Advice on self-employed health insurance

Jan 24, 2007

  1. bedafish
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    bedafish New Member

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    My wife and I reside in Wisconsin, are self-employed, and are currently shopping around for "the best" health insurance. We currently are insured through Assurant Health (for the last three years), and have seen our monthly premium go from $210 to $525 in that span. We basically only require major medical. Our current plan has a $4000 deductible, and we pay $6300 a year for the right to pay our first $4000! We are both in our early 40's. Searching the internet can be overwhelming, as well as talking to some local agents. We have had zero claims on our existing insurance, with very few doctor visits (sinus infection, OBY/GYN visits). How can a company more than double our monthly rate in such a short time span? Any reputable insurance carriers you may suggest will be much appreciated. I've picked up on one suggestion from this forum, and that is DO NOT GO WITH N.A.S.E.! Thanks for any advice.
     
    bedafish, Jan 24, 2007
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  2. NHB_MMA
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    NHB_MMA Guru

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    I'm sure you'll get some advice from health experts here, which I am not. Assurant has a good reputation in the market. I don't know why you have seen such steep increases. You're right to not go with NASE. Good luck.
     
    NHB_MMA, Jan 24, 2007
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  3. dvd493
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    dvd493 Super Genius

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    It sounds like you need to speak with John Petrowski. He is a member on this forum. You can find his email address in the members section. If anyone can help you, he can.


    Take Care,
     
    dvd493, Jan 24, 2007
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  4. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    sounds like you guys need to shop the hsa market....and think about taking sep. policy's on you and your wife to cut risk....and go here and get rates from all these company's......go to your yellow pages and look under health insurance and see if you can find someone that can give rates on all these co's.....do not try to do it on line because your name will get sold to a bunch of pesky yahoos......


    http://www.health--savings--accounts.com/plans-wi.htm
     
  5. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    oh yea....see if the guys in the yellow pages can email the rates and coverage outlines......
     
  6. Crabcake Johnny
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    Crabcake Johnny Guru

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    You went from $210 to $525 with Assurant in 3 years? Assurant normally runs 22% for increases which means you should be at $380 - but then again I sell in MD. The only explanation is three years ago you were on a plan they no longer offer. In that case you might have got higher than normal increases if they had bad claims experiences.
     
  7. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    I'm telling you John back in the day when it was just fortis that was the business norm.....
     
  8. bedafish
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    bedafish New Member

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    We are enrolled in an HSA thru Assurant (Fortis). I just think these rate increases are abnormally high, and am looking for a better deal. I have some local agents working on my requests, but who do you trust? It seems like these companies will just continue to bump your rates every year so that you'll pull out before making a claim. New quotes coming in to me range from $200 - $275. What is the norm for increases from most insurance companies? John, you mentioned Assurant is @ 22%, is that an industry norm?
     
    bedafish, Jan 24, 2007
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  9. bedafish
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    bedafish New Member

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    ... and why would a company that I've been with for 3+ years (without a claim) be more than double a "new" insurer who is basing my rate on age & smoking preference alone?
     
    bedafish, Jan 24, 2007
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  10. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    It all depends on the company and were you live........
     
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