AboutMichael Feinberg, ChFC Expertise I am the Executive Director of Synergy Financial Services, concentrating in
life insurance, long term care insurance, and long-term and tax-advantaged
investing. I am licensed for Life, Health, and Securities. I am always happy to answer any questions you may have on any of these
topics.
Question Is there such a thing as affordable health insurance?
I am 58, in good health (well I DO have high cholesterol and a little bit of high blood pressure, but I am working on that by natural methods -- without prescription drugs).
My health insurance rises so much each year I am considering terminating my contract when it renews Jan. 1. It will go up to $761.92. I have a Blue Cross Blue Shield HMO.
I an independently employed so this policy is Small Group policy of which I am the only member.
I rarely go to the doctor. And if I do its for a diagnosis and then I use alternative methods for treatment.
I do get mammos/sonograms twice a year to monitor a "abnormal" situation that seems to be nothing, but I use the insurance as a crutch for that and in case any major illness or injury occurs.
Can you recommend anything more affordable? I need to make a change soon.
Thanks for any help. Sharon
Answer Unfortunately, individual health insurance is a major pain in the rear end because it is quite expensive AND more importantly almost impossible to obtain if there are any, even minor, health conditions. The mammos/sonograms situation, even while preventative and not a big deal, would scare away virtually every new insurance company looking at your application and would most certainly be excluded from coverage (as would anything developing from that situation).
Health insurance is such a pain to work with that we have pretty much strayed away from that portion of the insurance business, so other than what I have said above I'm not sure I could make much of a positive suggestion to you. Sorry I couldn't be more helpful!
