Frequently Asked Questions
Can I write off my premiums as a business expense?
Sometimes. You will want to consult a tax professional FIRST. There certainly are health plans which you can write off as a business expense. HOWEVER you do want to make sure it is done properly by your CPA.
What are the minimum requirements to offer coverage to employees?
When it comes to offering health benefits to employees there are a lot of factors to consider. If you have 50 or more employees you will be required to not only offer ACA compliant coverage but also contribute 50% or more to employee premiums.
I specialize in small businesses with 1-30 employees. As a small business owner you have no minimum participation or minimum contribution to worry about. This allows you a lot more flexibility so you can remain under budget without sacrificing benefits.
I am a single member LLC. Can I still get health coverage for myself/family through my business?
Yes! You will always want to consult a tax professional. However there are plans designed for and around small business owners.
What happens if I miss open enrollment?
This only applies to Public Marketplace/ACA/Obamacare plans. You can also get on these plans with a qualifying life event or during Open Enrollment. Public plans can also be canceled at any time. So if you were to find coverage somewhere else that fits you better, there is no issue switching.
Private plans are available year-round! There are no limitations of when you can get on and off of private healthcare.
Is private health insurance really expensive?
It is much less expensive than you think! Since the rates for private healthcare are based on health and not income, you will generally see lower prices AND better benefits if you can qualify. Typically healthy applicants can save thousands per year!
What are the biggest differences between ACA/Obamacare Health Insurance, Employer Coverage, and Private Health Insurance?
ACA/Obamacare is best for those with pre-existing conditions or those needing maternity coverage. It is affordable if you are under the income threshold that qualifies you for government subsidies. If you aren’t getting government assistance, it is extremely expensive. These plans are mostly high premium/high deductibles because anyone can get on them. For that reason they spend significantly more in claims each year.
Most employer plans are great for the employee because the employer is legally responsible to pay 50% of the employee’s monthly premium if the company has 50 or more employees. The downside is that the employer is not responsible for paying anything towards family add-ons. This causes the price to jump up significantly when adding family members and can get pretty costly because the family will be paying full price to be added to the plan.
Some private insurance is medically underwritten, meaning you have to qualify based on your health. Since you are in a lower-risk category, you get lower premiums and preferred rates, so they are more affordable than most plans and provide BETTER coverage.
Can I cancel at any time?
Yes, there is no contract for any health insurance plan, besides employer coverage. You can cancel at anytime for both the public and private health insurance plans
What if I need nationwide coverage?
Nationwide coverage, on and off the job is important. Many private plans use nationwide PPO networks, so you aren’t limited to coverage in your zipcode/county like many plans. You are covered anywhere you go!
What are health insurance prices based on?
Public Marketplace/ACA/Obamacare plans are based on income, zip code, and age. If you don’t qualify for government subsidies, they can be very expensive.
Private plans are based on health, age, and zip code.
If health insurance is ever suspiciously cheap, it is usually not a fully comprehensive plan. These are usually short-term or cost-sharing plans with VERY limited coverage. These types of plans also have no coverage for pre-existing conditions.
Do you only work with health insurance? What about dental, vision, etc?
No! I can also write policies for Dental, Vision, Life, Supplemental, Critical Illness, Accident Disability, etc. I have many trusted referral partners so I am happy to guide you to one of them If you need something I can’t help with.
Read What Clients Have to Say