VISTA Health Solutions

The hottest topic currently debated in New York is medical insurance for the small business proprietor and the self-employed entrepreneur. Unfortunately it is becoming impossible to attain an affordable health insurance, especially for those individuals who are and remain viral and healthy as well as the elderly population. For the self-employed entrepreneur and the business proprietor the entire situation is in dire straits. It is not only the availability, but also the affordability of New York small business entrepreneur and the self-employed entrepreneur.

The cost for medical insurance is just so out of reach most decide to live and work in New York and forfeit the insurance. The underwriting policies in most states, New York included is obsolete. The practice of the insurance companies having the ability to deny medical health insurance coverage or the ability to charge much higher premiums is in fact unconscionable.

It is becoming very difficult for citizens of New York to attain exhaustive insurance policies for low prices since New York small business insurers are unwilling to take the risk.  A large proportion of employers today are eliminating New York small business insurance benefits leaving their employees in a lurch. The self-employed entrepreneur and the small business proprietor have, if they are fortunate, limited medical coverage with a very high price tag attached.

Through here, we try to explain and deliver details of how expensive the health care insurance system is in New York. Below is a small example of the high cost for medical health coverage. This is contingent on a healthy couple with no pre-existing conditions attached and includes all the standard coverage such as hospitalization, co-payments, office visits, prescription drug coverage, and 60-40 payout ratio.

1.               Husband and Wife 21-31 years old                            $842.00 dollars per month

2.               Husband and wife 31 -41years old                            $886.00 dollars per month

3.               Husband and wife 41-51 years old                            $878.37 dollars per month

4.               Husband and wife 51-61 years old                      $1000.00  dollars per month

Considering these figures it is no wonder why the small business proprietor and the self-employed entrepreneur are discontinuing their medical insurance until a more affordable, low cost health insurance plan is in the offering. Many small business proprietors and self-employed entrepreneurs are at the brink of dropping their medical insurance coverage in New York.

Some are even considering moving to another state in the region for the sake of obtaining health benefits for an effectively lower rate with more comprehensive coverage. At the present time the medical insurance providers are re-rating insurance policies on a quarterly basis to track the financial performance through the annual cycle.

The medical insurance rates for the self-employed entrepreneur and the small business proprietor are significantly higher than the cost for others living and working in the New York area. The reason for this is because the larger corporations can shop and purchase low cost health insurance in bulk or group form. There are a few small businesses that push the envelope and have the limit of fifty employees. This is how they are able to buy into the medical health group plan and afford the lower premium rates.

The state of New York worked diligently to help reduce the medical insurance premiums and expand the eligibility in order to encourage the enrollment of the small business proprietor and especially the self-employed entrepreneurs who generally have no medical insurance at all. The state of New York is managing to introduce this new program through the utilization of the HMO or Health Maintenance Organization to provide the option of affordable health insurance.

The employers who offer the new HMO insurance package to their employees participate through the state law to cover at least 50% of the average monthly cost for health insurance. The lower premium rates are possible through a few main features of this program.

1.               The benefit health package does not include the full range of services.

2.               The benefit health package requires higher than usual co-payments.

3.               The benefit health package requires higher than usual deductibles.

4.               Health provisions are obtainable from enlisted network providers.

The reduced health insurance benefit package, unlike the typical medical insurance policies sells in the New York State’s small business proprietor and the self-employed entrepreneur market. Buyers beware though because this generic health package eliminates medical health coverage for mental health care, chiropractic care, home health care and the necessary health treatment for alcoholism and substance abuse.

There is in place a $3000.00 cap on the total prescription drug package included with this offer through the state of New York. In recent times the prescription drug program terminated due again to the high cost of prescription medication. Prescription coverage under the original version of the health care provision though was covering generic drugs already in existence, excluding any new introduction of prescription drug medication. The stop-loss medical provision was an introduction to cover up to 90% of claims between $30,000.00 and $100,000.00 for any individual, reducing the risk to the HMO. A variety of the most recent changes to this medical health program, such a incorporating the choice of health benefit packages were by recommendation.