Do you have a small business? Even a side business? If so, you may qualify for a group health plan.
Why Small Group Coverage is Better Than Individual
Here are the advantages of purchasing a small group health plan:
- The premiums are currently lower than in the individual market. That doesn’t mean they’re low, but they are LOWER for comparable levels of coverage.
- You have the option of a PPO plan. That’s something that’s difficult to find in the individual market in the state of Texas.
- You can enroll anytime – small group isn’t limited to a six-week open enrollment period at the end of the year like individual health plans are. Your plan can start on the 1st or 15th of any month.
Qualification for Small Group Coverage is Easier Than You May Think
If you do own a small business, you may be thinking that you don’t qualify because you’re a sole proprietor or because there would only be one person enrolled. Not so fast! The rules have changed, so it’s now easier to sign up for small group coverage than it ever has been before, at least with some insurance companies.
There’s no longer a requirement that two people enroll, for example. If you have two employees (or two owners), you might still be able to purchase small group coverage even if only one person needs it. And if you’re a sole proprietor with one full-time W-2 employee (even if that employee is your spouse), you can also qualify for group health coverage.
Paperwork Requirements
Each insurance company has slightly different documentation requirements, and the required paperwork varies depending on the business format. Download our white paper for more information.
