance commissioners office that your husband could get coverage.  Most sates require you be turned down by atleast two companies.  Then the premium is based on age and your health condition is not considered.  The premium is usually pretty high but the coverage is very good.  One of my nieghbors just got on the program and he is a cancer survivor.  Had to quit his job and got on with the state when his COBRA ran out.

HSA (Health Savings Accounts)  Are a high deductible major medical plans.  Usually have either a $5500 or $10000 deductible.  Their are some really good tax saving involved because you can put money in your health savings account and get a tax deduction.  Almost all of the major companies have a HSA policy.  Your local agent should be able to give quotes on several differant policies.

 

[red]

thank you so much Will! I'll do some research.

Red

 

[KYsteer]

I manage and farm and we do not have enough employees to make the health insurance cost effective for the farm.  The best deal I found was on ehealthinsurance.com.  I have a $1000 deductable and only pay $70/month.  I just wanted to have it in case of a medical emergency that required surgery.  It does not have a co-pay but I pay a percentage of the doctor visit, which actually is cheaper than what most co-pays are.  It does not cover name brand prescriptions, but just tell your doctor and they usually have a generic that will work as well.  It may not be for everyone, but it may be worth checking out online they seem to have a plan for everyone on there.