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I just hit my first speed bump of self-employment.  I was like I need health insurance now! Then getting added onto my husband’s health insurance plan HURT! Big price tag surprise!

Expectations and Results

Based on what I remembered from his health plan last year, I was expecting that it was going to cost us an extra $125 every two weeks to get me covered.  Nope.  I was off by nearly 100%!  It will cost $235 every two weeks to get me on the same plan as him!  And it’s not a very awesome plan either…

We ended up picking a cheap plan that came with a “HealthFund” that is funded by $750 from the school district every year (which is awesome in my opinion).  Mr. BFS uses the $750 before paying out of pocket and any leftover funds can be rolled over indefinitely.  In exchange, there are high annual deductibles and coinsurance maximums.

My Husband’s Plan / Now My Plan

  • Lifetime Max Benefit – Unlimited
  • Annual HealthFund Credit – $750
  • Annual Deductible – $2250
  • Annual Coinsurance Max – $3500
  • Office Visits, Hospital Visits, Etc – We pay 25%
  • Preventative Allowance – $1000
  • Preventative Care – We pay 25% after the first $1000

This will run us $185 every two weeks.  Then the individual dental insurance runs me another $35 and the vision insurance is an additional $15.  $235 total.  Grrrr… We may forgo the vision coverage and just buy contact lenses online at a discount which is a lot easier to do these days.

Other Options

During the next open enrollment period in October, I will be taking a closer look at my options – all of my husband’s options and private ones.  I am a 28 year old in good health with enough savings for high deductibles.  I think that I can find something that’ll work great for me for less than $6000 a year.  So hopefully this situation is temporary.

And yes, I do know that a lot of people out there would kill for $6000 a year health insurance.  I am not unthankful or ungrateful – I am just practical and want to take advantage of my current healthy circumstances.

I also just left a job that covered most of my health insurance.  I was paying less than $1000 a year.  So yes, I got a bit spoiled.  It didn’t help that I was expecting about $3000 a year and was surprised by how wrong I was.  Double grrr….

My Paycheck

In the short-term, this unexpected extra means that I will be giving myself a $1650 paycheck every two weeks instead of a $1500 paycheck.  That means I better bring in at least $3575 a month and $42,900 a year.  A year ago, I would have thought that was just crazy, but given the fact that I brought in about $5000 in June and about $7000 in July, I think I am being realistic.  If something changes in the next few months, we will have to readjust.  We’ll all find out together.

Now Im helping out an elderly relative who has no paycheck and barely any social security. She couldn’t figure out how to compare medicare supplemental plans and so I stepped in to help. It makes my health insurance coverage look easy to say the least. Anyway Im happy to help with this kind of stuff.

So, anybody else want to join in on griping about health insurance costs?  🙂