HEALTH CARE COVERAGE and the Independent Contractor! Something Has Gotta Happen . . . Soon!

Are you a Real Estate Practitioner?  A Loan Originator?  An Independent Sales Representative?

Back when we were young pups, thinking about leaving the security of an employed position, to join the ranks of the "Be Your Own Boss" set - you felt pretty invincible, didn't you?

"I can make a lot of money selling . . . (fill in the blank)!"  I'll cover the family.  Make enough to pay for the kids college tuition.  Put a few bucks away.  Even pop for that nice car, or boat, or second home!

Health care coverage?

Hey - I'm young!  Thirty-something!  My spouse works - I'll glomb onto her policy!  I feel fine . . . and, by the time I'm old enough to need more intensive health insurance coverage, I'll be able to find coverage.  I'll likely have to pay a premium for it, but I will get it.  No problem!

So, gang, what happened?

Sweet sixteen turned 31, then 41, then 50, or more.  Although 50 is the new 30, or something like that, you start to get prescribed medications you never had to worry about before.  For blood pressure.  Perhaps asthma.  Hopefully, nothing more serious - but, for some post-50, they are not so lucky.

The costs for these miracle meds?  ASTRONOMICAL!

Each day, I take three medications - one pill for allergies, an inhalation drug for asthma, and a mild blood pressure reducer.  The cost for the regimen each month - in excess of $300!  And, I am pretty healthy, the right weight, and I exercise and eat well.

Routine care doctor visits?    Sky high!  Often, over $250!  And, being a guy, I try my damnedest to avoid the doctor's office!

My Blue Cross Individual Health Insurance Premiums, which I purchased with great ease when I became an independent contractor over 15 years ago, have increased three-fold in price per month - it now costs over $850 each month to insure me and my wife.

Further, to keep the costs within a reasonable realm, I have had to increase our deductibles - to over $5,000 each.  Prescription Drug Coverage - minimal.    One of my monthly prescriptions costs over $150 - and I am not even sick!  Geez!

And each year, I receive a nice little white envelope from the Blue Cross people, crying how medical costs have gone up soooo much, and it is with great regret that the have to raise our health insurance rates once again.  10%.  15%.  Once, nearly 18%. 

But here's the kicker - I rarely even use the policy. Unfortunately, however, I know that my usage of medical services can climb precipitously, at any time, the older we are fortunate to become.

And there is nothing we can do about it!  Nothing!

Stop coverage?  You know that will be when our families' genetic disposition to heart disease will kick in!

Reduce coverage?  Same concern, and for those of you who may have not noticed - there is a recession on, and, often times, the income is hard fought!

Today, people who work for companies - those who are fortunate enough to still have a job, that is - don't truly know how lucky they are to have subsidized health care coverage, even though the employee co-pays have increased considerably over the years.

We Independent Contractors have seen even greater increases!

And many of we indies are considering the previously-unthinkable - going without health care insurance, since its cost is going out of control.

Once an older insured lets coverage lapse, it is far tougher to get it back, at any kind of reasonable price, with advancing age.  Walking away from coverage, therefore, is a very bad move!

Something, it seems, needs to be done to keep health care costs in check.  For the aging population of Independent Contractors.  And Real Estate Practitioners.

Reasonable rates.  No Pre-Existing Conditions.  And, yes, absolutely, the Public Option, to keep private providers in line, and costs down!

Socialism?  Don't think so!  It's just common sense!  Even many of those outspoken "Righty Tighties" agree!  Something, something needs to be done about Health Care in the U.S.! 

For many!  For everyone!  But, especially, for us!

Or, the problem is going to get far worse - especially among the ranks of us self-employed individuals.

Senator Ted Kennedy, God rest his soul, was on the right track all these years.

No doubt!

Your thoughts?

DEAN & DEAN'S TEAM CHICAGO