Host: What are some tips for self-employed people?
Bob Hurley: So some tips for self-employed people on buying health insurance is typically, you want to keep your cost down. This is especially important if you are not somebody that utilize catalog, you don't go to the doctor a lot, I would encourage you to consider a plan that has a deductible associated with it. What that means is simply you are going to pay for a portion of your care that year before the insurance kicks in. Often times, deductibles are in the range of $1,000 or $1,500 or $2,000 and again, simply that means if for that first $1,000 or $1,500 you are going to be covering any of your routine office visits to a doctor or routine medicines that you may need to get for that common cold or whatever you may develop that year.
So I would encourage you to go with a higher deductible plan, it's going to save you money on your monthly premium and it's also going to stabilize your premiums overtime because typically, those higher deductible plans don't see the kind of inflationary pressures that some of the lower deductible plans see. So I think the first tip is, go ahead and find a higher deductible health insurance plan.