Question about health insurance for full time trader

Surdo · May 10, 2008

Quote from chewbacca:

first of all, are you even profitable trading part-time?

and by profitable i'm talking a minimum of 200k a year and very consistant?

if your are not then you will fail miserably and how the fuck will you support a stay-at-home wife and kids that have health issues

damn another fucking idiot trader that thinks he will make it big on hope alone

you're an obvious newbie without a clue as to how this business works - your post gives it away [/B]

You need to chill out dude, and switch to decaf, it's his business, the guy might have 9 million in cash and wants to trade...is this any of your concern?

The OP asked a simple Health Insurance question, that's all.

el surdo

joeyata1 · May 10, 2008

you're trading career is over before it started. min $1500 amonth and exclusion of coverage so it does you no good. if you can get it threw a prop then you're at the mercy of the prop . keep your job and trade on the side

nutmeg · May 10, 2008

Set up a dba and join the chamber of commerce, most offer health plans. Set up a dba and join an employee leasing co. Lease yourself back to your dba, leasing co offer several health plans. There are adminstrative costs but are deductable.

Vinny1 · May 10, 2008

Try this site...

http://www.ehealthinsurance.com/

By the way, NJ is extremely expensive for health insurance. Run from NJ as fast as you can.

New York, New Jersey, Massachusetts, Maine, and Vermont are guaranteed-issue states, hence they are the costliest states for health insurance.

webbma · May 10, 2008

Quote from chewbacca:

first of all, are you even profitable trading part-time?

and by profitable i'm talking a minimum of 200k a year and very consistant?

if your are not then you will fail miserably and how the fuck will you support a stay-at-home wife and kids that have health issues

damn another fucking idiot trader that thinks he will make it big on hope alone

you're an obvious newbie without a clue as to how this business works - your post gives it away [/B]

Not sure why I am even wasting my time giving a response to this. You don't know anything about me or my background. So relax! Trust me I'll be fine. Just some background so you can sleep at night and not worry about me...I worked 8 1/2 years on a trading desk at Goldman Sachs (have you ever heard of them?) trading international shares. I then went to UBS and ran a very successful trading desk for 4 years. For the past 3 1/2 years I have been trading a-
t a smaller firm. So I believe 16 years of experience trading at very reputable firms will be a good start. Thanks for your concerns though. I appreciate it!

webbma · May 10, 2008

thanks for everyone who gave me input on my question. I'm not looking for anyones opinion on whether or not i should go full time or stay in my job. I'm perfectly capable of making that decision myself.

Thanks.

MandelbrotSet · May 10, 2008

Quote from webbma:

I am planning to go fulltime in the next 6-9 months, and I have a question for any of the traders with families. My wife is a stay at home mom, so getting coverage from her is not an option. What do you guys do for health insurance coverage? Do the prop firms your with offer a plan? Do you have to get seperate health care coverage? If anyone is in NJ and has a family plan, what is the approximate cost of the plan?

Thanks for any input you can provide.

I googled "new york health insurance" and these are the responses I got:

NY Health Insurance

I'm sure you find something to fit your bill amongst the options listed, and as nutmeg mentioned, Doing Business As or Incorporating will give you even more options.

As a former employee of both Goldman and UBS I wish you luck. Capital rules in a capitalist sytem, but you have to put the health and welfare of yourself and your loved ones first.

webbma · May 10, 2008

Quote from MandelbrotSet:

I googled "new york health insurance" and these are the responses I got:

NY Health Insurance

I'm sure you find something to fit your bill amongst the options listed, and as nutmeg mentioned, Doing Business As or Incorporating will give you even more options.

As a former employee of both Goldman and UBS I wish you luck. Capital rules in a capitalist sytem, but you have to put the health and welfare of yourself and your loved ones first.

Thanks...I also appreciate the kind words. Experience is no guarantee for success, but I've been looking forward to this for awhile.

Triple X · May 10, 2008

I'm in NJ, and according to my doctor's nurse (very reliable) Horizon is the best. That's what I have, the HMO so everything is covered with a copay. If you go for the PPO, you save a couple hundred a month, but the hospital stay is limited to 90 days, no rehab, etc. so if you have a major problem you will pay alot.

I pay 487 mo., I am single.

Edit: the first 6 months, pre-existing conditions may not be covered. All insurance seems to have this clause.

Tommy Ryan · May 10, 2008

Quote from webbma:

I am planning to go fulltime in the next 6-9 months, and I have a question for any of the traders with families. My wife is a stay at home mom, so getting coverage from her is not an option. What do you guys do for health insurance coverage? Do the prop firms your with offer a plan? Do you have to get seperate health care coverage? If anyone is in NJ and has a family plan, what is the approximate cost of the plan?

Thanks for any input you can provide.

Your current employer probably is required to offer you the same insurance plan as you now have under a Federal Statute known as COBRA;
Tommy