His life long dream was nearly destroyed by the high cost of health insurance. At the young age of 57, Bob decided to follow his dream to be an entrepreneur. His wife Kathy had already retired from teaching and was self-employed selling homes. Bob walked away from a nice salary with health benefits and bought a business coaching franchise. Losing the salary was planned for but losing employer paid health benefits turned into an unexpected nightmare. Jana sabeth schultz 1207548 unsplash 1The health insurance premium for Bob, Kathy, and their 19 year old daughter was just over $1,800 a month! They were in deep trouble. It was more than their monthly mortgage payment.

I get approached by people like this all the time and they say something like, ‘I’m just looking for a bridge to get me to Medicare’. They had health benefits through an employer but don’t any longer. They had no idea how much their employer contributed towards the cost. The sticker shock really hits hard when you go out and look for health insurance on your own. It’s either outrageous COBRA premiums or Obamacare. Two really bad, expensive choices. But you’re at an age where going without insurance isn’t acceptable either.

Bob asked if medical cost sharing might be an option for them to consider. The short answer, ‘Yes’, always leads to more of a discussion about how medical cost sharing is different than insurance. So I explained how much better it is to have an IUA (or initial unshared amount) instead of an annual deductible. We talked about pre-existing conditions and how those worked with our cost sharing membership. They liked that there’s no-network and you can choose any doctor you like. In the end, they chose Aliere’s Access family membership plan. They liked the $500 IUA. It feels great knowing your worst medical disaster will only set you back 500 bucks! But best of all, the monthly rate for the entire family was only $863. They went from a $5,000 deductible to a $500 IUA and saved nearly $1,000 per month.

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