Own business - small group of 2 in US

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christina1961
christina1961 Member Posts: 736
edited June 2014 in Employment, Insurance, and Other Financial Issues

I was diagnosed last Feb with Stage 2. I have my own business; my insurance is through my business and we have a group of two.  I am in Tennessee.  Someone mentioned to me that when they had the same situation with a health problem, the insurance increased to some ridiculous amount they couldn't pay the next renewal period.  I have been losing sleep worrying about this since I heard this.   I am the only one able to provide insurance for myself. I think in TN there is no limit to how high they can raise the premium if the group is less than three. I cannot afford to hire another person; I am working 60 hours a week during chemo and have just enough to cover bills as it is.  I am 50 years old.  I don't want to file bankruptcy at this point.

Anyone out there with any helpful info? Thank you so much.

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  • peggy_j
    peggy_j Member Posts: 1,700
    edited December 2011

    I don't have direct experience but I thought buying it through your business was supposed to be better than as individuals. (there was an article in our local paper that this was one person's work-around.). It would be great to get info from someone who had the inside scoop w/o divulging details of your case to your own insurance company. Does your state have a consumer agency on health insurance? CA does and the person I spoke to was extremely knowledge and  helpful. I also spoke to an insurance agent who was not my agent, and she was able to give me some inside info (I felt like I could be more candid with her than my own agent). BTW, when does your policy renew? I thought most businesses had to sign up their employees in Nov, so it seems like if there's a rate hike, you would have heard by now. (but maybe it's diff. for small businesses?) Good luck! This is so stressful!

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  • crabbiepattie
    crabbiepattie Member Posts: 108
    edited December 2011

    Christina,

    I'm keeping my fingers crossed that your premiums don't go up.  If they do, can you go to a group of one for the other insured?  Then you could go on AccessTN.  Good luck and a big hug,

    Pat

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  • ibcmets
    ibcmets Member Posts: 4,286
    edited December 2011

    Just received letter today re: certificate of group health coverage.  States we are covered under HIPPA stating a group health plan may not charge you or your dependents more for coverage, based on health, than the amount similarly charged an individual.

    You have the right to buy coverage  or to be in a high-risk pool without preexisting condition exclusion.  You can not have more than a 63 day break in coverage. 

    Questions, you can contact your state insurance dept., U.S. Dept of Labor or CMS  publication hotline at 1 800 633-4227: www.cms.hhs.gov/HIPAAGenInfo.

    Not sure if group of 2 is eligible or if you are grouped with others, but worth a call.

    Terri

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  • susan_02143
    susan_02143 Member Posts: 7,209
    edited December 2011

    Hi Christina,

    I also own a small business, with exactly one employee. I provide the insurance for my family. I belong to a small group of small businesses organized by a small business service group. My rates only go up as the whole group's go up. My health history is irrelevant.

    Groups that sponsor group health insurance include small business service groups, chamber of commerces, and trade groups.

    It could be well worth your time to search out organizations that you can join for better health insurance protection.

    *susan* 

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  • christina1961
    christina1961 Member Posts: 736
    edited December 2011

    Thanking everyone for their help!!!  This gives me some things to research.  I thought about Access TN if I have to - I'm just not sure if they have a limited out of pocket.  So far I have avoided bankruptcy but I have been working 60 hour weeks during chemo and I am SO TIRED.  I am lucky to have had health insurance, I know - and my situation is not as bad as it is for some.  I just don't want to be without insurance in the future.

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