The Hinesburg Record, October 21, 2010
By Steve Gladstone
In these tough economic times many people have made the choice to go into business for themselves. As someone who made this choice I can relate to the concerns and doubts that one must address before you make the leap. One of the biggest issues that you must address is how to find affordable health care. If your coverage is no longer supplied through your employer you must go out into the market and find your own solution. I am here to report that thanks to the efforts of State of Vermont there are solutions available that are accessible and affordable for the average family.
As my job disappeared overnight in early 2009, and I had to solve the health insurance puzzle for my family, the feeling of panic at the sheer cost of insurance was mixed with confusion as I embarked on a crash course in health insurance. Never before had I needed COBRA, but I began to understand that COBRA allowed me to continue coverage with my past employer’s health plan, thereby giving me time to determine my future options. That was immensely helpful, but it was not a long-term fix. Not only is COBRA coverage expensive, but by law it generally can only be utilized for a maximum of 18 months.
Along the way I discovered that my family qualified for Green Mountain Care health insurance which is offered by the state of Vermont and its partners Blue Cross Blue Shield and MVP Health Care. This was a huge turning point in my finding a long-term solution to my health care needs and gave me the comfort level needed to pursue self-employment.
Initially I thought I’d simply purchase a Catamount Health family plan, one of the plans under Green Mountain Care, but I soon learned that the state does not bundle health care coverage in the same way as the private sector. Each of the Green Mountain Care health plan have differing eligibility criteria. Our two children ended up with Dr. Dynasaur, while my wife and I qualified for Catamount Health from Blue Cross Blue Shield. I found this a la carte approach to coverage, as well as the entire process, rather confusing. But it was well worth the time and effort.
In our case when we crunched the numbers and looked at our options it worked best to opt into Green Mountain Care plans and pay out-of-pocket for some services. The beauty of Green Mountain Care is that the coverage is seamless regardless of the twists and turns of the economy. In other words, as income goes up and down, so do the premiums. And as your needs go up and down, you can adjust the coverage you purchase.
My words of advice to others in similar situations are - number one, don’t panic. COBRA can buy you time. Look into Green Mountain Care (www.GreenMountianCare.org or 800-250-8427) and start the application process early. Although the application process is clunky and can be time consuming it was worth it. Apply early. If you know your job is going to end, you can apply up to 60 days beforehand. I started two months ahead and still had a tight scheduled. But the end result is a collective monthly premium that is far less than you will find on the open market. And best of all, the coverage has been excellent.
Steve Gladstone is the co-owner of Rowing Innovations and lives in Hinesburg with his wife and two kids.
