Protect Your Business

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Individuals out and about in the working world have been very absorbed in the daily chore of splitting time between employment and home life with little concern for health care. This is probably because while in the employ of a large corporation a minimal amount of income was to collect from the paycheck. It is not that difficult for any individual to overlook this one small detail. Easy to overlook until the individual is considering purchasing low cost health insurance for a new business just getting started.

At some point this eats away into the individual’s eternal core until something finally snaps. Perhaps starting a new method is in order to integrate eternal peace within. Now is the time for taking that first step and trying your own hand.  Life as an entrepreneur competing joining others in a very busy world. In the beginning the individual might seek out a part time position, but ultimately spending more and more time in your own adventure.

Opening your own business is one of the most difficult things to attempt, but in the long run it is well worth the added effort. The stumbling block is in the addition of health insurance coverage. For the past few months individuals engaged in researching some factors of opening a small business and though all the potential problems reached a compromising conclusion the area of insurance still remains monumental.

The majority of the population remain in a full time employment because they know that the employer paid benefits.  However, these are the same individuals, now that their children are grown, who are trying their hand at becoming an entrepreneur and even affordable health insurance is causing sticker shock.

The choices left for any new entrepreneur come down to three main points of interest involving individual health insurance coverage. The first choice is to look to your spouse. If your spouse is currently in employ full time there is a very good chance your spouse has full medical benefits and can add you to the employment policy. The second choice is group health coverage. There are many advantages for the solo entrepreneur and the cost is low to help gather more entrepreneurs into the group. This second choice is unavailable in every state so it will mean a little research on the part of the individual.

The third choice available to new entrepreneurs is an individual health plan. These are subject to medical underwriting and the individual will have homework to research with the state offered health plans. It will be difficult to individuals who have pre-conditions because most health care providers pre-conditions are unacceptable.

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Reason for Insurance

Self-employed and family medical insurance is a preferred type of insurance coverage made available to all entrepreneurs and their families. This is for the medical insurance corporations to direct sell to the individual forming a bound contract between the person and the insurance provider. This is the high priced and specialized insurance policy available to the unemployed or self-employed; an individual health insurance policy is always an option, but not an inexpensive one.

The medical health benefits will further be classified into fee-for-service or as what they call, indemnity or traditional insurance and to manage care policies. The group insurance plan and the individual insurance plan can both be classified either a fee-for-service or a managed care plan. There are 3 choices of managed care insurance plans.

1.               The Health Maintenance Organizations or HMO

2.               The Preferred Provider Organizations or PPO

3.               The Point-of-Service or POS

The managed care insurance plans typically use medical health provider networks. These networks agree to perform services for managed care plan patients at pre-negotiated rates and will usually submit the claim or claims to the insurance company. Generally, the self-employed individual have a lower out-of-pocket expenses with the managed care health insurance plan and a broader choice of medical care providers with an indemnity plan.

Each of the three provider insurance plans offer substantial health care coverage benefits to the individual members as stated through some articles published here. If the individual is fortunate enough to have a choice of plan, think of the advantages, and disadvantages.

Compare the cost of care, the difference in premiums, deductible amounts and the freedom to choose a medical doctor outside the insurance provider plan. It is important to cosider the variety of other coverage from the prescription drug programs to dental to alternative therapies.

Indemnity or fee-for-service medical insurance plans usually cover the same expenses as managed care does operating with low cost health insurance. The only difference is that the medical doctors will ask payment everytime they visit , with the claimed filed either the individual patient or medical insurance provider. The fee-for-service allows the individual to personally choose which medical doctors and hospitals they utilized, and this is under the managed care insurance plans.

However, the individual prepares to pay an annual deductible before the medical insurance provider begins to pay on the turned in claims. There are also times when an Indemnity plan will require the individual to pay up front for services rendered before submitting the insurance claims.

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Conforming the Industry

Every year in all households coming under a new and formidable medical insurance plan there are those with their doubts and queries. This new medical health plan is coming under fire from those who believe it will bankrupt the state of New York if it ever becomes law. This new health insurance plan is under critisism from those who believe that it will devastate the poor and the working poor while undermining the reasonable successful public health insurance system that is already in place throughout the state of New York. A few explanations are:

1. Less than $5000.00 in outpatient expense
2. Less than $30,000.00 for treatment with hospital care
3. Less than $15,000.00 for hospital benefits for maternity delivery

The difficulty with this is the premium for a family will be $399.00, but yet each family has to pay only .00. What? left of the balance due will come from the central government, the state government, and the local municipality’s seat of government. This affordable health insurance plan, though an interesting concept, is unattainable in reality. The first step of this type of health provision will certainly devastate the insurance industry as well as pointed out at www.bio-medicine.org.

Only time will tell if it claimed to occur actually does and the insurance indurstry does have a lot at stake. Many of the current insurance companies are considering the task of relocating to neighboring states if this formidable health care provision does come to pass. This is influence the outcome for the self-employed individuals and others.

The fate of all of the residents of New York is hanging in the balance. There are those who believe that this implementation of the new health insurance will disregard the existing principles of the entire insurance provider industry. This is due to the unrealistic views of what will work and what will leave gaping holes to interpret by the issuer and the holder of the policy.

The general insurance provider is to share the risk, but the high risk to the insurance industry collectively is much too great to absorb readily. Speculators involved in the divisional proportion of this new insurance provision are admitting to the public residence that the first year of implementation will cause much distress to the individual insurance holders. Over time, there will be improvements both in the allocation of the new health insurance quotes and the workmanship from within the insurance industry as a whole. However, they claim that all future insurance quotes will conform to drastic reductions from where they are at the current time.

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Health Insurance Reforms

Through all the new changes of the state and federal laws, it makes it much easier now for self-employed individuals with pre-existing conditions to attain or continues to possess their current medical healthcare coverage. This will now fall under a new law HIPAA or Health Insurance Portability and Accountability Act. This type of act has now set the new benchmark for all insurance corporations in every state to follow and utilize as a guideline.

Many states can now pass different reforms for the innovative and comprehensive health plans they carry within their state as well as the state of New York. HIPAA or Health Insurance Portability and Accountability Act have set the state and national standards for all the health provider plans. Several states can pass different reforms for the insurance packages they regulate. Through the site at www.healthinsurance.info.net they explain fully how the entire new rules aid in the types of enhanced health coverage the citizens will receive.

This new additive will be best serving the fully insured group health plans and the affordable health insurance policies to serve the greater good of any population. Some of the items to cover under the HIPAA extension are:

1. Continuous coverage under a group plan will now continue regardless of a pre-existing condition and the individual rates will remain the same as the individual remains with the same policy.
2. All health plans in New York are exclusionary to all and any pre-existing condition, meaning it can no longer discriminate.
3. The individual health insurance or group health plan can no longer discriminate when a self-employed individual receives a diagnosis with a serious, life threatening disease.

The state of New York is currently working diligently on comprehensive reforms to expand and grow the individual access to the health plan insurance reforms. They are also working to guarantee the fair pricing of all insurance premium policies. Most of the insurance policy premiums are a renewable commodity once a year. Due to the type of insurance the individual decided to enroll, the exact definition may vary. From the present up to the future, all healthcare plans and annual premiums for individual policies and group health insurance policies are to sell under guarantee issue.

The new rules that now apply under the new low cost healthcare policies will in turn apply to all self-employed individuals with pre-existing conditions too. This will help tremendously when the individual is between employment and or waiting for a new health plan upgrade from the previous plan.

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