SPECIAL ENROLLMENT NOVEMBER 15-DECEMBER 15
From November 15 to December 15 only, we can offer Small Group Health Insurance and waive two requirements:
- No required minimum percentage of participating employees
- No required employer contribution to employees’ premiums.
Groups are most advantageous because they offer a PPO that gives access to all Chicago area hospitals and doctors. Currently, individual/family Affordable Care Act compliant plans do not.
Blue Cross Small Group plans also offer features such as combined deductibles that their individual ACA compatible plans do not.
At least two entities are required to qualify for a small group.
- A Partnership of at least 2 partners with a formal partnership agreement. They must be working partners putting in at least 30 hours per week. A group can be created even if only one of the partners takes the insurance.
- Sole Proprietor or LLC, S or C Corp with an employer/owner plus a fulltime employee paid a salary (minimum $1000/month) for whom the owner files a state quarterly wage report (IL340). The FT employee cannot be the spouse of the owner or a child of the owner under 26. OR a part time employee of any age, working any number of hours. In both cases the employer must be filing IL340 Quarterly Wage Report.
The insurance must be offered to all employees. Some may waive joining because they have insurance through their spouse, union, Medicare. Military or Medicaid.
The owner (and family) can have one policy with group coverage even if the employee doesn’t take insurance.
**IMPORTANT** Establishing a small group is a multi-step process: You must request a Proposal to confirm that the business qualifies for Small Group, provide a census that includes genders and birthdates of all who will be offered the insurance so we can generate proposed plans and prices, return signed applications from each participant and the Binder Payment for the first month.
Start now to submit a completed application between November 15 and December 15 to take advantage of the Special Enrollment requirement waivers.
Call us at 847-362-8888.