Medical Coverage for Full time RE investors!

[here2learn]

OIC That explains why they said that I could be a DILDO and laughed. I wasn't sure if I heard him correctly, and the LT who was in charge of recruiting nuke school teachers didn't mention it again. He just told me I could be the teacher for Power school.

[RolynRealEstate]

"The best and safest route for me is to self insure and learn more about staying healthy.  This would include a healthy diet........that's right.....no soda or other highly acidic foods and drinks.  An acid environment is the best place for disease and cancer to grow.  A highly alkaline diet will not allow disease or cancer to grow, live, or flourish.  I drink nearly a gallon of highly alkaline water each day and I am healthy!!"

Rob

That is a good point, but there are and always will be something that happens in your life where you get hurt, especially if you are active like myself.  I still play sports at my age (Over 37) and I can easily get hurt.  That is something that you can't prevent or if your child breaks a leg? Spring water is not going to heal those wounds or prevent it. While the prevention of Cancer with healthy food is a good point you must also be active with regular excercise which can provide some risks that you can't just "Get over".

Then again if you are George burns who didn't do anything and smoked Cigars and lived to be 100 you are doing good. 

[Rob in Atlanta]

There is another solution to this issue which would take lots of effort but could be accomplished.   If we had at least 100 family units and someone wanted to organize this, we could establish a REI Association and provide the following:

1.  establish a fair premium to collect
2.  hire a TPA (third party administrator) who handles insurance
3.  use a portion of the collected premiums to purchase a stop loss, both per cause and aggregate, fully insured through the likes of Lloyds of London.

This is typically what larger employers are doing as the larger the number of insured units, the more predictable the claims become.  Also, with self insured trusts, there is an inherent reduction in claims as the participants know they are using their own money and handle their health and small claims with more care and prudence.

There could be an insurance company available right now that will do a group association plan.  This would still be an expensive option as it would be fully insured, which traditionally would cost more than self insured as outlined above.

For most of us entrepreneurs, I still think it best to self insure and if you don't have the courage to fully self insure, then do so on the small stuff and purchase a very large deductible catastrophic plan so there would be a stop loss in the event of a major illness.

Rob