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First Job Incentives? (Med Insur)

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jwinslow

jwinslow

A MAN OF BETRAYED JUSTICE
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I'm strongly considering pursuing a career in action photography, starting with horse show photos and some HS/youth sports thrown in. I am still considering my options, and trying to find somewhere that could use my design skills too, but for the most part I've made up my mind.

I have come to accept that even at many full-time positions right out of college, you do not get the greatest benefits. That's why I am ok with working for a smaller business for now without benefits, and perhaps finding one down the road if needed.

The problem is the parents graduated and went into health care and both got benefits including health coverage... so they're pushing me to find something with that. I don't plan on altering my plans on their account, but it would be nice if I were able to tell them how uncommon such benefits are in the current market.

So if you guys could share your experience of what benefits are usually given to graduates with a major but very little job experience (I have some good experience, but its in IT not design) entering the workplace.

Also, if you happen to know any good photography companies let me know :wink: (I prefer action, sports, and maybe a little portrait)
 
Re: "so they're pushing me to find something with that. I don't plan on altering my plans on their account, but it would be nice if I were able to tell them how uncommon such benefits are in the current market. So if you guys could share your experience of what benefits are usually given to graduates with a major but very little job experience."

Health benefits are fairly common in the current market. Generally all major companies (and many smaller ones too) offer health benefits. They vary depending on what health insurance company's plan they offer and what contract that they have negotiated with the company. Usually the benefit is not totally free. The company pays a percentage and you pay a percentage of the premiums. The company will usually offer it's health benefit package to all their employees regardless of his/her position or experience.

In addition, (under the company's health plan) you could still pay a deductible, co-payment, and/or some out of pocket expenses when you go to a doctor and/or hospital, etc.

Also, companies may offer a high option and a low option. The high option costs more (higher premium) but pays more (i.e lower deductables, co-payments, and out of pockets expenses).

Another reason you need insurance is the doctor, hospitals, and pharmacies have numerous rates for the same service, lab test, and/or medicine. The health insurance companies negotiate a much lower rate for these services for the people that they cover than you would get if you walk in off the street without any health insurance. Example: I'm looking at a bill my wife got from a laboratory for blood work; 15 tests totaling $446, there is a reduction of $404.28 (adjustment for health care company contract), and amount owed to provider is $41.72. The lab gets $41.72 gets for the 15 tests because of the contract that they have with the health insurance company. If you walked in off the street without any health insurance you would be billed the $446 for the same tests.

I agree with your parents. They know what they are talking about and are giving you great advice. Get a job with health benefits!!!
 
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it probably depends on the profession... b/c pretty much all of the design grads I know were not able to get health coverage with their "benefits" in their first jobs... whereas most of my compsci buddies that found work had lots of benefits.
 
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A different way to look at the problem is to cost out what beneifts would cost you, subtract that from an offer without benies and see what you are really making.

While beneifts are still common their vaule is shrinking. Employees are often asked to pay a higher share and deductibles and copays are on the rise (I think it is because of all the malpractice suits).

As it works out young people effectively subsidize older folks in companys that do provide health insurance (the cost of group policies are determined by the average age of the employees in the company - so they are getting a larger benefit than you).

I would agree that you do not want to go without health insurance, but even that can be qualified. If you have no assets and suffer a major illnes the chances are society would pick up the tab and you would still get treatment. it just might not be the best treatment and you could die as a result. But heck, there are risks in everything.
 
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I will agree that size does matter in this case. Almost all major corporations and government postions provide some form of health care. Plan costs, deductibles and waiting periods vary from company to company. It is the small and medium business that have a harder time providing coverage. We use a graphics design house for our web site, ads and other media. It is a husband and wife team with a few employees. They have told us that for their size health insurance is just too costly. I think they have one of those catastrophic plans which does not cover anything until you exceed $5,000 in costs. I know for a fact that our costs have risen substantially and our benefits have decreased over the past few years.

When you are young and healthy you feel that health insurance is an option. If you were to get seriously sick or hurt you would feel otherwise.I think health care costs for the uninsured is a major cause of bankruptcy. Older folks with kids do use the benefits more than younger people. I bet I only filed one claim, for knee surgery, the first 10 years I worked. With a wife and two kids we see a doctor all the time now.

Sometimes health insurance will be available through an organization you belong to. I do not know if photogrphers or media consultants have a trade group but you may want to check into that type of option.
 
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bucknola said:
Sometimes health insurance will be available through an organization you belong to. I do not know if photogrphers or media consultants have a trade group but you may want to check into that type of option.
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Good call, this might be a possibility. Karrin (fiancee) belongs to something like that, and they are working on adding health coverage to the membership for when they are at working with horses.
 
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Winslow,

Are you married? Does your spouce have health insurance?

If your employer doesn't offer health insurance, your spouce's employer needs to... It is too big of a risk not to have... with the pre-existing condition clauses on most plans unless you transfer from one company's plan to another they will not cover pre-existing conditions (ie if you get in an accident and then get insurance, they will not cover anything related to the accident for the rest of your life... this gives them a creative way of backing out of covering you when you really need it down the road)...

Also, if you do not get health insurance, I hope they pay you a lot more... disability insurance is another form of insurance I wouldn't go without.. esp. if you have dependents/non-working wife...
 
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Will be in a year... I will check with her to see if she will get coverage when she becomes full-time after college next year...

I agree it's too big of a risk not to have coverage, I was just curious how common it was for anyone in smaller organizations.

Assuming I cannot get coverage thru either of our two employers (and I also decide to not seek other employment), what would be my best option for getting my own coverage?
 
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Our business (25 employees) just increased our deductible....For 18 years we offered the lowest $200/250 deduct/copay but had to bump ours to the next level because of average increases of 25%+ per year. The agency servicing our account said we were the last business under 50 employees purchasing the low deduct/copay plan for the "blues" in our county. We are a typical small company and offer the most we can afford...now our deduct copay is $500/$2500 (I think). Our insurance costs are about 2.7% of every $1.00 is sales and growing. If I could increase sales/profit by the same rate the insurance premiums are increasing I would still be at the better plan for the employees. We offer insurance for the employee after 30 days and they can payroll deduct for any depandants at the group rate.
 
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jwinslow said:
Assuming I cannot get coverage thru either of our two employers (and I also decide to not seek other employment), what would be my best option for getting my own coverage?
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I advise winning the lottery. For shits and giggles, my wife asked what her COBRA payment would be when she left her job (she had immediate benefits at her new job, but i wanted to know), and they told her it would be almost $1200 a month. COBRA payments will always be more expensive than normal payments, but DAMN.

JWin, it is always better to have coverage through an employer. You can get your own, but it will cost you out the ass, there is usually a deductible (which is higher than what you would pay otherwise), and they can screw you a lot easier (ie, refer to gbear's post above - they can really pick and choose what they'll pay). If you have insurance through your employer, then it's paid, no questions asked.
 
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I've gotta go with the majority here JWins. It's a mighty big risk not having medical insurance.

If push comes to shove, take a lame job that does offer insurance and do your photography gig on the side until you can get yourself established well enough to buy insurance for yourself (or until you get married and you can sponge off your wifey's coverage).
 
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I'm gonna see if there is a photography business I could work for that has coverage, and then do my other events on the side (other than fridays, most of my events will be during evening or weekend games for sports/horse stuff).

Thanks for the advice guys.
 
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Worst case senerio join the local farmers bueru or the Chamber of Commerce... those two organizations tend to offer "discounted" health insurance through the use of group policies... check with the organization to verify they offer discounted insurance before you join...
 
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I'm not sure the COBRA payments would be higher than regular insurance. If I remember correct the employee would get the group rate the business was paying (cheaper than individual) and the business could mark up the premium 2% for administrative reasons...It's been a while since we've had an ex employee on COBRA, I could be wrong.
 
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