The New Health Insurance Solution: How to Get Cheaper, Better Coverage Without a Traditional Employer Plan

Overview

You no longer need a traditional employer plan to get good, affordable health insurance. The New Health Insurance Solution can help you cut your health insurance costs in half if:

  • You're self-employed, an independent contractor, or your employer doesn't provide health insurance (you can probably get coverage on your own for about $94/month—a fraction of what an employer would have to pay for the same coverage)
  • You are employed and pay extra to...
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Overview

You no longer need a traditional employer plan to get good, affordable health insurance. The New Health Insurance Solution can help you cut your health insurance costs in half if:

  • You're self-employed, an independent contractor, or your employer doesn't provide health insurance (you can probably get coverage on your own for about $94/month—a fraction of what an employer would have to pay for the same coverage)
  • You are employed and pay extra to cover your spouse or children under your employer-sponsored plan—you may save 50% by taking them off your employer plan
  • You own a small business and are getting killed by double-digit premium increases—you can now give employees tax-free money to buy their own plans and get your company out of the health insurance business

The book also explains in detail the best solutions for you if:

  • You can't find affordable health insurance because you or a child have an expensive preexisting medical problem (your state has a program to provide you with guaranteed coverage )
  • You're currently putting money into an IRA or a 401(k)—because you don't realize that an HSA is always a better option
  • You're unsure how you or your parents will be able to afford health insurance during retirement, or how to maximize benefits from Medicare—including the new Part D prescription drug plan

The New Health Insurance Solution is the definitive guide to the new ways every American can now get affordable health care—without an employer.

PAUL ZANE PILZER is a world-renowned economist, a former advisor in two White House administrations, an entrepreneur/employer, an award-winning adjunct professor at NYU, and a New York Times bestselling author.

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Editorial Reviews

Library Journal
Forty-five million Americans are without health insurance, mostly because they are unable to obtain it through employment and earn too much to qualify for Medicaid. Economist Pilzer (Other People's Money) asserts that most people-even those with coverage-would be better off buying their own policies than relying on their employers. He provides an overview of the health insurance industry and explains why coverage is so expensive for both employers and individuals. Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), indemnity plans, Exclusive Provider Organizations (EPOs), flexible savings accounts, health reimbursement arrangements, health savings accounts, state-guaranteed subsidized insurance, Medicaid, and medical discount cards are all defined with their advantages and disadvantages. Suggestions for choosing appropriate health insurance, including what to look for in a policy, are outlined; tips for maximizing benefits, especially in purchasing prescription drugs, are helpful. Chapters aimed specifically at employers address finding decent insurance for workers. Pilzer explains an incredibly complex subject well for the committed reader. Recommended.-Janet M. Schneider, James A. Haley Veterans' Hosp. Lib., Tampa Copyright 2005 Reed Business Information.
Soundview Executive Book Summaries
How To Get Cheaper, Better Coverage Without A Traditional Plan
Worldrenowned economist and former White House adviser Paul Zane Pilzer writes that Americans can now get health insurance for themselves at a lower price than they are paying through their company plans. In The New Health Insurance Solution, Pilzer explains, "It is now possible to get better, cheaper, safer insurance than you are getting from your employer, save thousands of dollars each year, and protect you, your family, or your business from the greatest threat to your financial future — our nation's broken employerbased health insurance system."

According to Pilzer, the health insurance revolution has begun. He explains that in the last two years, new legislation and regulations have dramatically changed the landscape for health insurance. These changes now allow most Americans to buy their own health insurance that is better and cheaper than their employer's insurance. The purpose of his book, Pilzer writes, is to show readers how to take advantage of these changes.

Medical Bankruptcy
Pilzer explains that individual/family health insurance policies are better for most people because they are independent of an employer, so you don't lose your health insurance if you lose your job. He writes that losing jobrelated health insurance is how up to 1 million Americans end up in medical bankruptcy each year. Pilzer also explains that an individual/family health insurance policy costs about half the price of an employersponsored group plan for similar coverage.

In addition, Pilzer writes, employers are now able to offer each one of their employees his or her own permanent individual/family policy, and reimburse each employee taxfree for the cost of his or her monthly premium, "instead of offering a very expensive onesizefitsall group policy."

Today, health care costs consume almost onesixth of America's economy, Pilzer explains, "and, during your lifetime, medical and health insurance costs are likely to be your largest or second largest expense after housing. That's if you're lucky enough to have health insurance." He adds that even if you have health insurance, your traditional employersponsored plan might be the biggest threat to your financial future.

Health insurance is also a giant problem for employers as well, Pilzer explains. General Motors, he points out, "is in serious trouble because health insurance adds $1,550 to the cost of every car it sells. The cost of health benefits now exceeds profits for most of the Fortune 500." He adds that many small businesses fail each year because they cannot afford to pay the premiums for their group health insurance plan, which in turn hurts American competitiveness in the world marketplace.

Never Go Without
No one should ever go without health insurance, Pilzer writes, and "there are health insurance options for every American." He explains that in most cases, anyone can get good health insurance today for an individual or family for $150 to $300 per month.

To help readers obtain individual/family health insurance, Pelzer provides much advice and many tips for finding the right policy. One tip he offers is to be careful when shopping online for health insurance, "and watch the fine print." He adds, "A good online insurance Web site will not ask you for your name or contact information until you have seen quotes and are ready to choose a policy."

Throughout The New Health Insurance Solution, Pilzer describes the legal rights people have to health insurance when they lose or change their jobs; how they can buy their own lowcost, highquality health insurance policy; and the best options for employees with a good company plan. He also details the benefits of Health Savings Accounts and how they allow Americans to save hundreds of thousands of dollars, taxfree, for their "future medical expenses or retirement — while financially reforming the entire U.S. health care system."

Why We Like This Book
The New Health Insurance Solution explains in layman's terms how readers can save money, and teaches them the most important aspects of the economics of health insurance. By breaking down his ideas and advice into simple concepts, and spelling them out in easily understood charts, Pilzer provides readers with highly actionable advice that can have a dramatic impact on their wallets and lives. Copyright © 2005 Soundview Executive Book Summaries

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Product Details

  • ISBN-13: 9780470040218
  • Publisher: Wiley
  • Publication date: 1/2/2007
  • Edition number: 1
  • Pages: 340
  • Product dimensions: 6.08 (w) x 9.07 (h) x 0.91 (d)

Meet the Author

PAUL ZANE PILZER is a bestselling author, entrepreneur,world-renowned economist, and a White House advisor to twopresidents. He is the founder of Zane Benefits, a leading providerof individual, employer, and family health insurance. His previousbooks include the New York Times bestseller God Wants You to BeRich, The New Wellness Revolution, Other People's Money, andUnlimited Wealth. For more information, visitwww.paulzanepilzwer.com.

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Table of Contents

Executive Summary: New Health Insurance Solutions for Individuals,Families, Self-Employed, and Businesses.

Preface.

Acknowledgments.

PART I: How to Better Protect Your Family While Saving $5,000+Each Year: Savvy and Affordable New Health InsuranceStrategies.

Chapter 1. You Are One Serious Illness Away from Bankruptcy: TheHuge Gaps in Your Employer's Health Insurance Plan.

Chapter 2. Why Buying Your Own Health Insurance Is Better,Cheaper, and Safer Than Your Company Plan.

Chapter 3. Your Legal Rights to Health Insurance When You LoseYour Job or Change Jobs: ERISA, COBRA, and HIPAA.

Chapter 4. How to Buy Your Own Log-Cost, High-Quality HealthInsurance Policy.

Chapter 5. The Best Options for Employees with a Good CompanyPlan: High Deductibles, Disability, Cafeteria Plans, FSAs, andHRAs.

Chapter 6. Health Savings Accounts: Why You Should Fully FundYour HSA before Putting Even $1 in Your IRA or 401 (k) ...and Howto Build a $500,000+ HSA Nest Egg.

Chapter 7. What to Do if You or a Family Member Has a MajorHealth Problem.

Chapter 8. How to Get Affordable Medical Care When You Are Over55: Early Retirement, Medicare, and Long-Term Care.

Chapter 9. How to Save 10 to 75 Percent on Your PrescriptionDrugs.

Chapter 10. How to Be a Smart Healthcare Shopper, Stay Healthy,and Keep the Savings.

PART II: How Businesses Can Fix their Health Insurance Nightmarean Still Hire great Employees.

Chapter 11. How Employers Can Save 50 Percent by GivingEmployees Tax-Free Dollars to Buy Their Own Health Insurance:Defined Contribution Health Benefits.

Chapter 12. HSA Plans for Employers: Why Every Employer ShouldEncourage Tax-Free Employee Contributions to HSAs.

Chapter 13. HRAs for Employers: How to Use HRAs to Save $2,000to $6,000 per Employee Each Year While Getting Your EmployeesBetter Health Insurance.

Epilogue: The Future of Affordable Health Insurance inAmerica-Who Wins and Who Loses?

Appendix A. State-by-State Guide to Individual/Family HealthInsurance Costs.

Appendix B. How Americans Get Health Insurance Today...and Whatabout the 45 Million Uninsured?

Notes.

Index.

About the Author.

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Sort by: Showing all of 5 Customer Reviews
  • Posted December 12, 2009

    The material is presented in a very thoughtful, well researched way. It The author provides useful information for the General public, the businessman, the insurance practitioner, and the researcher.

    This book is the first serious effort into the new health care delivery system known as DEFINED CONTRIBUTION. It is an important work in that it provides a historical timeline of WHERE it came from and what early laws it is based on. I would like to see a follow-up by another serious author to bring this concept into more current times. The book's timeline STOPS with the passage of the Medicare Modernization Act of 2003. It is now the closing days of 2009, and we are awaiting some form of OBAMACARE which will provide new rules for the Health Care marketplace. This scenario lends itself to a new treatment of this very important concept.

    SS - Van Cortlandt

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  • Anonymous

    Posted June 24, 2006

    Dont Buy This Book.

    I just spent $25 for this book at B&N in my area. In my opinion, dont waste your money. The author says you can get health ins. for about $96 permonth. What he doesnt tell you is that this rate is for a very healthy 24 year old. If you are , say, 55 then you pay way over $300 permonth for just yourself! plus you will have to cover thousands of dollars in deductibles. My opinion is to use your $25 cost of this book to buy food or pay a bill, since you are most probably out of work anyway.

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  • Anonymous

    Posted December 7, 2005

    A reviewer

    Short and sweet. Any time someone takes the time to inform the public and help, this is good. This is what this book does. It may not have the answers to everyone's problems but it certainly provides information on how to get insurance at an affordable price and puts somethings into perspective, such as insurance companies only want to generate revenue at your expense and will do whatever, to escape fulfilling their contact obligations. The reality is, forget about insurance as anything other that for catastophic coverage.

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  • Anonymous

    Posted January 15, 2006

    Incredible

    What a revelation! I work for a small company with group insurance and the president of our company recently gave us this book to read in advance of switching to individual health insurance and setting up HSA's. The savings going into our pockets is truly unbelievable. Plus, if I leave this company, my health insurance and my HSA go with me. Our boss had to search for months to find an insurance agent who knew anything about this. He even suggested to the person responsible for our group insurance read the book! Luckily he found an insurance agent who has been beneficial in implementing this plan across the US. This is especially beneficial for small companies who cannot possibly expect to receive affordable group insurance. I plan on giving this book to several people I know including another small company with group health insurance. I am so excited about the possibilities.

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  • Anonymous

    Posted October 26, 2005

    Priceless Information on Every Page

    I have never written a review, but I feel compelled to disparage the the previous reviewer ('For the Rich Only') who obviously has never read this book--this guy also posted the same negative review elsewhere on the web. Pilzer does advocate high deductible health insurance for some people, but clearly shows you step-by-step how to analyze whether high deductible will save you money and, as Pilzer points out, Pilzer himself switched from a high deductible to a tradtional policy when high deductible was no longer the best deal for his family. Now, to the main point, this book is absolutely amazing! It contains priceless information on every page and hundred of 'tips' that are so clear you wonder why no one ever told them before--like how to get 3 1/2 months of free COBRA coverage each time you change jobs. The chapter on Medicare, or the chapter on getting coverage for a sick child or spouse, or the chapter on long term disability, are each worth 100 times (Iiterally) the cost of this book. I'm not an employer, but Part II of this book, how employers can give employees tax-free allowances to buy their own permanent health insurance, makes tremendous sense. Buy this book. You will save lots of money and finally know how to get what every American deserves---permanent, safe, lifetime, affordable health insurance.

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