Frost & Remer Explains How Affordable Care Act Affects Health Insurance for Self-Employed
Frost & Remer discloses that health care expenses can be costly for the self-employed, but there are ways ACA can lower the cost through its program.
About one-third of the overall national labor force is self-employed, which is roughly 42 million Americans. These freelancers and independent contractors carry the burden of covering themselves and their families with health insurance for self-employed. However, health care expenses have impacted these individual’s budgets, and this 2014, they will be forced to shell out more in order to comply with the new mandate. Penalties arise when their current health coverage misses the new standards laid out in ACA.
The reason why ACA places a burden on the self-employed is due to the intention of protecting those who rely on high deductible plans. These health insurance coverage plans mostly offer minimum benefits with lower monthly premiums, often failing to help people with major health issues and leads to risks of unpaid hospital bills and bankruptcies.
However, the government is doing something to offset the costs of getting better policies, says Frost & Remer (http://insurancebyfrost.com). “Newly formed healthcare marketplaces allowed health insurance for self-employed purchases more convenient.” These marketplaces are all available online and users can now participate in these exchanges.
For the self-employed, it is clear that their option is to meet the minimum health insurance policy criteria, or move on into a new plan. This is to avoid facing penalties. When purchasing a new health insurance for self-employed, the plan must include all the benefits from the mandatory list:
• Prescription drugs
• Laboratory services
• Maternity and newborn care
• Pediatric services
• Wellness services, chronic disease management, and preventative care
• Mental health and substance abuse services, including behavioral health treatment
• Outpatient care
• Rehabilitative devices and services
• Emergency services
Finding proper health care is a decision that will affect the self-employed demographic on both personal and professional level. It is important that one seeks the best option for their own sake. To learn more about the benefits of getting all the standard coverage for health insurance, see this video at https://www.youtube.com/watch?v=NnDXlgbkaFg.
About Frost, Remer, and Mercure Financial Services, Inc.: Established In 1989 as an independent insurance agency serving the states Michigan, Ohio, Colorado, Georgia, Illinois, Minnesota, New York, Pennsylvania and Wisconsin with their primary focus on Southeast Michigan and Northern Ohio.
Their mission is to provide reliable insurance advice, quality service and honest claims advocacy at affordable pricing for individual, business and farm owners insurance needs by placing their clients’ insurance policies with insurance company partners that are well respected within the industry and are financially sound.
For more information about how they can help provide the right financial protection for you, visit http://www.InsuranceByFrost.com.
Frost and Remer Insurance
Jeff Frost, AAI
Tel: (734) 794-3072
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