As it is open enrollment time, many use this to look for more affordable health insurance options especially if you are looking for an individual plan. There are many options for an individual to obtain affordable health insurance coverage. Keep in mind that there are savings in numbers, the more people in a plan, the better the savings for each member.
In some states, like Florida you may purchase group policies for a group of one. Some states allow a two-person policy to qualify for a group rate. If you are a sole proprietor and your spouse helps you with things like bookkeeping, filing or mailings, you may be able to claim them as an employee and get the group rate.
Another option for the self-employed is the National Association for the Self-Employed (NASE). NASE offers self-employed individuals the choice to deduct 100% of their medical premiums and 100% of their non-insured medical expense from state, federal and self-employment taxes through a program called Section 105 HFR.
If you are not in a business, do not despair. You may be able to enjoy the lower premiums associated with group plans by joining an organization such as trade or alumni associations. For instance, as a writer, I might elect to join a group association targeted to help writers secure discounted health insurance. Groups such as ASJA American Society of Journalists and Authors.
Fitness instructors might elect to participate in the health insurance program offered through IDEA, an organization of health and fitness professionals. Pregnant women may join the American Pregnancy Association which offers government funded programs and discount health programs such as the Maternity Card AmeriPlan.
Because association health plans are not subject to the various state regulations that group health plans are subject to, they are able to offer cheaper insurance coverage. Keep in mind, however, that an association health plan is different from a group health plan in that the association does not have to offer the same premium for each member.
COBRA (the Consolidated Omnibus Budget Reconciliation Act of 1985) guarantees a continuance of coverage when you leave your employer. This coverage is made available for 18 months after you leave. You have a 60-day window after termination of employment to shop for your own individual health plan. This window of time is critical to the insurance shopping process. If you have any thought of leaving your employer then it is imperative that you investigate the availability of individual health insurance.
Remember – Individual health insurance is medically underwritten. That means that the insurance company will gather all applicable medical information on you and or your family to determine if they can offer you an individual plan.
Things to consider:
1 Health – Do not presume that you or any of your family is Insurable. There may be certain pre-existing conditions that are covered by some companies and excluded by others.
2 Self-Insuring – The higher deductible that you elect will decrease your premium dramatically. This is called self-insuring. Some companies have deductibles that go as high as thousands.
3 Insurance Company – There are many reliable insurance companies in the health insurance industry use their quotes to compare coverage.
We have done the research so you don’t have to.
When it comes to finding affordable health insurance options, you can spend hours doing your own research or you can make a single call to Grantlyn Health Insurance.
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