I was listening to a few people in my family discuss this issue the other day and this is what I learned:
Since private insurance premiums are so expensive, self insure. Self insure your business, and/or self insure your own household. You can do this by:
- Purchasing an inexpensive major medical policy that has a large deductible. Be sure the plan will cover at least 90% or more of the total costs of a serious emergency or medically necessary surgery. Get a high deductible on that major medical insurance. It will cost less per month, and God forbid an emergency situation needs coverage, chances are you will have enough to cover the deductible and 10% responsibility. If you find you are unable to do so, medical facilities work well with those who make an attempt to pay.
***You can purchase major medical insurance for under $50 per month. Dental insurance and prescription plans can be found reasonably priced, as well.***
- Deposit the amount of money left over from the sum of what you would pay for your insurance premiums. Let’s say you now have to pay about $500 in per person, per month in health insurance premiums. So you would bank $420 per month per person after you deduct $50 for major medical premium, $20 for a discounted prescription program, $10 for pet insurance. When someone is proactive in keeping themselves healthy, the negotiated and agreed upon costs would be covered, paid by this account in cash. When someone needs medical assistance for an injury or illness, you pull the costs from this account.
***No “referrals”, no “network, and no co-pay (unless you arrange that with your employees.***
- Visit your primary doctor and any other health professionals you see on a regular basis. If you talk to your doctors about being uninsured they will usually discount the cost of the visits. You may find that the cost of the visit exceeds what is in your health care account.
***the doctor’s office will usually allow a mutually agreed upon payment plan to be arranged.***
- Take advantage of special offers. Utilize blood drives, free clinics, free pharmacy testing and vaccinations, and the ability to ask your pharmacist questions. Check the local newspaper or online ads for discounted or free check ups on your teeth, eyes, and heart, and take advantage of them. You can even include your pets!
***Publix pharmacies offer free antibiotics, and Wal-Mart pharmacies have a discounted generic prescription plan***
You have now saved money by:
- Negotiating with your health care providers for discounted preventative health care costs.
- NOT giving your money to a large corporation knowing you will never see it again. Instead, you are investing your own household, and your own company. If things go well, it is possible you may be insurable without contributing a premium.
- Investing in your own household or company would earn interest if invested. It might be worth hiring a professional stock broker for a short time and learn as much as you can from that person.
- You will curb unnecessary visits by creating a great line of communication with your doctor’s office. If you are known well, prescriptions are called in with no required visit with the doctor. If you have a chronic condition, you will be seeing your doctor on a regular basis anyway.
- Try more natural remedies like sea salt, lemon juice, massage oils, aloe plants, and bagged frozen peas or crushed ice in a Ziploc bag. A heating pad, over the counter cold, cough, and sinus or acetaminophen, ibuprofen, naproxen, and aspirin can be helpful, if cleared by your doctor. Going to the beach for the salt air, or taking a steamy shower to break up lung congestion are a few other things you can attempt before you head off to the doctor. Herbs, vitamins, minerals, and other supplements should always be discussed with your doctor. Have a first aid kit handy and updated in your home and in your vehicle at all times.
- In some states, you can have a Health Savings Account (HSA) that is deducted from an employee’s paycheck pre tax. Therefore, the employees will be saving money on income taxes.
- Nobody stands between the decisions you and your doctor make together. Nobody has rights to your medical records except for your doctor and any other person you authorize.
- The amount contributed would be equally charged on a per person basis regardless of age, occupation, pre-existing conditions. As all involved will be covered equally.
- If you consider this idea, be sure to get a complete physical, discuss cost options with your doctor, and have a thorough blood work up before you leave your insurance company. Remember, proactive medical care is much less expensive than waiting until it is too late.
Thanks for your time and attention. I appreciate it very much. Please feel free to leave a comment if you’d like to.
Written by Margaret Sullivan, Professional Freelance Writer
Permission granted to share if attributed properly, used in entirety and only for non-profit.
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