- Staff
- #1
Well I know Texas allows them now......what other states allow them........
CLICK HERE FOR MORE INFO
Are you running your own business? Maybe you’re a small operation right now, but you plan to expand in the future. For right now, the payroll includes you and your spouse, who is also involved in the business.
This “mom and pop” business model isn’t all that uncommon, and neither are questions about group medical insurance. Many people ask whether or not they can sign up for group medical insurance as a “mom and pop” entity, before they hire additional employees.
So, what’s the answer? Can you buy a group policy now when it’s just you and your spouse? Or will you have to wait until you’ve hired at least one other employee?
The answer to this question can be yes. It can also be no. It depends, in part, on where you’re operating your business. Each state regulates the insurance policies that can be sold within it. These state-defined insurance laws also lay down what qualifies as a “group” for the purpose of purchasing insurance policies.
While the laws do vary, the general rule of thumb is that spouses do not meet the definition of “group.” Unless you have other employees, you and your spouse wouldn’t be considered a group and therefore wouldn’t be eligible to buy group insurance.
One thing that confuses many people is that, previously, some states did allow groups (often termed Husband and Wife Groups) to purchase group insurance. New York, for example, discontinued this practice in 2014.
As a result, you may have heard some of your colleagues talking about being able to do this. You may even be able to dig up old internet posts concerning eligibility of Husband and Wife Groups, even under the Affordable Care Act when it was first introduced.
In the majority of states, you’ll be required to have at least one W-2 employee working for your business before you’ll be eligible for a group insurance policy. Other restrictions include that the W-2 employee is not related to you. This means the employee must not be an owner or a business partner, or the spouse of an owner or business partner.
Once you meet these criteria, you can purchase group insurance.
There are, of course, exceptions to the rule. A handful of states offer exceptions to spouses meeting particular criteria. If you meet these criteria, you can then qualify for group insurance as a small group, even if your “group” consists only of you and your spouse. If you want to know about your state’s particular rules and whether or not you could qualify, you can talk to a carrier, broker, or workforce management consultant. They have deep knowledge of the rules and regulations in your state. Texas does offer Texas PPO Health Insurance Plans.
Why Would You Buy?
The most common reason a business owner wants to purchase group insurance is to get coverage for their own family, including their spouse and children. You can still provide coverage by purchasing individual policies. Group insurance policies often have preferential rates, but you may not qualify. In this case, individual insurance is the next best thing.
A few people are likely trying to be forward thinking by setting up a group insurance policy prior to hiring additional employees. After all, benefits can help you attract more qualified talent to work for your business! If you want to compete with the big guys, you’re going to need a benefits policy. If you could set up a group insurance policy plan before you needed to hire your first W-2 employee, you’d be at an advantage.
Unfortunately, this option isn’t available for most employers. The best idea is to shop around once you know you’ll be hiring a W-2 employee. You can mention you’ll be offering benefits during the hiring process.
TEXAS PPO HEALTH INSURANCE
Husband and Wife PPO Health Insurance Texas
CLICK HERE FOR MORE INFO
Are you running your own business? Maybe you’re a small operation right now, but you plan to expand in the future. For right now, the payroll includes you and your spouse, who is also involved in the business.
This “mom and pop” business model isn’t all that uncommon, and neither are questions about group medical insurance. Many people ask whether or not they can sign up for group medical insurance as a “mom and pop” entity, before they hire additional employees.
So, what’s the answer? Can you buy a group policy now when it’s just you and your spouse? Or will you have to wait until you’ve hired at least one other employee?
The answer to this question can be yes. It can also be no. It depends, in part, on where you’re operating your business. Each state regulates the insurance policies that can be sold within it. These state-defined insurance laws also lay down what qualifies as a “group” for the purpose of purchasing insurance policies.
While the laws do vary, the general rule of thumb is that spouses do not meet the definition of “group.” Unless you have other employees, you and your spouse wouldn’t be considered a group and therefore wouldn’t be eligible to buy group insurance.
One thing that confuses many people is that, previously, some states did allow groups (often termed Husband and Wife Groups) to purchase group insurance. New York, for example, discontinued this practice in 2014.
As a result, you may have heard some of your colleagues talking about being able to do this. You may even be able to dig up old internet posts concerning eligibility of Husband and Wife Groups, even under the Affordable Care Act when it was first introduced.
In the majority of states, you’ll be required to have at least one W-2 employee working for your business before you’ll be eligible for a group insurance policy. Other restrictions include that the W-2 employee is not related to you. This means the employee must not be an owner or a business partner, or the spouse of an owner or business partner.
Once you meet these criteria, you can purchase group insurance.
There are, of course, exceptions to the rule. A handful of states offer exceptions to spouses meeting particular criteria. If you meet these criteria, you can then qualify for group insurance as a small group, even if your “group” consists only of you and your spouse. If you want to know about your state’s particular rules and whether or not you could qualify, you can talk to a carrier, broker, or workforce management consultant. They have deep knowledge of the rules and regulations in your state. Texas does offer Texas PPO Health Insurance Plans.
Why Would You Buy?
The most common reason a business owner wants to purchase group insurance is to get coverage for their own family, including their spouse and children. You can still provide coverage by purchasing individual policies. Group insurance policies often have preferential rates, but you may not qualify. In this case, individual insurance is the next best thing.
A few people are likely trying to be forward thinking by setting up a group insurance policy prior to hiring additional employees. After all, benefits can help you attract more qualified talent to work for your business! If you want to compete with the big guys, you’re going to need a benefits policy. If you could set up a group insurance policy plan before you needed to hire your first W-2 employee, you’d be at an advantage.
Unfortunately, this option isn’t available for most employers. The best idea is to shop around once you know you’ll be hiring a W-2 employee. You can mention you’ll be offering benefits during the hiring process.
TEXAS PPO HEALTH INSURANCE
Husband and Wife PPO Health Insurance Texas
