Health/Medical Insurance for Piano Techs?

[Tom Servinsky]

Once your deductible is met ($4800) than it's like any other insurance plan.
Something like %80 coverage, and so much for hospital stays, etc. .
The big difference, as stated earlier, is if you don't need to use the money
than it remains with you. You get the benefit of deducting the contribution
amt. from your taxable income, plus this is an interest bearing/tax free
account, much like an IRA.  Plus at 65 you can take it out and use it for
whatever needs you may have.
But back to the original question, what if you don't have much savings built
up in the account? You can prepay up to one full year in advance ($3600) or
if you are signing up during the course of the year, than only those
remaining months could be paid for. That money is to be used for the
incidental expenses ( doctor visits, eye exams, dental exam, etc).
If you take a close look at all the medical expenses the average person pays
through the course of a year, plus the premiums paid, plus, plus, plus...the
amt. spent will generally far exceed the MSA basic premium amts.
The thought behind MSA is that if you have only so much money to work with
you are more likely not to use medical services unnecessarily. The harsh
reality is that many feel most insurance plans are an open pit for services
and the payment for services are mysteriously provided. Those costs are
spread out over everyone's premiums, thus the steady inclination in premium
charges.
Again, give credit where credit is due. Congress, IMHO, has taken a bold
stance in supporting our desire to curb out-of-control health care costs.
Tom Servinsky,RPT
----- Original Message -----
From: "Barrie Heaton" <piano@a440.co.uk>
To: <pianotech@ptg.org>
Sent: Tuesday, April 16, 2002 2:42 PM
Subject: Re: Health/Medical Insurance for Piano Techs?


>
> So what happens if you get a  long term illness and you have only had
> the card of a year or so
>
> Barrie,
>
> In message <006d01c1e4de$89d38d20$903d2a3f@compaq>, Tom Servinsky
> <tompiano@gate.net> writes
> >Dittos,
> >Can't agree more.
> >We just signed up for the MSA account and the offerings, especially if
you
> >are basically healthy, will leave more money in your pocket.
> >For those who are not aware of the MSA,this was Congress's attempt to
give
> >control the individual the opportunity  manage their own healthcare.
It's
> >not a perfect situation but it's pretty darn close.
> >You are allowed to put up to $300/monthly ( $3600) with the addition of
the
> >premium ( ours is $1300 quarterly, family of 6). Altogether we'll pay an
> >average of $650/month. You are given a plastic debit card which works
very
> >much like a VISA card.
> >The big difference between most health insurance plans and the MSA is the
> >MSA covers anything related to health related expenditures. Dental, eye
> >care, health care...it doesn't matter, providing you have enough reserve
> >built up in your account.
> >Remember these are all tax free contributions and the account will
resemble
> >much like an IRA account.
> >Give Congress credit for designing a plan that gives the power back to
the
> >user.
> >Tom Servinsky,RPT
> >----- Original Message -----
> >From: "Greg Newell" <gnewell@ameritech.net>
> >To: <pianotech@ptg.org>
> >Sent: Friday, April 12, 2002 11:42 AM
> >Subject: Re: Health/Medical Insurance for Piano Techs?
> >
> >
> >> Check with your local insurance agent to see if they can handle an MSA
> >> (Medical Savings Account) . You'll end up paying about the sam but part
of
> >> the money is yours to use on medically related expenses. Have them
explain
> >> it all to you. They can do it better than I can. I think the best
company
> >to
> >> have one with is Golden Rule. The portion of the premium that is yours
is
> >> put in an interest bearing account with checks you can use. Remember
the
> >> overall payment is the same as everybody else but in this case some of
it
> >is
> >> yours!
> >>
> >> Greg
> >>
> >> Richard Oliver Snelson wrote:
> >>
> >> > I have a 55 lady (smoker/my wife's sister) who wishes to learn the
piano
> >> > tuning and repair business. I have checked on getting health
insurance
> >> > for her and got a large wakeup. So for it looks like $550 to $700 a
> >> > month for basic coverage.
> >> >
> >> > What are you folks doing, that must provide your own health
insurance?
> >> > I have a wife that teaches school and is covered there. I'm over 65
and
> >> > have coverage. I had no idea that the costs were so high! How do
folks
> >> > manage this. This is a real deterrent to someone wanting to go into
> >> > business for themselves.
> >> > Richard Snelson
> >> > Oliver Piano Service
> >>
> >> --
> >> Greg Newell
> >> mailto:gnewell@ameritech.net
> >>
> >>
> >
>
> --
> Barrie Heaton      PGP key on request           http://www.a440.co.uk/
> AcryliKey Ivory Repair System UK ©
http://www.acrylikey.co.uk/
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