Host: If you are just starting a new business, is it better to put off buying health insurance until you can afford an all inclusive plan?
Bob Hurley: Many people that are just starting out on their own, their own business they will say, "I don't have money for health insurance. I need the money to support whatever my new business is and I don't have money for health insurance.
" That's really not the way to look at it. That's a huge mistake and let me tell you why. Your health is -- you are almost completely counting on your health in order to make your business go. Without you, your business is not going to go, you need your health and therefore, if you get sick and you don't have access to coverage, two things are going to happen. One, you are probably not going to seek care soon enough, you are not going to seek it when you should, when the first onset or whatever the symptoms are present themselves you are probably not going to access care because you are concerned about the cost of accessing care. That's number one, but number two is if something bad happens to you and you do have some kind of catastrophic condition that requires a lot of care, you could be very quickly running up a $10,000 or $12,000 bill for healthcare and that can absolutely put a major roadblock in your success of developing your new business. So this is one of those situations where you don't want to be a 'Penny wise and pound foolish.
' Get that coverage, you can buy a higher deductible plan, keep your monthly premium down, build in into the cost of doing your business and meanwhile, you are going to have the access to care that you need to keep yourself well and you are going to protect yourself from that catastrophic loss that could absolutely, completely derail the dream that you have in building your business. So self-employed folks don't put insurance on the back row, get it now, get it upfront and build it into the cost of doing business.