I'm facing a crisis. One that I know probably faces or will face most people who have a home business or are otherwise self-employed. And it's an issue that promises to be a major focus during any political campaign. Health insurance affordability and availability.
Let's face it: Americans are getting pretty fed up with health insurance in this country. Especially for those of us who are in less than perfect health and especially as we age.
Health Insurance Availability
I'm learning the hard way that health insurance availability is growing more scarce by the moment. Except in those states that have recently eliminated the insurer's ability to medically underwrite (deny coverage or charge more to those with existing medical conditions) health insurance policies, fewer and fewer insurers are willing to take the risk of providing you with coverage. But those with medical conditions are the people who need to the coverage most. And, as America's population ages, the problem is only going to get worse.
Home business owners and the self-employed are especially vulnerable to limited health insurance availability. However, even a growing number of employers are dropping health insurance benefits for their employees. That leaves us with few options for securing health insurance, all of which can be very difficult to afford.
Health Insurance Affordability
Even when a home business owner or self-employed individual is able to pass or avoid an insurer's underwriting requirements, no assistance is provided in paying the premiums, which may not increase just annually (mine are adjusted quarterly right now).
While if we meet the IRS requirements we may be able to deduct the cost of our health insurance from our federal tax returns, that doesn't make it more affordable - you still have to pay the premiums. This is an issue that I think most politicians just don't get - in order to take the deduction or credit on your taxes, you still have to pay the premiums, and for many of us that is getting to the point where it may be out of the question.
My Health Insurance Situation
A few years ago I was able to secure health insurance coverage through a professional organization I belong to. No medical underwriting was involved; I just had to be a dues-paying member for two full years before I could qualify. At the time, this was a good option for me as the cost was a bit lower than my existing individual health policy and the coverage was about the same. However, since I enrolled, the insurer claimed it was losing money on the plan, so premiums jumped and new applicants have to pass medical underwriting standards. As a result, many of the organization's members who could get and afford health insurance elsewhere opted out of the plan.
Because the size of the insured group started shrinking and because those that remained in the plan were those who had no other choice - the insurer has increased its premiums even further, whittled away at the coverage, and is now re-rating policies quarterly based on its claims experience and financial performance for the previous quarter.
All of this has left me on the brink. Do I drop health insurance all together? Way too risky, I think. So I have to look for alternatives, cut back on other expenses and even do without some things that would help my business grow. I'm even considering a move to a neighboring state that doesn't permit health insurance underwriting. Private coverage being offered in this state is much better than what I'm paying for and is available for less than half of my current premium. But I have to weigh the pros and cons carefully before I make any final decisions. After all, I like where I live and I hate the thought of moving.
What's Your Health Insurance Situation?
I know I'm not alone in my dilemma and I know this will be a very hot topic of debate for upcoming presidential elections, as well as a hot topic in those states that haven't already taken action to improve the affordability and/or availability of health insurance. I also know that small business operators and the self-employed are not the only groups that have to face this issue head on.
The time to act has arrived. You can start right here on About Home Business by participating in the poll or in a forum discussion. What's your health insurance situation?
Share Your Health Insurance Story
Don't have insurance? Have special issues or face special frustrations in trying to get it? Have you found a great source for affordable health care? Care to share your health insurance situation? (You can do so anonymously, of course.)
Share your health insurance story
Take the Health Insurance Poll
To gauge how my visitors are facing health insurance issues, I've set up a poll and I hope you'll participate in it.
Take the Poll: Do You Have Health Insurance?
Check the Health Insurance Poll Results
When you cast your vote, it's registered and you'll get to see the current results of the poll. If you've already voted or don't care to cast a vote but would like to see the current results, here's a link you can use:
Check the current health insurance poll results
Participate in the Health Insurance Discussion
For those of you who would like to go into a bit more detail or voice your ideas, suggestions or frustrations, I welcome you to participate in the discussion on this topic in the About Home Business Forum.
Let's face it: Americans are getting pretty fed up with health insurance in this country. Especially for those of us who are in less than perfect health and especially as we age.
Health Insurance Availability
I'm learning the hard way that health insurance availability is growing more scarce by the moment. Except in those states that have recently eliminated the insurer's ability to medically underwrite (deny coverage or charge more to those with existing medical conditions) health insurance policies, fewer and fewer insurers are willing to take the risk of providing you with coverage. But those with medical conditions are the people who need to the coverage most. And, as America's population ages, the problem is only going to get worse.
Home business owners and the self-employed are especially vulnerable to limited health insurance availability. However, even a growing number of employers are dropping health insurance benefits for their employees. That leaves us with few options for securing health insurance, all of which can be very difficult to afford.
Health Insurance Affordability
Even when a home business owner or self-employed individual is able to pass or avoid an insurer's underwriting requirements, no assistance is provided in paying the premiums, which may not increase just annually (mine are adjusted quarterly right now).
While if we meet the IRS requirements we may be able to deduct the cost of our health insurance from our federal tax returns, that doesn't make it more affordable - you still have to pay the premiums. This is an issue that I think most politicians just don't get - in order to take the deduction or credit on your taxes, you still have to pay the premiums, and for many of us that is getting to the point where it may be out of the question.
My Health Insurance Situation
A few years ago I was able to secure health insurance coverage through a professional organization I belong to. No medical underwriting was involved; I just had to be a dues-paying member for two full years before I could qualify. At the time, this was a good option for me as the cost was a bit lower than my existing individual health policy and the coverage was about the same. However, since I enrolled, the insurer claimed it was losing money on the plan, so premiums jumped and new applicants have to pass medical underwriting standards. As a result, many of the organization's members who could get and afford health insurance elsewhere opted out of the plan.
Because the size of the insured group started shrinking and because those that remained in the plan were those who had no other choice - the insurer has increased its premiums even further, whittled away at the coverage, and is now re-rating policies quarterly based on its claims experience and financial performance for the previous quarter.
All of this has left me on the brink. Do I drop health insurance all together? Way too risky, I think. So I have to look for alternatives, cut back on other expenses and even do without some things that would help my business grow. I'm even considering a move to a neighboring state that doesn't permit health insurance underwriting. Private coverage being offered in this state is much better than what I'm paying for and is available for less than half of my current premium. But I have to weigh the pros and cons carefully before I make any final decisions. After all, I like where I live and I hate the thought of moving.
What's Your Health Insurance Situation?
I know I'm not alone in my dilemma and I know this will be a very hot topic of debate for upcoming presidential elections, as well as a hot topic in those states that haven't already taken action to improve the affordability and/or availability of health insurance. I also know that small business operators and the self-employed are not the only groups that have to face this issue head on.
The time to act has arrived. You can start right here on About Home Business by participating in the poll or in a forum discussion. What's your health insurance situation?
Share Your Health Insurance Story
Don't have insurance? Have special issues or face special frustrations in trying to get it? Have you found a great source for affordable health care? Care to share your health insurance situation? (You can do so anonymously, of course.)
Share your health insurance story
Take the Health Insurance Poll
To gauge how my visitors are facing health insurance issues, I've set up a poll and I hope you'll participate in it.
Take the Poll: Do You Have Health Insurance?
Check the Health Insurance Poll Results
When you cast your vote, it's registered and you'll get to see the current results of the poll. If you've already voted or don't care to cast a vote but would like to see the current results, here's a link you can use:
Check the current health insurance poll results
Participate in the Health Insurance Discussion
For those of you who would like to go into a bit more detail or voice your ideas, suggestions or frustrations, I welcome you to participate in the discussion on this topic in the About Home Business Forum.