I was talking to my husband last night about whether he would ever want to go "freelance". He works for a very large company in IT that has been very good to him over the last 10 years...but I wonder both how long that will last, how much his salary can continue to go up, how much longer he will continue to enjoy it....etc.
He said he's been thinking about it, but worries about Healthcare costs. He comes from a country where this is not an issue...there is public healthcare and entrepreneurship and/or going out "on your own" is a much easier venture because of it.
My question is, for those of you who are already out on your own or who are considering it...do you have a cash stache to cover catastrophic events or very expensive illnesses? Or how does that work with your private health insurance?
My mother has cancer and without her employer's health insurance, they would surely be broke....and they are in VERY good financial shape. But her medication is ridiculously, insanely expensive. Not to mention all the medical equipment/aides that have been required in the past 12-18 months to care of her.
And, I think of another friend who was in great health, training for a triathlon, who was diagnosed with ALS at 41. If it were not for good health insurance and Long Term Care insurance, his family would have been left bankrupt.
Are these things that other people worry about when they leave employer-provided health insurance? Or is there something I'm missing? I mean, I know that healthcare (or lack of it) is one of, if not the, biggest cause of bankruptcy in this country.
Thoughts? Advice?
Thanks
Jules