Life as a contract worker has its attractions, like independence and more control over work/life, but it also carries risks. Individuals and independent contractors have no Benefits Department. They are left to sort through dozens of websites and lists of plans, all while trying to get to the key information: is my doctor on this plan? What’s the cost? What, exactly, is covered? What’s the tradeoff if I choose a high deductible? Not to mention, high premium costs.
It’s true most people do obtain health insurance coverage through their employer, but you may still be able to benefit from group health insurance even though you are not currently employed, are a contract worker, small business owner, or your employer does not provide healthcare coverage. In general, an association or organization is a group created to support the interests of people in a specific industry or trade.
Depending on the state in which you live, there are ways to get group health insurance through associations and organizations. Unlike individual health insurance plans that include an underwriting process that requires a health exam and have a high turn-down rate, with group health insurance, the chances of getting coverage declined are minimal and the coverage includes most major benefits. Group coverage also tends to have much smaller deductibles than individual healthcare resulting in a reduction of out-of-pocket spend.
This is because, even if you are an “individual”, you can take advantage of the benefits offered by a group. It is offered conveniently when enrolling in healthcare coverage via Candor USA marketplace. Another major reason to purchase healthcare coverage through Candor is the additional option of purchasing Prosper Benefits that include products like TeleHealth™, and Medical Bill Saver™.
The simplicity of enrolling in healthcare coverage through the Candor marketplace enables enrollment in a fraction of the normal time, clearly shows major Carrier pricing, and enables you to join the group simultaneously, all while receiving quality coverage at a reduced cost and the bundling of Prosper Benefits.
Healthcare coverage is a big expense for many self-employed workers and individuals. Enrolling through a “membership or group” often reduces the premiums by 30% to 50%. An independent contractor, freelancer etc can also deduct the cost of health insurance premiums.
“If [consumers] can join large groups, get protection and less expensive insurance … it will solve a lot of problems in the individual market,” Senator Paul said on the NBC show “Morning Joe.”
According to HealthAffairs.org, Association healthcare coverage has been especially popular with small businesses and individual consumers because of a presumption that large groups have more market clout and negotiating power than small groups or individuals, a promise of better rates and benefits, and, in some cases, a promise of more consumer protections than are available in the individual market. According to researchers, one of every four employers (and one of every three businesses with fewer than ten employees) provides benefits through group-type arrangements. Some data are available from state insurance regulators in support of this finding. For example, regulators in Georgia estimate that associations cover 1.5 million residents, in contrast to the state’s traditional small-group market that covers 300,000 people.
So, take a look at what is available to you as an “individual’, you might be surprised to see just how much value is achievable.