The Smaller Business Owners Guide To Affordable 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, as a business owner, can be difficult and is usually expensive. But it doesn't have to "break the bank". When I became a business owner, I did a LOT of research before finding insurance. The list below is a comprehensive list of insurance resources I found and a great place to start your research. If you find an additional resource, contact me and I'll add them to the list.
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 Did You Have?
Check what you might already have available from your previous job via Cobra
- 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
- The National Association for the Self-Employed, www.nase.org.
- Alliance for Affordable Services
- 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.
- States Department of Insurance (DOI)
Talking about your state DOI, you can request a list of insurance companies that are registered in your state. 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 NO recourse.
- Insurance Brokers
Check your phone book for Insurance Brokers to help you determine the best deal for you. I would check with 3 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, etc.
Check your department store and wholesale store memberships. In some states Costco, , www.costco.com offers health insurance to executive members who pay $100 a year for membership. So I recommend that you check every membership you possess to see if you already have a company who will insure you.
- Ask Your Doctors
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 take. 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.
- 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.
- 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:
- 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
© 2010 Elevating Your Business. Maria Marsala helps remarkable women CEOs get a life and future from their business by providing accountability, support and a (gentle) kick in the a** when needed. Quickly learn which areas of your business scream for your immediate attention and which areas deserve a hurrah! Take our Business Checkup today at www.CoachMaria.com
WANT TO USE THIS ARTICLE IN YOUR EZINE, Blog OR WEB SITE?
© 2010 Elevating Your Business. Maria Marsala helps remarkable women CEOs get a life and future from their business by providing accountability, support and a (gentle) kick in the a$$ when needed. Quickly learn which areas of your business scream for your immediate attention and which areas deserve a hurrah! Take our Business Checkup today at www.CoachMaria.com
WANT TO USE THIS ARTICLE DURING A PAID ENGAGEMENT?
You must not use our articles in your ebook, to teach a class, or during a speaking event, or if you are paid in any way without our written permission, period. Contact Maria for permission.
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