Have you ever heard the quote “If you got it, a truck brought it?” Well, that’s true. Transportation may be the most important component of commerce in the U.S. today. Anything purchased or procured has to get from point A to point B. That is why there are so many trucks on the road. They move the goods we need to function as a society 24 hours a day, seven days a week. Many of the people who drive these vehicles own them and operate them as small business. As with any small business owner, these folks have decisions that need to be made regularly so as to keep the business profitable and viable. Independent trucking can be quite profitable if the cost of overhead is managed properly.
One of the expenditures owner operators struggle with is health insurance coverage. major medical costs seem to escalate almost monthly. Couple that with the fact that the truck driver lifestyle can contribute to health concerns such as heart disease, adult onset diabetes, carpal tunnel, just to name a few, not to mention trucking is one of the most dangerous occupations, Going without some sort of medical plan is really not a smart option.
There are many health insurance companies that offer plans for individuals, though they can be quite expensive. Accepting a high deductible plan can lower the premium but then you have to come up with a lot of cash in the event of a health issue. Organizations such as the Owner Operator Independent Drivers Association (OOIDA) offer plans designed specifically for the Independent Trucker. Another option for small business owners of all types is a what is known as a Limited Medical Plan.
Also know as Defined Benefit Plans, these plans pay pre-determined amounts for services such as office visits, procedures such as lab work, ICU, critical care, surgeries, and even anesthesia. Some have prescription plans. Some are even HIPAA compliant. Most of these plans will cover you regardless of past medical history. The premiums on limited medical plans are generally quite affordable when you compare them to what you get with a basic major medical plan. When the only other option is to do nothing, defined benefits make a lot of sense.