When you are at the end of your rope, you hope there is a knot there to help you hang on just a little longer. That’s what Ryan Waters is trying to do. Truly, this gentleman has been and wants to be fully responsible for his health insurance. It has to be a humbling experience to discuss your medical and financial situation on camera to total strangers.
COBRA, HIPAA, MESS
The lynch pin in the financial scenario is Ryan’s transition from COBRA health insurance to a guarantee issued HIPAA plan. Once you exhaust COBRA you must be offered a guarantee issue plan regardless of your conditions. The downside is the monthly premium is in the $600 – $900 range for most adults. This premium jump can really shoot a hole in a budget for someone who is unemployed.
Healthy people equal productive people
I know lots of people who have let their COBRA expires and never take HIPAA because of the cost. Mr. Waters is trying to be proactive. He knows his condition will only get worse if he doesn’t stay in treatment. If Mr. Waters can stay healthy and get back to a place where he is productive, our community will be the better for it. If Mr. Waters forgoes health insurance and has to use the emergency room for care, that just shifts the costs to other health insurances plan members and tax payers.
My name is Ryan and I am seeking donations to assist me in purchasing health insurance and prescriptions. I worked hard as a salesman for 25 years. At age 42, I discovered I have Bi Polar Disorder, Panic and Anxiety disorders and diabetes. I had to leave my job as my condition deteriorated to the point where I was no longer functional. I had to be hospitalized for 3 weeks last year but my health insurance did not cover in patient mental health care. The stay was for the doctor to observe me and adjust medications. I had to open my 401k to pay for this $20,000 hospital stay. (Click here to view the video and full post on Indiegogo)
Fortunately, the psychological drugs work well but my insurance premium is jumping from $300 per month to over $800 per month in October because of my current medical conditions. I am trying to obtain Social Security Disability Insurance (SSDI) after trying to go back to work on three different occasions. I am no longer able to concentrate and the stress sets off manic episodes making me unproductive and unable to attend to my clients. I am over qualified for every job I apply for. I am on Cobra which will convert in October to the $800 figure mentioned above.
I calculate my insurance premiums to total $20,000 over the next two years and my prescription costs which are $200 per month will total 2400 and office copays between my psychiatrist and medical doctor will total $400 or so. I am seeking 25,000 to meet my health insurance needs during this period. I am trying to earn money through home business sales but my income is minimal. My savings are running out. At this rate I will be flat broke by the end of the year. The diabetes supplies including insulin and test strips are extremely expensive. I try to economize and use the minimum amount of psychiatric and diabetic medications but I always end up worse off than when I was on the medications as directed by my doctors.
I know times are tough for everyone so please contribute if you can. If you cannot, please let other people know of my situation. I want to get well and stabilized so I can find a job in this tight market. Being off work is not helping my prospects and I need to be able to stay on my medications in order to be stable enough to work. Thank you for your help.
By the way, if I collect more than I need, I intend to find someone else at this site to contribute toward their needs.
Remember to use the Indiegogo share tools.
If Mr. Waters has a lapse of insurance for 6 months and has been declined by a carrier, then he will be eligible for the Pre-Existing Condition Insurance Plan subsidized by the federal government. With luck, all of this nonsense will go away when the ACA is fully implemented in 2014.