Many self employed people such as realtors, contractors, lawyers, and entrepreneurs are seeing their health insurance cost sky rocket. Buying health insurance on the individual market has become very expensive. The only real way to save money in a group plan is to have a very large group. Otherwise group health insurance is actually more expensive than its individual counterparts.
One group in GA found a way to cut their cost on expensive Obamacare premiums, get better coverage, and avoid the expensive penalties. For many people the new health care law has driven the cost of their healthcare through the roof. Let’s face it, if you’re making over $30k per year, or you’re fairly healthy, the new new health care law simply is not for you. You make to much to get in significant tax credit, and the much of the coverage you’re paying for won’t ever be needed. So how to get around this mess?
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The group mentioned before was able to set up their own private health exchange, lower their premiums and out of pocket expense, have guaranteed approval, and avoid expensive penalties. How did they do this?
- They joined a larger block of business. All this means is they were able to leverage the size of an already existing group/association that had negotiated lower rates. So rather than buying plans individually they were able to still get individual plans, but use the size of the group to get better rates.
- By using the acceptable, legal options to avoid penalties many of the members will be able to take advantage of a private plan that cost less, and not have to pay a penalty for being in a non-Obama-care plan.
- Diversify their risk with the plans structure. Insurance is nothing more than gambling over future financial risk. By structuring the plan to risk sharing methods the group was also able to close up any deductibles, keep premiums lower, and pay less out of pocket for healthcare needs.
To see more on the case study above, and to see how you could benefit from this type of plan go to The US Realtor Benefits Association to download a free guide rate sheet, and guide.