Options for the Smallest Employers

Kim Kinnaird | Director, Employee Benefits

Life as an Ohio Health Insurance Agent continues to be interesting, to say the least. What was good advice even a year ago can be completely irrelevant now. Good times.

Employers, in particular, have to be feeling a little whiplash by now especially sole proprietors and the very smallest, fledgling businesses staffed by spouses or close family members.

Many of these businesses purchased individual policies when carriers moved away from one-person “groups.” They no longer allowed two spouses who worked for a business to count as two employees or instances where a parent and child under age 26 worked for the business.

In years past, because of subsidies and carrier reimbursements from the federal government, individual coverage was expected to be more affordable than group coverage in the ACA products. Health underwriters rightly surmised that only people who could not renew with a grandfathered or transitional (aka Grandmothered) plan because of added risk would be looking for group health coverage under ACA and ACA rates rose. That is not necessarily the case moving forward.

In 2018 there will be many counties in Ohio where there are limited carrier choices and still others with no options for individual coverage. So now, brokers need to revisit group coverage options for these very small groups and the participation requirements.

Cornerstone agents will have access to a grid of key questions on the Broker Centric website that answers these critical questions across multiple carriers and their product lines. Contact your Cornerstone representative for questions.

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