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My Employees and I Are Losing Individual Health Coverage. What Are My Options?
BY SCOTT WHARTON
President & Founder, Wharton Insurance & Financial Services
With the demise of the individual health insurance market in Indiana, many small business owners are losing their health insurance right along with their employees. If you were relying on the ACA Exchange to cover you and your employees, you are well aware that option is now questionable. With your employees scrambling, you risk losing your workers to competitors by not offering health bene ts. Besides, you and your family need them too!
BAGI GROUP HEALTH
INSURANCE PLAN
As a BAGI contractor member in
good standing, your company may be eligible to participate in the BAGI Group Health Insurance Plan. By pooling
the employees from each member company into the coverage, the BAGI plan is able to offer large-company bene ts to small businesses. Brokered by BAGI member Scott Wharton, and managed by Anthem, participants have
12 plan choices from bene t-rich and low out-of-pocket options, all the way up to plans with the maximum-allowed federal out-of-pocket limits. With BAGI’s program, you and your employees get affordability, quality and choice in their health insurance coverage.
SMALL EMPLOYER CASE STUDY
Wharton Insurance had a small business owner reach out to them because she was losing her individual health insurance. She had not offered an employee plan in the past and was paying $12,000 a year out of pocket just to cover herself on the individual market. The Wharton Team suggested she look at offering a group plan that would include coverage for herself and her employees. The price tag could be the same for better coverage, and she would get the added bonus of making her employees happy. The BAGI plan could provide the same bene t to your company.
TAKE ACTION BEFORE IT IS TOO LATE
Open enrollment started November 1 for AmBetter, the only Affordable Care
Act (ACA) approved individual plan available in our state. For many people, that lack of competition could mean lower-quality bene ts for higher costs. Fortunately, there are other options if you are a business owner interested in providing coverage to your employees as well as yourself. However, you must act before the December 15th
deadline to ensure coverage beginning January 1, 2018!
As long as you have 2 or more employees, the BAGI plan may be the right choice for your business. As an independent insurance broker, Scott can also look into other options if the BAGI plan does not t your situation. There is no cost to explore your options and it only takes about a day to complete. For more information about how you can nd the coverage you need and offer your employees the health bene ts they are looking for, email Scott at scott@wifsinc.com or give
him a call at 317.663.4138.
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