Health Insurance and Consulting 10

[MalcolmA]

I have always wanted to go out on my own and try consulting. When I look at the cost of health insurance for my family, it makes me reconsider every time.

Is there an affordable way to get health insurance for an independent consultant.

Any insight from others on this forum is greatly appreciated.

 

[oldestguy]

Only one poster mentioned business insurance. In my line of engineering (civil) professional liability insurance was more costly than health insurance.

 

[Electic]

It would seem economy insurance with high deductibles is now about $1000 per month, compared to about $300 per month four years ago. Unless you net less than $30k per year, in which case it will still be about $300 per month. One simply shops around for what is available in your State, and shop every year when it is time for renewal.

The way I made the split from employee to self employed, was to chart out and cover with designated savings, all our family expenses for one school year. We did not wish to relocate 4 kids during the school year. Plan B was to find employment elsewhere and relocate our family after the school year was up, if this did not work out. By the time we got to the end of the school year, I had earned and saved enough to cover the NEXT school year. Having the funds available without the worry of generating business was the only way to sleep at night.

That was many years ago, and now I have greater fear of growing complacent.

 

[SteelEngineer]

There are a few organizations that promote good discounts on health insurance like ASCE and ACEC.

I'm not sure if the discounts for these are enough to overcome the membership cost, but they're worth looking into.

Southern Steel Engineers,

http://www.southernsteelengineers.com

 

[HamburgerHelper]

Terratek,

If you are going to do it do it all the way. Marry someone rich and forgetting about consulting altogether.