Are you a sole proprietor looking for affordable health insurance? With recent changes to health care, there may be an option for you! President Trump passed an executive order legalizing Association Health Plans. Association Health Plans are a collection of small employers with a common membership. These small employers will join a large group risk pool and get large group rates and plans. There is a handful of new Association Health Plans in Nevada. Hometown Health will soon be allowing Sole Proprietors to join their Association Plan with the Better Business Bureau.
Hometown Health is a local insurance company in Northern Nevada and is also owned by Renown. In 2019, Hometown Health has the lowest costing plans in the individual and family market. They also have the lowest costing plan in the traditional small group market.
Better Business Bureau Association Plan
Hometown Health announced their Better Business Bureau Association Plan in late November. Although, plan benefits and rates will not be available until mid-December. Hometown Health did confirm that they will be allowing Sole Proprietor health insurance plans on their Association policy.
Based on current trends, we are hoping to see rates that are 20% – 30% lower than the standard group market. Sole Proprietors in the individual and family market will see even larger premium decreases.
Other Benefits
Association Plan premiums can be paid for as a pretax expense through Section 125 of the IRS Code. For those who qualify for Sole Proprietor health insurance, they can save thousands of dollars a year with these benefits.
Unlike the individual market, sole proprietor health insurance plans will be available mid-year. Hometown Health has not announced their enrollment guidelines yet. We recommend contacting one of our brokers today so you can receive updates. As your health insurance broker, we do not charge any fees to assist consumers with health plans.
