The Health
Care Coverage Challenge
By Kathy Werking
Recently, I ended my full-time job in order to devote more time to my craft business. I knew this meant losing health care benefits. However, I needed to follow my heart and grow my business. So, I was faced with the health care challenge. Naively, I didn’t think getting cost-effective coverage would be a problem. My daughter and I are very healthy and rarely used our employer-provided health insurance. But, as I soon discovered, individual health care plans are VERY COSTLY!
The reasons why coverage is so expensive in Kentucky are numerous and complex. Unlike other states, there are a limited number of health insurance providers in Kentucky. The major providers in the state are Anthem, Humana, and Mega Life and Health Insurance Company.
My first task was to educate myself about health insurance for the self-employed. I found I was not alone in my search for affordable healthcare. Of the estimated 41 million Americans without health insurance, 60 percent (24 million) are from families in which the head of household is self-employed or working for a small business. So, knowing this was an important issue for many, I searched the Internet for health insurance resources and located a few.
One helpful guide is found at www.healthinsuranceindepth.com.
This site explains the differences between individual health insurance,
insurance for the self-employed, and small business health insurance.
There are also several sites that will provide free quotes (but be prepared
for a follow-up sales call from a representative). One such site is www.insurancequotesmarket.com.
Kentucky has a special insurance program called KCHIP for Kentucky Children’s
Health Insurance Program (http://chs.state.ky.us/kchip/).
This program has income level limits, but is certainly worth checking
out.
After receiving quotes from Anthem and Humana that were too high for my budget, I found the website for the National Association for the Self Employed (www.nase.org or 1-800-232-6273). This non-profit organization acts as a network for small business owners. NASE lobbies for small business concerns in Washington. It provides benefits for small business members, such as discounts on rental cars and on-line college courses, low rate debit and credit card processing, small business consulting, and a legal team at no or reduced cost (This is just a sampling of member benefits).
What interested me the most was their health coverage program. Insurance is provided to members through The Mega Life and Health Insurance Company. I was able to join together with other small business owners and receive a health care plan that suits my budget. With this program, I was buying into a group health insurance plan that offers freedom of choice in doctors and hospitals and customized coverage to fit my needs and budget. In addition, my monthly premium includes my membership in NASE, accidental disability coverage, and a first occurrence benefit that will pay $10,000 if a critical illness strikes me or a member of my family.
It is a relief to have this issue solved. I am still on the lookout for affordable health insurance, so if you are aware of any, please share it with other KAHT businesses. This experience has shown me the power of a small business network!