Health insurance after going full time investor?

Health insurance after going full time investor?

Rental Property Investor · Beaverton, OR · Member since 2019 · 11 posts · 4 votes

Though I'm not at the mark yet, I'm within striking distance of quitting the w2. And that leaves me with one significant consideration.

Healthcare (insurance).

Preliminary research shows costs of coverage that are 3x to 4x that of my current employer.

So my question, to those who are self employed or successfully walked away from your W2, how are you handling health and dental coverage?

(Sorry, using a spouse's coverage is not possible for me so that doesn't count)

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Omaha, NE · Member since 2020 · 612 posts · 666 votes
5y

I still have a W-2, and might for several years, but back around 2010 when healthcare became mandatory, I was working for a small company that provided the world's most expensive insurance. The cost almost caused me a medical event...so, but we did some hunting and found health sharing accounts that qualify as health insurance and cover major events.

Pretty much everything medical will come out of pocket, but the health sharing will cover beyond a significant deductible so you wouldn't be wiped out. Each program is different and many are religiously affiliated. If you don't use your insurance often, it's a great fit.

I have a wife and three young sons and we've kept the health sharing program for the last decade with no issues, and it's so much cheaper even than the insurance offered by my various employers over that time.

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  • Omaha, NE · Member since 2020 · 612 posts · 666 votes
    5y

    I still have a W-2, and might for several years, but back around 2010 when healthcare became mandatory, I was working for a small company that provided the world's most expensive insurance. The cost almost caused me a medical event...so, but we did some hunting and found health sharing accounts that qualify as health insurance and cover major events.

    Pretty much everything medical will come out of pocket, but the health sharing will cover beyond a significant deductible so you wouldn't be wiped out. Each program is different and many are religiously affiliated. If you don't use your insurance often, it's a great fit.

    I have a wife and three young sons and we've kept the health sharing program for the last decade with no issues, and it's so much cheaper even than the insurance offered by my various employers over that time.

  • Realtor · Scottsdale, AZ · Member since 2019 · 125 posts · 51 votes
    5y

    @Shandon Lewis

    This is a good question. I know most people hold I. To a w2 to qualify for more loans. I’m curious WHEN people quit there day job too and at what age.

  • Member since 2020 · 11 posts · 2 votes
    5y

    Shandon Lewis, sometimes you may face financial issues with those coverage processes. There are plenty of fraud techniques, which you can find all over the healthcare industry nowadays, and well, in some cases - jural professionals can help to resolve such things. In my case, which I had with healthcare frauds, these guys here ( https://federal-lawyer.com/florida/orlando-healthcare-fraud/ ) prepared all the needed official papers in the shortest terms. They know a lot of cases, which are almost the same with the fraudulent cases, which you can face.

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