So you see #5 below about the contractor? I had another conversation with him today after we dropped off our kids at school. He was walking to breakfast and I was walking to the grocery store and then home.
I asked again about his healthcare insurance and he was a bit more clear, or maybe I’m just understanding the accent better.
Here is what he said:
For his business he has to purchase liability insurance incase something goes wrong with his work and it hurts someone. This also covers his salary should he get injured and can’t work for a while. He pays about 60 pounds a month for this. (about $100)
Also in case he gets injured on the job he wants to have the fastest medical attention possible so he doesn’t have to stay away from work very long. So he buys his own private insurance. Because he is working in construction he is considered “high risk” so his policy is expensive. He pays a whopping 50 pounds per month. (just over $80).
In addition he has decided to purchase a health policy for his family (wife and 2 kids) that will let all of them access the private system over here. For this he pays 25 pounds per month. Um…. that’s only $40 per month for his whole family!
For those of you keeping track of the medical insurance costs, my friend who got Cobra insurance in the USA had to pay $3000 per month to cover his family of 4 for 6-months. This guy in the UK, though he has access to the NHS, decided to buy private insurance to cover himself and his family and pays a total of $120 per month for a family of 4. This difference is really why the insurance industry in the US does not want a public option.
When I told this guy about the costs of a Cobra policy for my friend, he stopped walking and looked at me like I was crazy. Told me that was unbelievable, shocking.
Sorry I had to make the correction to my earlier post but I think this might even illustrate the issue better. Small businesses in the US would get a HUGE boost from a public option. The self-employed would be sooooo much better off.