Health Insurance For Small Business
Feb 2nd, 2012
Health insurance coverage is a challenge most new business owners need to face. It’s a very important issue that has grabbed the headlines recently and the discussion on how to design a fair and affordable healthcare system for Americans needs to go on even after the laws are in effect.
Small businesses have limited income compared to much larger businesses. Having limited income makes it more difficult for them to afford health insurance.
It is essential to have health insurance coverage, especially if you have a family, a home, and a start-up business. Health insurance can be expensive, but it is a necessity, we cannot think of it as a luxury that can be waived off. Operating your own business is very fulfilling, but you will also have to face the stress it brings every day. Also, problems with stress management can have some ill effects. So, business owners need to stay healthy, and stay insured.
People need to realize that getting an individual health insurance coverage is very difficult. It is the most expensive way of getting insured. If you are about to lose your insurance coverage because you’re leaving work, you may want to look into maintaining COBRA insurance if it’s offered by your employer and you are qualified. This will at least allow you to have temporary coverage. It will be more expensive than an employer-sponsored plan, but you can still take advantage of a group rate.
A great option to consider is Healthy New York and joining organizations such as a local chamber of commerce or an organization in your industry. Groups like the Freelancers Union offer memberships to freelance artists or painters; benefits include more affordable health insurance. You may need to meet the organization’s criteria in order to qualify and this may include a membership fee, you will need to consider this option carefully.
You may be able to buy your health insurance at a group rate, if you have a business with at least two qualifying employees. Depending on the price model structure, a married couple may find that two individual policies may be a better bargain compared to a family plan.
Other plans like HMOs, EPOs and PPOs are also available. Some require you to pay high deductibles, others include prescription coverage. The best way to find the best health insurance for your needs is by calling a reputable insurance broker who works with several insurance companies. Weigh the cost of the plan against the coverage and make a decision. Get the best value your money can buy.
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