Wednesday, August 5, 2009
During the current open-enrollment period, single-group employers, sole proprietors, independent contractors and others may obtain health insurance or switch plans on a guaranteed-issue basis. The group includes many Realtors.
Some citizens with pre-existing conditions cannot find an insurance firm willing to offer them health coverage; but if they are self-employed, they can get group coverage during August that is guaranteed-issue. The group insurance is not, however, inexpensive, and can cost as much or more than comparable personal health insurance. Consequently, the group insurance sign up period primarily attracts self-employed who can afford coverage yet have a pre-existing condition.
I am reaching out to our states small business owners, who are the backbone of California economy, and urging them to take advantage of this open-enrollment period, says California CFO.
Through August, insurers and Health Maintenance Organizations (HMO s) that write small-group policies must offer basic and standard coverage to self-employed. Policies written or renewed in August have a plan start date of Oct. 1, 2009. Applicants must meet all the conditions established by law, and provide documentation verifying the operation of an active business, including tax forms, license information and business receipts.
In addition to vital and standard policies, coverage options include health savings accounts (HSAs) or health reimbursement arrangements (HRA s). HSAs, which operate like Individual Retirement Accounts (IRAs), allow people to save money in a tax-free account for use on health-related expenses. If the money is not spent, it rolls over annually and accumulates until the policyholder reaches age 65, at which time the money can be used for any purpose.
Some citizens with pre-existing conditions cannot find an insurance firm willing to offer them health coverage; but if they are self-employed, they can get group coverage during August that is guaranteed-issue. The group insurance is not, however, inexpensive, and can cost as much or more than comparable personal health insurance. Consequently, the group insurance sign up period primarily attracts self-employed who can afford coverage yet have a pre-existing condition.
I am reaching out to our states small business owners, who are the backbone of California economy, and urging them to take advantage of this open-enrollment period, says California CFO.
Through August, insurers and Health Maintenance Organizations (HMO s) that write small-group policies must offer basic and standard coverage to self-employed. Policies written or renewed in August have a plan start date of Oct. 1, 2009. Applicants must meet all the conditions established by law, and provide documentation verifying the operation of an active business, including tax forms, license information and business receipts.
In addition to vital and standard policies, coverage options include health savings accounts (HSAs) or health reimbursement arrangements (HRA s). HSAs, which operate like Individual Retirement Accounts (IRAs), allow people to save money in a tax-free account for use on health-related expenses. If the money is not spent, it rolls over annually and accumulates until the policyholder reaches age 65, at which time the money can be used for any purpose.
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