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Sunshine

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those of you who do not work outside your b&b, do you have medical insurance? and if so, who do you go through and / or what made you decide on that company? and how did you find it?
We are thinking of doing the BIG scary thing... quitting our 'paying jobs', selling our b&b and purchasing a b&b closer to aging parents (they are very near needing family around to look after them.
But we have always had 'benefits' through or jobs. So not sure what we are going to do about that.
Any thoughts???
 

egoodell

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You have to purchase it independantly. There are not enough B&Bs in the country to impress the insurance companies to give a lower rate. I have been working at the local university now for 10 years and will take early retirement soon which means I can take the health insurance but have to pay for it. The health and long term care insurance together will cost us about $1200 per month. My early retirement pittance will cover about $500. So I am considered lucky.
Riki
 

Sunshine

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Great idea! My husband works for the university and I never considered that as an option. It is very expensive tho.
Thanks for the input Riki.
 

egoodell

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Great idea! My husband works for the university and I never considered that as an option. It is very expensive tho.
Thanks for the input Riki..
Sunshine said:
Great idea! My husband works for the university and I never considered that as an option. It is very expensive tho.
Thanks for the input Riki.
It is expensive because it is GOOD coverage. Anything you buy on your own outside will cost MORE and if cheaper will not cover what you need covered. Find out if he has been there long enough to get any of the benefits to help with the cost.
Also, when you buy insurance as an individual, it is you against the mammoth insurance company. When you get sick they look for a way to dump you. If you are part of a big group like the university there is less chance that they will be able to dump you.
RIki
 

JBloggs

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This is why most inns have one partner still working. In America this is reality.
 

Hillbilly

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Our insurance cost per month for 2 adults and 2 children is $947.00 per month with a $5000 deductible. It really sucks!!!! That is what you get for living the American dream and having a business of your own. I sometimes think I should go get a job at Wal-Mart at night stocking shelves just for the insurance!
 

muirford

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You can purchase insurance as a group member through an organization like NASE (National Association for Self-Employed). The cost is about the same - you only get good coverage if you pay for it - but it is harder for them to deny coverage after you have a claim. We pay about $420/month for two adults with a $10000 deductible. There is no coverage for wellness care other than the few things that are mandated now.
 

Generic

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Our insurance cost per month for 2 adults and 2 children is $947.00 per month with a $5000 deductible. It really sucks!!!! That is what you get for living the American dream and having a business of your own. I sometimes think I should go get a job at Wal-Mart at night stocking shelves just for the insurance!.
Aparently you haven't seen their health care plan.
http://articles.businessinsider.com/2011-10-21/news/30305229_1_wal-mart-health-coverage-offering-health-plans
 

Hillbilly

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Our insurance cost per month for 2 adults and 2 children is $947.00 per month with a $5000 deductible. It really sucks!!!! That is what you get for living the American dream and having a business of your own. I sometimes think I should go get a job at Wal-Mart at night stocking shelves just for the insurance!.
Aparently you haven't seen their health care plan.
http://articles.businessinsider.com/2011-10-21/news/30305229_1_wal-mart-health-coverage-offering-health-plans
.
Well shoot!.....now what? Is Lowes or Home Depot any better?
 

Judi Levens

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We opened a B & B as an early retirement opportunity. Nothing prepared us for the cost of medical insurance in California. We have paid over $200K in 10 years (for very little coverage) and are anxiously awaiting Medicare. Each of us has "something" either high blood pressure or high cholesterol...both controlled, but we were unable to find any good, reasonably priced coverage.
Good luck!
 

egoodell

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You can purchase insurance as a group member through an organization like NASE (National Association for Self-Employed). The cost is about the same - you only get good coverage if you pay for it - but it is harder for them to deny coverage after you have a claim. We pay about $420/month for two adults with a $10000 deductible. There is no coverage for wellness care other than the few things that are mandated now..
muirford said:
You can purchase insurance as a group member through an organization like NASE (National Association for Self-Employed). The cost is about the same - you only get good coverage if you pay for it - but it is harder for them to deny coverage after you have a claim. We pay about $420/month for two adults with a $10000 deductible. There is no coverage for wellness care other than the few things that are mandated now.
Exactly. This is why when you buy insurance you do it with a large group. That's why I am keeping my university insurance when I retire early. It's not cheap, but I"m part of the insuance for the state of Virginia and I have their in home care insurance too.
Riki
 

Madeleine

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State associations sometimes have group plans, so look into that. We bought our insurance on the open market but could only afford to cover one of us. The other one of us needed the care and it cost us over $20k out of pocket. We now have a group plan thru the state at $1300/month but it covers both of us. And it is an EXCELLENT policy.
No plan covers hearing aids, dental, eyeglasses. Which is too bad.
 
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I took the Polly&Ester parashute buy out (no silk parashute for me) where I worked but at 68 I can now use medi care,etc. Hope for old age is the only suggestion I have......ps Polly &Ester 2 old ladies still producing polyester uniforms & parashutes, which I wore for 12 yrs,uni's I mean. Happily tired :)
 

Penelope

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State associations sometimes have group plans, so look into that. We bought our insurance on the open market but could only afford to cover one of us. The other one of us needed the care and it cost us over $20k out of pocket. We now have a group plan thru the state at $1300/month but it covers both of us. And it is an EXCELLENT policy.
No plan covers hearing aids, dental, eyeglasses. Which is too bad..
Madeleine said:
No plan covers hearing aids, dental, eyeglasses. Which is too bad.
Tell me about it.... :(
 

agoodman

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I have insurance through United Health Care Golden Rule. $45 co pay on office visits, prescription coverage, $2500 deductible with an 80/20. I would like a lower deductible but then my premiums are higher. Right now an affordable $260/mos but it has increased more than $100/mos during the 7 years I have had it.
 

Joey Camb

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Compared to you guys I have it lucky with the NHS which ironically UK people complain about non stop but I don't! compared to what you have to go through everywhere else we have it well easy. Unless I suddenly decide to draw a huge salery out of the business which isn't likely then I don't have to pay anything for mine. Its one of the small perks for small businesses in the UK. I am also excited as the report about what they need to do to cut red tape in the accommodation industry has just come out and the government is looking at the proposals this week! fingers crossed they do anything useful!
 

Generic

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Compared to you guys I have it lucky with the NHS which ironically UK people complain about non stop but I don't! compared to what you have to go through everywhere else we have it well easy. Unless I suddenly decide to draw a huge salery out of the business which isn't likely then I don't have to pay anything for mine. Its one of the small perks for small businesses in the UK. I am also excited as the report about what they need to do to cut red tape in the accommodation industry has just come out and the government is looking at the proposals this week! fingers crossed they do anything useful!.
I was thinking the same thing. This thread has made me glad to have medicare. I don't have to think about any of this. Just go to the doctor when I need to and that's all. Sure we bitch about it, but no matter what system you have, you end up bitching about it.
 

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