Self Employed Health Insurance (Insurance for Consultants, Realtor Health Insurance Plans, etc.)

If you are a self employed business owner, you know how important a good health plan is to protecting not only your family's health, but your business as well. In some industries there are associations available to those in their particular trade or profession that can offer benefits to their members. This can especially be helpful if the benefits offered include true group major medical, which are guaranteed issue and offer reasonable rates.

The problem here is that usually at least one of the criteria just mentioned is often lacking - usually what is offered is merely a supplemental or limited benefit plan. But even if what is offered IS in fact a major medical plan, often it is NOT guaranteed issue, or even if it is, the rates are simply just too high.

We had a client who was a Realtor and was looking specifically for Realtor health insurance, if such an arrangement was actually available. Unfortunately, in his community the association of Realtors did not offer a health plan, and neither did his real estate broker/manager (Since Realtors are usually classified as independent contractors, and rarely are considered employees, most realty groups do not offer a true group plan for their members). So, the only Realtor health insurance he and his wife were going to qualify for was some type of individual plan. This couple had moderate, but not severe health issues, but still just enough of a concern so as to present a potential problem in qualifying for major medical coverage.

Brandon was able to come up with a 'Realtor health insurance solution' for this couple. Thankfully, since he was only one year away from going on Medicare, we were able to solve his problem by getting him approved for a one year short-term medical plan which again would serve as a 'bride to Medicare' (offering coverage up to $2 million). This was much easier to issue than a fully underwritten major medical plan. Typically these Short-Term plans do NOT cover preexisting conditions, but in his case, the preexisting condition he had did not present a major threat of developing into a big potential claim in the future - and this was because of the nature of the illness (moderate depression). If it had, in fact, been a big concern, we likely would have added supplemental coverage to take care of that; however, in this case, it was not absolutely needed, again because of the type of illness he had. And, he would be replacing this plan with Medicare and a Medicare Supplement in a years time anyway.

For his wife, who was a Realtor, this was going to be more of a challenge since her health concerns were perhaps a bit more severe and she had several years to go before qualifying for Medicare. After doing some research on her behalf, we were able to find a major medical carrier that would accept her on a long term basis. Her preexisting conditions would be covered, but the premium she was going to be charged was going to be 25% higher than the rate for a healthier applicant. She was fine with this since she was very glad to be able to qualify for good medical coverage and the higher premium was not too substantial.

Whether you are a Realtor looking for Realtor health insurance, or are a self employed professional or business owner seeking quality coverage, give us a call or Click Here. We can help with most any self employed health insurance or small group situation.

 



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