Moving from CT to NY: how do I keep low premiums?
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UPDATED: Sep 18, 2010
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Insurance Question from Norwalk, CT
Asked on 09/18/2010
Moving from CT to NY: how do I keep low premiums? I'm leaving my job in CT and moving to New York in a month or two (will be self-employed). I'd like a high deductible, low premium plan because I'm young and in pretty good health: I want to be protected against emergencies. It seems like premiums in NY are way higher than in CT, though. One thing I'm thinking about is getting a CT plan and just keeping it in New York. The only downside I can think of is that any doctor I visited would be out-of-network, but even so I think it would be cheaper? I'd like advice on whether or not this is a good idea.
Answer given on September 18, 2010
First of all, congratulation on truly understanding what insurance is for and looking at a high deductible plan.
Secondly, bad idea on getting insurance in one state and living in another. While you may be allowed to keep it, depending on the plan you get, you could end up being “out of network” for most things.
Make sure you know what you are getting.
Here’s a link to some health plans in New York from ehealthinsurance.com
I just randomly picked a county and age/gender for you ( 30 yo male ) in Syracuse, just for an example of rates and plans available in the area. Not too bad.
In CT, here is a list of plans for a 30 yo male in 06611 zip code ( Bridgeport, CT ):
Better rates and more options.
The problem here, is that if you are out of network, the extra expense is two-fold:
1) you won’t get the network discounts ( huge )
2) any charges will go to a totally separate deductible ( out of network deductible )
For saving money on the premium, your added risk for exposure when you USE the insurance might not be worth it.
The good news is, in a few years when the “exchange” kicks in, this should open the doors on buying insurance for yourself and keeping it wherever you go. Nothing is written in stone on that yet, so don’t go banking on it until it happens.
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