Colorado Self Employed Health Insurance

Is Colorado self employed health insurance possible? In Colorado , a self-employed individual is eligible to apply for a small group health insurance plan if he meets the following requirements:

• He is either self-employed with no employees, or a sole proprietor who does not offer health insurance to his employees.
• He has been in business for at least a year.
• He works at least 24 hours a week.
• His business income is high enough to be reported for tax purposes.

Colorado regulates the self-employed who do not meet these requirements under the conditions of individual insurance plans.

Health Insurance for the Self Employed in Colorado

So, if you are self-employed in Colorado , what are the benefits of buying small group health insurance? First, you can pay small group rates, which are lower than individual rates. Unfortunately, while businesses of two or more employees are allowed by state law to use any small group plan they choose, the self-employed must pass underwriting requirements for application. This means that self-employed individuals in Colorado with major health problems may be turned down for small group health insurance.

However, an open enrollment option is available for individuals with health concerns for 31 days following their birthday. Keep in mind that such people are only allowed to sign up for Basic and Standard plans, which do not offer comprehensive coverage.

There are other conditions as well that follow and allow the self-employed to sign up for small group insurance without penalty: she can sign up within 31 days of the first day her business qualifies as existing for one year; when a federal COBRA plan expires; and when she voluntarily terminates another health insurance plan. Therefore, the self-employed do have health insurance options for affordable rates in Colorado if they read the fine print on the state insurance web site, www.dora.state.co.us/insurance/ . In all cases, anyone considering small group versus individual health insurance should compare plans, coverage, deductibles, and premiums before making a decision.

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