Affordable Self Employed Medical Insurance
Jun 28th, 2011
If you have a small business with employees ranging from 2 to 50 and you’re looking for a self employed medical insurance for you and your employees, you have 4 options to choose from: You can apply for self employed health insurance through private insurers or you can also apply through government-subsidized private insurance plans for small business owners. Your cheaper alternatives would be to join an association or group that would enable you to apply for group health insurance plans or to apply for government health care programs.
If you want to save on your employees’ health care without skimping on their benefits, see if you qualify for Healthy NY. Healthy NY is a New York health insurance program for working and self-employed individuals. This is an affordable option because it’s state-subsidized. Healthy NY plans are being offered by various carriers. The premium rates vary depending on the carrier. There are eligibility requirements to qualify for Healthy NY plans:
- You should be a New York State resident
- You have not more than 50 employees
- 30% of your employees should have income not more than $40,000 annually (before tax)
- For at least 12 months, you were not able to provide health care coverage for your employees or they were underinsured.
- You must be willing to contribute half of the premium cost (for full-time employees)
The Healthy NY benefit package is streamlined so regardless of the carrier, they offer the same benefits. Benefits will include inpatient and outpatient hospital services, physician services, maternity care, preventive health services, diagnostic and x-ray services, and emergency services.
Pre-existing conditions are physical or mental illnesses wherein you received treatment for the past six months before your application. Pregnancy is not considered a pre-existing condition for small group policies. If you or your employees have a pre-existing condition, treatment, and prescription for this particular condition will not be covered for 12 months. But there is a chance that the 12-month waiting period will be waived or reduced if your previous coverage ended not more than 63 days before your application to Healthy NY.
If you are located in Brooklyn you can also check if you qualify for Brooklyn HealthWorks. It is a low-cost self-employed medical insurance program by The Brooklyn Chamber of Commerce, GHI (Group Health Incorporated), and the New York State Department of Insurance. They have two HMO (Health Maintenance Organization) plans available: Brooklyn HealthWorks Total and Brooklyn HealthWorks Max. For detailed information, check the Brooklyn HealthWorks website.
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