Insurance Question for Full-Time Investors

[Kyle B.]

I am a long way from even considering full time investing, but I'm curious as to how full-time investors are handling this. What do you do for health and medical insurance? I would think this is a large living expense for those that don't get their insurance through a work group plan. Adding children to the equation would make this an even more important question.

If I get to the point of evaluating whether to go full time in real estate (which is a long term goal of mine), this will defintely be an important consideration for me, especially given the fact that my current company provides a very good insurance plan.

I'd be interested in hearing how full-time investors are handling this.

Thanks,

Kyle

[Rob K.]

I'm a full time investor and purchase my own insurance. It's not expensive if you're healthy and you shop around. I have an insurance agent that I've used for years. He's good at finding the best deals. Unfortunately, those deals are only good for a year and then the price jumps. He calls every year to let me know what the new deal is and we switch. Kind of a hassle, but worth it.

Currently, I'm paying $328 per month for myself, wife, and two kids. Doctor visits are only $35 and wellness visits are free. I think the deductible is $5,000. Lab work is covered 100%

I've told people I know who have employer provided insurance (that they pay for each check) about this deal and they have switched.

We are all healthy, which is probably a reason why it is so cheap. My insurance guy said that once Obamacare kicks in, the prices will go way up. We will see what happens.