Are You Covered? Health Insurance For Small Businesses

If you are a sole proprietor or small businessGroup Health Insurance
owner and require health insurance for you orFor small employers (2-50 employees) group
your employees, there are many options availablehealth insurance plans are a good idea if you want
that will provide coverage for a reasonableto provide adequate coverage for yourself and
premium. You will, however, be required to carryyour small group of employees. According to
out a good amount of research before finding anguaranteed issue, insurance companies must sell
insurance company that will suit your needs, assmall employers small group insurance under most
there are a lot of choices out there. In addition,circumstances. If you and your group fall within
you have to ensure that the company youthe participation requirements you cannot be
choose for your health insurance coverageturned down. An employee is considered insurable
provides the kind of plan that will be mostif he/she works for you a minimum of 24 hours
beneficial in times of greatest need.a week on a regular basis ¨C this includes
Individual Health Insurancehousehold workers.
Individual health insurance is coverage intended forUsually a group health insurance plan requires that
one person. If you are self-employed or run youra certain percentage of your employees
own business, you don¡¯t have accessparticipate in the plan and you might have to
to a group health insurance plan through ancontribute a minimum percentage of their
employer, and must purchase your own coveragepremiums. Luckily, guaranteed renewability makes
from one of the many health insurance providersit so that you cannot have your coverage
located in your state.cancelled if one of your workers becomes ill. This
There are some pitfalls to obtaining your healthis definitely a plus so you always have access to
insurance from the private sector. For instance,continuous group coverage and are never left by
limitations exist that might make it difficult tothe wayside without the proper insurance.
derive guaranteed benefits from a privateHMOs and Blue Cross Blue Shield, again, are
insurance policy as an individual. Private companiesprohibited by law from charging more due to the
have a right to ask you for information regardinghealth status of one or more employees. At the
your current and past health, and are also allowedsame time, private companies are allowed to
to reject you for insurance purposes based oncharge higher rates if they deem it necessary.
your health status, or impose limitations on yourIn addition, someone who is self-employed with no
coverage.other workers may be able to purchase small
Blue Cross Blue Shield, on the other hand, isgroup health plan coverage from Blue Cross Blue
required by law to sell individual health insurance toShield. Specifically, sole proprietors are given the
any resident regardless of health status. This isoption of buying
referred to as guaranteed issue. They must also¡°group-of-one¡± policies from
refrain from charging you more due to anythis organization. Other insurers also offer this
current or preexisting conditions ¨C this istype of coverage but are not required to offer it.
called community rating. HMOs are also required toYou are a sole proprietor if you: are a resident of
sell health insurance to any individual during theyour state, work at least 30 hours a week and
30-day open enrolment period that occurs eachgain at least 50% of your taxable income from
year.your business.
Individual health insurance policies can varyIn addition, self-employed individuals can have
depending on the company. There are no laws100% of their health insurance premiums
that force private companies to offer the samededucted from their federal income tax. If you
health insurance products so coverage plans fromare a member of a professional or trade
different providers can offer quite differentassociation you might be able to receive group
coverage. But certain benefits for health insurancecoverage under the organization¡¯s
must be provided in the coverage, includinginsurance umbrella.
mammograms and diabetes care.