The New York State insurance market is vast and covers a wide range of individuals. This process began a few years ago to have the rare opportunity to scrap what is the older system and try to set up a new system more palatable for every New York resident. On the surface this sounds really interesting, but when an individual begins to research deeper they will find a health care exclusion clause for the sole proprietor. What a sad insurance plan for the state of New York to bring forward to all the citizens.
The various insurance companies that operate within the borders of New York are counter attacking this over ruling by allowing the many business associations to sell to sole proprietors, entrepreneurs, and small business operators their insurance health plan. What this does is allow the small business individuals to share in the benefits of a larger company. The only other alternative for health insurance coverage is to purchase an individual plan. The disadvantage to an individual plan of course is the exorbitant cost to the individual.
This then becomes the responsibility of the business associations themselves to continue to manage all of the administrative aspects associated with the health plans. This will include billing, enrolment, enrolment termination, and collections. The larger health insurance brokerages across the country have not adequately addressed the insurance needs of the New York State self-employed marketplace.
The difficulty will now continue with trying to reduce the spiraling high cost of affordable health insurance throughout the state of New York with the new focus concentrating on the small business, the individual entrepreneur, and the sole proprietor. A few of the categories where the small business will focus is:
1. higher deductibles and annual premium payments
2. association participation and reducing the level of existing coverage
By taking the time to revisit these particular issues many small businesses, proprietors, and individual entrepreneurs will have an opportunity to offer some feedback regarding individual health insurance to help bring the cost down. Perhaps a bargaining chip in these discussions will be streamlining the health care options to fit the individual instead of a one-size fits all approach. Unfortunately this is what is out there at this current time and only adds to the overall costs. Others will have the opportunity to join with the few business associations and purchase medical insurance which will be a little less expensive.