Insurance through myself and not the company.?

If i didn't want to use the insurance companies, could i start my own company, but only to cover myself? I don't want to become an insurance company, rather just want to stop paying them for something i can cover with my own money. How or is this possible?

Your talking about being self insured just like the large companies are? If you can put a large amount of money in a trust account all you would need to do is to have a third party administrator who will charge you a small fee and would be the face of your insurance.
Hey, If you have that kind of money stop asking for free advise and get a Lawyer and a financial adviser.

Let's see if this is similar to what you are asking....

Instead of paying an insurance company $400 every month, of which you are generally healthy and feel as though you are just throwing your money away right now, which in this case is $4800 a year. You still have out of pocket expenses even with your insurance and you figure it may be cheaper for you to just pay out of pocket directly??

In many ways I agree with you on this. I have seen insurance and health care from both sides. And yes insurance is good to have if you're eligible and can afford it. But having insurance doesn't guarantee that it will cover any & all expenses when needed.

I personally could not afford the $600 a month to insure myself & 3 kids. I rarely go to the doctor myself, only with each of my pregnancies, and the children typically just for check ups. I figured if I put the $7200 I would be spending on insurance each year into some sort of interest earning savings account, gosh I might just be able to pay for open heart surgery in just a few years if needed.

Now granted things happen and you don't want to be in the ICU with no insurance because that could be devistating financially. But I also do not want to pay money to insurance every month for the next 10-20 years only to find out that if I happen to learn that I have Lupus, it won't be covered or that my rates will go up another $400 a month with nothing to show for all the years of paying for coverage that I never used.

You could always look into getting a catastrophic coverage plan that would not cost you a whole lot monthly, yet will be in place should something major happen. Or you could look into something like Ameriplan which is a discount plan, not insurance, that will allow you to save on all of your out of pocket expenses and still get you some help if needed with the hospital advocacy program. And everything is included, there are no limits, no restrictions. You work directly with your provider to determine what is the best options for you without having to ask an insurance company first to make sure it's covered, etc. I have personally used the plan for over 2 years and love it. You can take a look at the plans as well as search for providers in your area by going to the site. http://www.mybenefitsplus.com/cberney

Hopefully this helps answer your question a bit?!?!

Good Luck!

It's called not buying insurance. Considering a 35 year old person can buy $25,000,000 of coverage for $60-$80/month I'm not sure why....even if you had that kind of money laying around....you'd want to.

Not buying health insurance is not a good idea.

Jeff

"my3lives" said exactly what i would say. i work in health insurance. i see what happens to people on a daily basis. i see insurance on both sides of the fence. sure, you could take the money you would be spending on premiums and make some interest by putting it into an accout... but, what do you do if you develop cancer? or perhaps break your back? coma? a small small percentage of americans could afford something like that.. just buck up and pay the small charge per month. whatever it is you are thinking is a bad idea.

You can always self insure, but why take the risk unless you are very wealthy. Most policies will insure you up to a lifetime of 5 million or 8 million dollars. If you have that kind money sitting around then maybe, but if you don't then buy health insurance!

http://www.ohioinsureplan.com/index.php/insurance/carrier-quotes/

I don understand your question may be you can find some thing out hear..
www.fsa.gov.uk/pages/Doing/small_firms...

Do you have deep pockets to cover your own catastrophic claim? If there were an easy way to do what you propose, don't you think people would be doing it?

If you can cover it with your own money, why start a company? Just go uninsured, and pay cash!

It takes millions and millions of dollars to start an insurance company. If you're talking about a small business, there's no advantage to having an individual policy through the small business, vs. having it privately.

You're talking about just self insuring - YOU paying the cost. I assume you're talking about CAR insurance. Depending on what state you are in, you MAY be able to post a cash bond instead of buying insurance. You give $10,000 or $25,000 to the DMV.

Financially, it's a dumb move, but if you want to, go for it.

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