On the Today Show this morning, during the Money 911 segment, mention was made about small Mom and Pop businesses qualifying for group medical insurance. Could I please get more information?
Happy to. I called up the folks at ehealthinsurance.com to find out some more information, and they tell me that if you’re a small business owner and have at least two employees on payroll — including yourself — you may qualify for a small business group health insurance plan. This is true in all fifty states, as well as DC.
The benefit, of course, is that this policy may be cheaper, but there are other perks as well:
What else is required on your part? That depends on where you live, since health insurance is regulated on the state level. Some states may require you to be an LLC or incorporated; others won’t. It may be helpful to work with a licensed health insurance agent. You might also want to consult this self-employed and small business buyer’s guide, which has a great deal of information.