When you are self-employed and shopping for an individual insurance policy

12 Jun 2008

Lorne Zalesin

A self-proclaimed “serial entrepreneur,” CEO Lorne Zalesin successfully launched five startup companies from the ground level up.

Under Zalesin’s leadership, MyInsuranceExpert.com was formed in November 2006. To date, the company has grown to more than 30 employees and is currently available in nine states. By the end of 2009, MyInsuranceExpert.com will employ 150 people and will be available in 40 states, possibly more.

Zalesin earned a Bachelor of Arts and a Master’s in Business Administration from The University of Michigan.

He is also a graduate of the William Davidson Institute and Massachusetts Institute of Technology’s (MIT) “Birthing of Giants,” an elite educational program focused on successful leadership practices and unique growth strategies for entrepreneurs.
Most recently, Zalesin served as CEO of Bloomfield Hills, MI-based residential builder Bruce Building Company from 2004-2007.

Zalesin is a licensed residential builder licensed residential real estate broker, and is licensed in life insurance and health insurance. He also is the Chairman of the University of Michigan Hillel Board of Trustees.

Many self-employed individuals need to purchase their own health insurance policies, long before strategizing about their startup’s approach. When you are newly self-employed and looking to purchase, here are some quick tips:

Always compare multiple policies and prices. Don’t just look at insurance companies that “your parents recommend.” The market is incredibly competitive, so you never know what plan may be best for your needs and budget.

Understand what’s covered and what’s not. It is important to know that office visits and other “assumed” benefits will be included. Make a list of what is important to you (vision, dental?). There are over 300 competitive plans in this market alone.

Clearly understand the confusing “buzz words” of each potential policy. Make a detailed list of each policy – what is your co-pay, deductible, co-insurance and monthly premium?

Know the details. Does your plan include a health savings account? Which doctors and hospitals accept your coverage?