Cash business and health insurance ?

Question

What options exist for someone who works in a strictly CASH business, isn't married and needs some kind of Health Insurance? The cost would need to under $300.00 a month. Do all these companies ask to you to provide the details of your income? Thanks for any suggestions.

Answer 1

yes they ask questions just lie your *** off if you make a lot of money they dont come by and check. paper work and reciepts are easy to forge, to give them proof you dont make that mcuh and it depends on how dangerous your job is. if you really want an easy life insurance plan go talk to your banker... banks set up self-employed people with a cheap life insurance plan. yeah its true go check it out.

Answer 2

They don't ask about income. All they look at is your health history. Go to an Independant Agent in your area and see what they can offer. If you are healthy, a high deductible policy with a HSA is a way to budget for your expenses and get the tax break at the end of the year.

Answer 3

The only time health insurance is worried about your business information is when you apply for group coverage. In order to obtain group coverage you need at least two employees and you need to file a quarterly wage and tax report.

If you are looking for individual coverage your cash business will not be of interest to the insurance company.

You should try using yellowpages.com to search for health insurance brokers in your area.

Don't call your auto and home agent they specialize in property and causality insurance. You need someone that specializes in health insurance.

A Broker represents multiple carriers and can help you sort through all the different insurance companies and plan options in your state.

The Health Savings Account would be something to look into.

Answer 4

You may not need proof of income.  Good luck on finding insurance for under $300/month. If you do find an inexpensive policy check the coverage details since, it may include high co-pays and deductibles.  One of the better options, at least for employees in a large company, is to participate in a company sponsored health plan where you could get insurance for the price you seek.

Therefore, a cash business does have drawbacks and rewards. You are on the presidents health plan, just like fifty-million other Americans, pray you dont get sick.

Answer 5

Generally all they need is the premium. For $300/month you can probably get a high deductible policy of some sort. Look at setting up a Health Savings Account so that you can shelter the money you would use for routine expenses.

Answer 6

Well, you go to a local agent, and fill out applications, and get a quote.

They don't CARE what your business is - health insurance is rated on your age and your health.  But if you're self employed, they're likely to want you to carry workers comp insurance, so they don't get nailed for uninsured workers comp claims.

They don't care how much your income is.  Just like, if you're buying a car for cash, it does't matter what your income is.  They tell you how much it is, and you either buy it, or you don't.

But a local agent will be able to figure out how high of a deductible you need to take, to get the premium in your affordability range.