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August is Open Enrollment Month for Self Employed & 1 Employee Businesses August 13, 2009

Posted by solutionsinsuranceservices in Group Insurance, Health Insurance, Individual Insurance.

In July of 2000 legislation went into effect that changed small group health insurance in Florida.  This legislation allows insurance carriers to rate a business based on the health conditions of the companies employees instead of using a community rating system.  Self employed persons and businesses of one employee have one open enrollment period a year.  That period began on August 1 for coverage that becomes effective on October 1.

This is the only time of the year that self employed and 1 employee businesses can get guarantee issue group health coverage. 

Florida does allow the insurance carriers to set underwriting standards for these businesses. Many companies have begun requiring the premium be paid by a check from a business account.

All insurance companies require tax forms to qualify as a business. Two proofs are required one being taxes.  The following is required:

  • A copy of your schedule C or 941 quarterly tax form from Florida
  • An occupational license if required to have one
  • A copy of your schedule C or 941 quarterly tax form from Florida
  • Corporation Paperwork

Although these plans are available during the month of August. They may not be your best option. There are many Individual Health Plans on the market today. Individual health insurance plans are medically underwritten and do not fall under the business guidelines. Individual plan rates are often less than business plans. People often think they are uninsurable because of an existing health condition but this is not always the case.  Individual underwriting guidelines are designed to make sure you are a good risk. They do not require that you be in perfect health.  Guarantee issue individual plans are also available.

One thing is for sure, health insurance coverage is a necessity. More bankruptcies occur due to the cost of medical care than for any other reason.

SOLUTIONS will be glad to help you with your insurance needs whether it be group, individual or family.



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