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You have to analyze the low monthly premium versus the high deductible. Or just the opposite. Alchemist’s post is very on point about what it costs to visit the emergency room. Same thing for medicines and hospital stays.
Depending which broker you can use to find the insurance you might be able to get into that is designed for small business owners. It allows all small business owners to get together and pool their insurance needs in order to get a better premium.
The lower cost monthly premium’s are generally associated with HMO’s. Also before you choose, make sure that the doctors and hospitals in any group are in your area. Analyze what the “out of network” costs in case you do need to see a doctor which is not covered in your group. In cases like this you first have to pay the doctor directly then submit receipts to the insurance for reimbursement. Here is where it gets complicated. The insurance tells you when your shopping that you will be reimbursed at 75-85% for the out of network expenses after you meet the deductible. But what is not clear that they will reimburse at the 75% rate of the “set rate” for each specialty. For example, you see an out of network dermatologist and the visit costs you $200. Insurance company has the rate set at $150 for reimbursement. So you submit your 200 receipt and only get back $112.50 (150x75%).
The other thing to consider when your shopping around for insurance is that your most likely getting vision and dental care from your work. Vision and dental care are not covered under regular health insurance.
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