Insurance agents and health care advocates say many business owners and self employed remain unaware how to fund their health insurance properly

Small business owners are unaware of how to bundle different insurance products together to make the whole package more affordable.
 
Here is an example, showing what can be done.
 
It relies on a principle that most of us understand from car insurance - the higher the deductible is, the lower the monthly payments are. 
 
The following example shows how to take an expensive HMO, $800/month, and get the same benefits by taking a higher deductible HMO and bundling it with a mini med, or limited benefits program, which essentially funds the deductible, and save $200/month.

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Consider this standard HMO plan, with a low deductible of $1000.00, but an unaffordable monthly rate of $795.00.


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But $800 is just is too much to pay a month.  What you really want is something like this, and cut your monthly payments in half.

 

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Now, you have a monthly payment that you can afford of $400.00 but that high deductible may prove an even harder nut to crack.  

Is there a combination of plans which would lower the monthly payments, but not increase the deductible?  

Yes.

The answer is that with some limited benefit plans you can bundle them to create a new HMO to create monthly rate, lower than $900, but higher than $400 and "not have to worry" about the high deductible.

For example, using the Trans Choice Gold limited benefit program, you can construct the following HMO.

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By paying a small premium to the limited medical benefit program and bundling it with a major medical plan, you can fund most of the deductible with insurance dollars instead of your own dollars.

Assuming that all the other requirements are met, this plan would get the health care  tax credit - where the limited benefits program by itself would not.

Great way to lower your monthly payments, increase your benefits, and access the health care tax credit.

 

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