AGF financial's blog
January 7, 2020 by AGF financial
For such an unpredictable and diluted life, insurance is a necessity. Though several types of insurances cover individuals to provide them valuable life coverage but health insurance is the real backup. Whichever category you belong to individual, family, small business and large group, you can get into a flexible insurance plan to get yourself covered. Also, even if you are covered under some insurance plan through your employer, having individual medical insurance would be safer. For those running small businesses can cover themselves through small business medical insurance for dependable benefits.
Benefits of small business medical coverage will be granted to those who are having fewer than 50 Full-Time Employees (FTEs). Moreover, businesses running with employees fewer than 100 FTEs are considered to be small in California, Colorado, Vermont, and New York, etc.
Whether you are a Freelancer, Contractor, or Sole Proprietor, having no other employees, you can get the benefit of Individual Medical plans, Professional Employer Organizations (PEO), Fully-Insured Plans, and Self-Funded Plans. Individual major medical plans are available to self-employed individuals and also benefit their family members. They are also eligible for temporary medical insurance, which can serve for a period of 30 to 364 days, as per the state policy. These medical benefits cover medical expenses incurred due to unanticipated injuries or accidents.
Health Maintenance Organization (HMO)
Health Reimbursement Account (HRA)
Proprietary Medical Captives
Preferred Provider Organization (PPO)
High Deductible Health Plan (HDHP)
Partially Self-Funded Options
Point of Service (POS)
Health Savings Account (HSA)
Optional Financing Models
For those running a small business with employees not more than 50, they can enroll for a health insurance plan to benefit all. However, they should follow certain requirements.
Their coverage will cover all full-time employees and majorly at least 70 % of them should be enrolled for the benefits.
You must have a workplace or office or site to choose your marketplace.
Even if you are a group of two, you can get the benefits of group health insurance plan
Self-employed health insurance benefits cover Hospital indemnity insurance, Self-employed dental insurance, Supplemental insurance, Telemedicine, Rx Discount Card, etc. Now, choosing one from these is quite troubling and hence one should hire a reputed broker or insurance service provider who knows it all inside out and can help yours with the dependable decision.
December 10, 2019 by AGF financial
Health is our primary asset, however, life being one of the most unpredictable parts is always at risk. When you work in companies, you are more likely to get the benefits of corporate health plans offered by the company whilst for a steady freelance gig or a self-employed business owner, these offers are no longer in action, and they are suggested to troupe up the benefits on their own. Self-employed health insurance is channeled for this only. Whether you are a short term self-employed or a permanent one, you can get the benefits of self employed health insurance, which covers all that you want as a self-employed person.
The term “Self-employed” is synonymous with the part-time worker, self-employed, entrepreneurs, or freelancer. In case, you are neither an employer nor an employee; but are associated with some kind of work which lets you bring home some taxable income, then you should look for self-employed health insurance. This insurance doesn’t give a wider coverage but covers an individual and his family or possible dependents. Whether you have secured yourself in a job or are turned into a recently unemployed, getting secured with self-employed health insurance would help you avoid paying hefty penalties for remaining uncovered. These personals include Consultant, Independent contractor and even Freelancer.
If you have employees who let you qualify for the small business group you can head for small business health insurance; if not, going for self-employed health insurance would be better.
Other than choosing the right plan, considering and comparing the values is of great worth to not to get confused and to get the appropriate benefits of possible plans. Figure out your needs, take suggestions from agents, and then reach on a conclusion to ensure the best results for your needs.