The Smaller Business Owners Guide To Getting Health Insurance
by Maria Marsala
Summary: The resources below may assist you as your consider which health insurance company to choose. This is not a recommendation of one program over another. Use the information below under your own discretion.
Finding health insurance, first after I ran out of COBRA while living in NY, then as a resident of two other states, can be difficult and is always more expensive then we want it to be, no matter waht the price. Today, we have the Internet and social networking to help us conduct our research more quickly. Use the information I've gleaned over the years to find a plan that fits you best. The comprehensive list below is a great place to start your search.
DISCLAIMER: It is the reader's sole responsibility to abide by all pertinent jurisdictional laws and regulations pertaining to their business and health. Each person is responsible and liable for the outcome of acting on any of the suggestions included in this article. You're on your own to research and/or purchase the program that is the most appropriate for you. Maria Marsala is not a licensed health insurance agent or broker and is providing this information as a resource list to get you started.
What Do You Already Have?
- Check what you might already have available from your previous job via COBRA. Note: My 20-30 year old customers have often found that their COBRA payments were more expensive than getting a new individual policy.
States Department of Insurance (DOI)
- Your state DOI has a list of insurance companies that are registered in your state. Many of the lists they provide let you know which companies offer individual or group insurance. You can also ask about complaints that have been filed against those companies. Note: When you purchase insurance of a company that is not registered in your state, if anything goes wrong, you have little to no recourse.
Friends
- Ask your friends and colleagues what companies they use. This is a great way to find out which companies to stay away from and which to explore.
Memberships
Many business and professional organizations include group health insurance as a member benefit. And individuals and business owners join organizations specifically for this membership benefit. So review the benefits of the organizations you belong to or that are located in your community. The list below may help you get started.
- Your local Chamber of Commerce or a nearby Chamber
- International Computer Consultants Organization www.icca.org/.
- Public Relations Society of America www.prsa.org.
- Fraternal companies and organizations such as Modern Woodmen of America, Knights of Columbus, Sons of Norway http://dmoz.org/Society/Organizations/Fraternal/Benefit_Societies/
- The company where you are a Independent Agent
- Associations where you are a member or are considering membership
- The National Association for the Self-Employed www.nase.org.
- Freelancers Union
- National Federation of Independent Businesshttp://www.nfib.com/.
- More organizations http://www.coachmaria.com/articles/networktosuccess.html.
State Programs
- Some states, Washington for example, provide basic health to lower income residents and many business owners fit this category, after expenses, for a few years. For additional information on what is available in your state, contact your State Insurance Department or visit their website.
Insurance Brokers
- Check your local Chamber of Commerce, networking groups, and social networking sites for Insurance Brokers local to you. I would check with 2 independent brokers in your area since they may deal with different companies. The broker is paid a commission by the insurance carrier you choose.
Department Stores
- Check your wholesale store memberships. In some states Costco, , www.costco.com offers health insurance to executive members who pay $100 a year for membership. I'm sure that other such companies do, too.
- Check your wallet for other membership associations you belong to to check if they offer insurance to their members.
Ask Your Doctor
- This may sound like a strange way to find insurance, however, it's the way I found insurance when I lived in NY. I really liked two of the doctors I went to. So I asked
both doctors for a list of insurance companies they accept. Then I checked to make sure that the companies were on the NY DOI list of registered companies (they all were). Next I got a list, from NY DOI, of the companies that have individual polices and crossed off, from my Doctors list the companies who would not insure me. I was left with 4 companies, researched them all and found one company that fit my needs.
Do you have a doctor(s) you really respect? If so, ask them which insurance policies they accept and start your research there.
Spouses and Domestic Partnerships
- In some states you may qualify as a "domestic partner" and therefore share in health coverage. In some companies, even in states where you might not qualify as a domestic partner, you may be eligible for insurance coverage. Your spouse may have coverage for you, too. Check it all out.
Other Companies
There are many companies, who provide, as part of their overall services, a health plan. Fraternal companies also are part of this category. Remember, check with your state to learn if these companies are registered and approved to sell in your state. Some I found while researching are:
- http://www.premera.com
- Freelancer's Union/Working
- www.ehealthinsurance
- http://www.benefactorhealthplan.com/ahp/
- http://www.insurancebudget.com/
- http://www.fb.org/
- www.healthinsurance.com/
- http://www.uhc.com/
Recommendations
- Personally, I've met many insurance brokers and I'm sure you have, too!
BONUS Suggestions
- 1) Worth repeating: Do not bypass contacting your states health insurance department to learn if companies are legally allowed to do business in your state.
2) Every 3 years, conduct a check of the health services and prices available in your area. Why pay more than you have to? And remember... always check with your state's DOI before purchasing insurance from a company - off or on-line.
3) Once you find a company or two you might want to go with, check for complaints online http://www.google.com/search?hl=en&rlz=1T4GGIH_enUS239US239&q=health+insurance+complaints
© 2012 Elevating Your Business. An unstoppable entrepreneur, Maria Marsala is a business strategist, financial advisor coach, speaker, and author. Her clients are independent accounting, financial, and insurance advisors. She guides them to increase their productivity and profits, growing their businesses to serve their lives — not the other way around. Download her free Business Evaluator to quickly learn which areas of your business are screaming for your immediate attention and which areas deserve a big hurrah! Visit www.ElevatingYourBusiness.com
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