When Can Your Employees Make Mid-Year Changes to their Group Health Policy?

When getting a Group health insurance policy companies understand that people are going to sign up for what they need now, and employees’ needs can often change. Maybe there is a new baby on the way so they want to increase their coverage, maybe they just realize that they are covering a lot of stuff that they don’t need. This leaves many companies and employees wondering when and how they can make additional changes to their policy.

The Standards

The standard is that each year there is one open enrollment period, and this is when people in a group insurance policy can make adjustments to their plan.. However, there are special cases that qualify your staff for a Special Enrollment Period or SEP.

automotive worker fixing a car as employee — *Any industry employee can opt into a SEP. It just depends on why.*

Group Health SEPs are available if your employee has a qualifying event. Here are the most common qualifying events:

Death
Marriage
Divorce
A new addition (child) to the family

The qualifying period starts when the event happens and only extends 60 days. Otherwise, it will not be considered eligible for a SEP. This means if someone gets married June 1st, they have 60 days from that date to change their coverage, after that they will have to wait until that year’s open enrollment period.

Other Qualifying Events

Another qualifying event is loss of health insurance. This could happen when someone is covered under their parent’s plan and ages out if they are covered under their spouses’ plan and they lose that plan, or several other reasons. If this happens your employee has 60 days from the date that their current insurance plan ends to get new coverage or change their coverage through you.

Employee writing on a white board with a blue pen — *Qualifying events are special circumstances that allow entrance to a SEP. These can be as simple as moving.*

A change in residence also gives entitles an employee to a SEP. These mid-year changes are:

Moving to a shelter
Transitioning as a seasonal worker
Going to a new location for school
Entering the US
Moving to a new home

In this instance, the employee must have health insurance before then to qualify. Also, a small move like an extended vacation or sabbatical does not allow for a SEP.

Additional circumstances that might qualify for a SEP:

Starting service in an organization like Service Year or Americorps
Leaving incarceration
Becoming a member of a First Nationer tribe
Becoming a US citizen

The last thing to keep in mind is if any of these qualifying factors do arise, employees will need to have the correct information to verify an SEP. They all require documentation, but those papers are easily found. For example, a birth certificate for a child is mandatory, this is a valid proof of documentation for the verification process.

business owner speaking with her employees about special enrollment periods — *Talk to your employees about these periods. It can be a confusing time, and they will appreciate both your knowledge and guidance.*

If you find yourself looking for a new, or first group health insurance plan, EZ.Insure offers solutions. Your agent will answer any questions you have, compare the plans available to you, and even sign you up when you are ready, free of charge. To get started simply enter your zip code in the bar above, or you can speak to an agent by emailing replies@ez.insure, or calling 888-998-2027. EZ.Insure makes the entire process simple, easy, and quick.

Is There Open Enrollment for Group Health Insurance?

Open enrollment is defined as a period of time when an employee join your group health plan or make changes to their existing policy. If you have a Group Health policy, which you should if your business employs over 50 workers, then any changes outside of a SEP will need to be made during this open enrollment period. Your employees need to be notified so that they do not miss this opportunity.

squares and finger pointing at them — *Open enrollment is the standard period for insurance changes. Do you know the exact dates?*

The unfortunate downside is that if the deadline is missed, then they must wait until next year. However, certain qualifying life events exempt an individual from this rule. You can learn more about that here. <link to SEP article>

For Employees

Open enrollment for the 2019 period will start Friday, November 1, and it will run until Sunday, December 15, 2019.

With your employment-based policy, your staff should receive reminders in the mail, but make sure to either talk to them one-on-one or send them an email yourself.

Health coverage is important, and taking the time to reach out will send a positive message to your employees. They will appreciate your knowledge, guidance, and interest in their well-being.

For Business Owners

You do not have an “open enrollment” period to make changes to your company’s group health policy. You can make changes whenever you’d like.

business owners in their company — *Knowledge is power! Keep in mind important dates when it comes to making policy changes.*

If you want to change your business’ policy, you can (usually) cancel your coverage at any time, but the insurance company prefers to be notified at least 30 days in advance. It would be courteous to let your employees know as well.

For these changes, it’s good to review the pros and cons of joining an HRA or switching to a different policy. Both are valid options, but the choice ultimately falls on what would be best for your company’s future.

Don’t worry about big insurance decisions; EZ.Insure offers solutions. Your agent will answer any questions you have, compare the plans available to you, and even sign you up when you are ready, free of charge. To get started simply enter your zip code in the bar above, or you can speak to an agent by emailing replies@ez.insure, or calling 888-998-2027. EZ.Insure makes the entire process simple, easy, and quick.

Freelancers – You Need Coverage! Here’s Why.

You might think that working from home means you do not need freelance commercial insurance, but that couldn’t be further from the truth. Even though you work for yourself and might not be in a ‘traditional’ job environment you still need to be covered!

work computer with plants and pictures on desk — *Keeping a good workspace is more than just cleaning. It’s also insuring your materials.*

Are you working with web design or freelance writing? Are you part of Amazon’s crowd work team or a virtual assistant? The choice to do freelance work is usually made with the many benefits in mind like setting your own hours, choosing daily workloads, or even working from a laptop in your pajamas.

While these are sought after, many new freelancers overlook an important benefit: choosing your own insurance coverage. Without a company over your head, you are not restrained to their options for group health or otherwise. The same goes for commercial insurance since you can be considered a business of one. But like any businesses you will have to put in the work to get the proper coverage. This can be daunting but if you have a professional agent on your side it will be much easier. If you want free advice, quotes, and help to sign up EZ.Insure can help you by calling 888-615-4893.

Why Get Freelance Commercial Insurance?

Like any type of business, even a freelancer is subject to bad luck. Working for a company with group health insurance can give you security, so if you land in the hospital, you have some cushion with your medical bills. When you work for yourself, none of that is the case. So, what will you do if misfortune comes your way?

brunette freelancer with coffee mug at computer — *No matter where you are, you can work a bit better knowing you’re covered.*

You can try to justify not getting covered with thoughts like, “But I rarely leave the house?” or “I can take care of myself. This lifestyle proves it.” Do not be misled by these. If you work for yourself, then that means you have to take more care of yourself. As a business of one, your entire career rides on your health and ability to recover in bad times. This is why it is important that you get your own health insurance.

Other than health insurance, you also need a business owner’s policy just like the storefronts, corporate buildings, and bakeries. Just because you work from your laptop doesn’t exclude you from insurance benefitting a business. In fact, this puts you at higher risk for cybertheft, considering your source of income and tools involve the internet.

In essence, freelancers like you deserve proper insurance just as much as an employee at a traditional job. While you don’t work in an office or take lunch breaks, you are subject to the same dangers that befall other workers. You may be in even more danger without the support of a large business behind you.

Which Insurance Types Cover You?

Similar to other businesses, the standard plans will protect you in the same ways. However, unlike most businesses, you will need to file under a small business or sole proprietor. The differences are minor but necessary for the terms of your coverage. Here is the standard set of freelance commercial insurance, and why you need them:

man at a bar working freelance — *Take a moment to think. If you work from home, why not get insurance from home too with EZ.Insure. It’s quick and easy.*

Business Owner’s Policy – As a sole proprietor, business mistakes can be all on you. That makes it worse. Take out a policy to protect yourself in the future. Potential clients will also think better of you when you land on your feet after unfortunate circumstances.
Group Health Insurance – You can apply for Group Health as a sole proprietor, but you must be a legitimate business. Interested in health coverage? If you are interested, you will find a solid start both here and here.
Disability – Whats happens if you break an arm and can’t work? This is a scary time for you, especially when not covered. There are both long-term and short-term options for you.

With any of these plans, also consider adding a Health Savings Account (HSA). These accounts save money and help come tax season. All of these together take the sting out of any bad luck that rolls your way. As a freelancer, you probably already know that your luck can vary from week to week.

Planning for and getting coverage can get frustrating. One other factor freelancers should consider is time. Your time is precious, so why waste it attempting this on your own?

If you are looking for peace of mind, EZ.Insure offers solutions. Your agent will answer any questions you have, compare the plans available to you, and even sign you up when you are ready, free of charge. To get started simply enter your zip code in the bar above, or you can speak to an agent by emailing replies@ez.insure, or calling 888-998-2027. EZ.Insure makes the entire process simple, easy, and quick.

Group Health Insurance: The Plans, the Importance, and the Agent

What Types of Insurance are Available and Why They Are Important

You’re ready to take the next step into improving your business through group health insurance plans. You’ve got your employee’s benefits in mind, but also your company’s bottom line. Both are important. So, here are the different types of insurance plans available to your company, and how exactly they’ll help you out.

Fully-Insured Employer/ Large Employer Group

Why You Should Choose This: You’re wanting a solid plan that provides the most coverage. This is if you’re wanting major medical or health maintenance organization (HMO) coverage.
Business planning is all about finding what works for you, insurance or otherwise.

What It Offers: A traditional policy that is common, so more support or offers from agencies. You also party directly to the agency.

Requirements: Just the basic group insurance requirements: be a business of two or more people and enroll during the specified period.

Small Employer Group

Why You Should Choose This: You’re a smaller company or a group in a larger company seeking a cheaper option. Insurance agencies can more accurately predict risks in a smaller group.

What It Offers: Cheaper options with higher coverage and the same policy for each employer.

Requirements: Basic group insurance needs met.

Health Maintenance Organization (HMO)

Why You Should Choose This: You want to pay for specific health services via monthly premiums.

What It Offers: More control when it comes to enrolling for general services.

Requirements: A good knowledge of doctors and care facilities as you will have to stay within a network.

signing life insurance form — *Life, health, and any policy will require some old-fashioned form signing.*

Self-Funded

Why You Should Choose This: You wish your company to be in complete control of the payment for coverage.

What It Offers: More control as your company is the one taking the costs.

Requirements: Basic group requirements

Association Group

Why You Should Choose This: You are not an employer, but you still wish to offer group health insurance to a set of people.
What It Offers: The ability to get group health insurance for a non-business type.

Requirements: Basic group insurance needs met.

Level Funded Plans

Why You Should Choose This: You wish to pay a monthly premium instead of an annual one.

What It Offers: A graduated payment plan instead of a lump sum at one time.

Requirements: Census information will be taken of the group you wish to be insured in order to determine your monthly rate for coverage.

Preferred Provider Organization

Why You Should Choose This: You’re wanting something similar to the HMO plan earlier but with more flexibility.

What It Offers: More choices when it comes to doctors and facilities with the risk of being more expensive due to administrative costs and negotiated services.

Requirements: Basic requirements met.

High-Deductible Health Plan with Savings Option (HDHP/SO)

Why You Should Choose This: You don’t think your employees will use medical services, so you trade higher deductibles for lower monthly costs.

What It Offers: Cheaper options at the expense of your employees. However, this may be paired with a health savings account to counteract the higher out of pocket costs.

Requirements: Basic group insurance needs met.

hands pressed together after business meeting — *Let an insurance specialist help you succeed.*

Your Agent

With all of these to take into account, it can get overwhelming quickly. An insurance agent is specially prepared to navigate these waters and make sure you’re getting the exact plan to fit your needs.

Sometimes, not all employees will want or need this coverage. After you take stock of your company’s team and needs, look to a specialist for a guiding hand.

EZ.Insure offers you another helping hand. Your agent will answer any questions you have, compare the plans for you, and even sign you up, free of charge. To get started simply enter your zip code in the bar above, or you can speak to an agent by emailing replies@ez.insure, or calling 888-998-2027. EZ.Insure makes the entire process easy, simple, and quick.

Group Insurance: Plan for Your Company’s Health

When and Why to Get a Group Insurance Plan

So, you’ve got a company, and you’re thriving. As a small employer that’s excellent news! But one thing that’s important for your employees (and thus, important to you) is insurance. Next to an employee’s income, health insurance is the second most important employee benefit. This includes health plans, medical insurance, etc, for both full and part-time workers.

business notebook with planning underlined — *The planning stage comes first before you look into getting insurance.*

One of the biggest factors in the job market out there is insurance, which is paramount to keeping your employees happy. Overall high morale reduces employee turnover, and a stable workforce is one of the greatest predictors of continued success. Guaranteed issue insurance can land your company in a “Best Places to Work” chart. Secure employees equal low turnover.

If you haven’t already, you need to look into a group insurance plan.

But what is it exactly?

What is Group Insurance?

This is a coverage type for a defined group of individuals. Usually, companies will offer health insurance as the primary offering and can supplement to include dental, vision, life or disability insurance.

Group insurance is a leg-up for both the companies and the beneficiaries. Because the companies get a large number of people to cover all at once, they can reduce their rates for said individuals, and the process will go smoothly as they want your business. Wholesale isn’t just for paper towels and bread.

So, in essence, it’s a bigger version of individual health insurance (a single policy) where the company is the individual, and all the employees are separate parts.

When to Acquire?

Technically, if you’re self-employed, you could apply for small group health insurance in some states. For the majority of business owners, you’ll probably be thinking bigger. You can look into this whenever you decide the time is right for your company. Many small businesses realize the benefits of having a group insurance plan, both for the business and for the employees, and opt to look into it sooner than later. .

doctor working with a business person — *The peace of mind that comes from group health insurance is an attractive benefit.*

Remember, the choice is yours to make this step for your business. One differentiation to note is employee number as it puts you in a separate category under the Affordable Care Act. However, this shouldn’t guide your decision.

There really aren’t “milestones” separating you from the uninsured line. When you’re ready to make the investment and are looking for the first time, there is no enrollment period you have to wait for. However, make sure that you start shopping at least 90 days prior to the date you want your insurance plan to be active.

If you feel like you’re wanting to purchase group insurance with a smaller business, one marker would be income. The average annual cost for an employee premium is around $5,000.

So, if you can budget $5,000 per employee per year into your books, it may be well worth looking into.

Why Acquire?

There are many benefits to getting a group health insurance plan:

Your employees will likely be healthier given that they have access to healthcare.

These types of expenses for your business are tax deductible which means putting more money in your pocket.

The aforementioned lower turnover. Happy employees=a stable workplace

As you can see, the benefits will outweigh the costs. You’re going to want to keep your employees happy, and you’ll find support from the government and insurance agencies to smooth the process.

business man giving the thumbs up — *You can do this! You have all the help and support you need.*

Acquiring new insurance and seeking a personalized plan can be difficult and time-consuming. An agent will do the smooth the process, allowing you more time to focus on your business.

EZ.Insure offers you this solution. Your agent will answer any questions you have, compare the plans for you, and even sign you up, free of charge. To get started simply enter your zip code in the bar above, or you can speak to an agent by emailing replies@ez.insure or calling 888-998-2027. EZ.Insure makes the entire process easy, and quick.

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