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It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.

 
Anonymous Coward
User ID: 1002113
United States
11/20/2013 12:56 PM
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It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
We got a letter informing us our policy has been canceled. The new policy will be 20% higher for an inferior policy. We have to purchase our insurance though a broker. I decided to see how much it would be to go directly to the insurance companies website to see how much it would be to purchase insurance for everyone as individuals instead of as a group.

I found it's 18% cheaper to purchase it for everyone as individuals than it is a group and it's better coverage.
Anonymous Coward (OP)
User ID: 1002113
United States
11/20/2013 01:18 PM
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Re: It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
Can anyone explain why a small business would have to pay so much more. It just does not make any sense.

It's seems as though it's a penalty for providing health insurance for providing health insurance.
Anonymous Coward
User ID: 27792196
United States
11/20/2013 01:25 PM
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Re: It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
perhaps because the dictator running the country wants to see as many businesses get screwed as much as possible...


just a hunch.
Anonymous Coward (OP)
User ID: 1002113
United States
11/20/2013 01:30 PM
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Re: It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
perhaps because the dictator running the country wants to see as many businesses get screwed as much as possible...


just a hunch.
 Quoting: Anonymous Coward 27792196


We are going to purchase insurance for our employees as individuals instead of as a group policy.
Anonymous Coward
User ID: 50280931
United States
11/20/2013 01:32 PM
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Re: It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
Do you have 50 fulltime workers?
Anonymous Coward (OP)
User ID: 1002113
United States
11/20/2013 01:34 PM
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Re: It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
Do you have 50 fulltime workers?
 Quoting: Anonymous Coward 50280931


Less
Anonymous Coward
User ID: 50280931
United States
11/20/2013 01:36 PM
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Re: It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
Do you have 50 fulltime workers?
 Quoting: Anonymous Coward 50280931


Less
 Quoting: Anonymous Coward 1002113


Have them all go on the exchanges and subsidize their premium, it should be cheaper still.
Anonymous Coward (OP)
User ID: 1002113
United States
11/20/2013 01:37 PM
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Re: It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
Do you have 50 fulltime workers?
 Quoting: Anonymous Coward 50280931


Less
 Quoting: Anonymous Coward 1002113


Have them all go on the exchanges and subsidize their premium, it should be cheaper still.
 Quoting: Anonymous Coward 50280931


NO!
Anonymous Coward
User ID: 50280931
United States
11/20/2013 01:37 PM
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Re: It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
Do you have 50 fulltime workers?
 Quoting: Anonymous Coward 50280931


Less
 Quoting: Anonymous Coward 1002113


Have them all go on the exchanges and subsidize their premium, it should be cheaper still.
 Quoting: Anonymous Coward 50280931


BTW, I'm not advocating Zerocare, I'm just saying what would be cheap.
Anonymous Coward
User ID: 27792196
United States
11/20/2013 01:41 PM
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Re: It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
One other option, if you have healthy employees and they would agree to pool premiums, go self insured. Skip out on insurance all together, no plans, no penalty, your company covers costs on a structured employee/employer based plan.

As a sole proprietor of a company myself, this is what I am planning on doing with my employees (family)...
Anonymous Coward (OP)
User ID: 1002113
United States
11/20/2013 01:41 PM
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Re: It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
Do you have 50 fulltime workers?
 Quoting: Anonymous Coward 50280931


Less
 Quoting: Anonymous Coward 1002113


Have them all go on the exchanges and subsidize their premium, it should be cheaper still.
 Quoting: Anonymous Coward 50280931


It's not a company trying to screw their employees. It should be cheaper to purchase the insurance as a group but it's not.
Anonymous Coward (OP)
User ID: 1002113
United States
11/20/2013 06:14 PM
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Re: It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
Called our insurance broker and told them about being able to purchase our insurance directly from the insurance company, Independence Blue Cross, as individuals cheaper than their price. Guess what, they were surprised and are now going to give us the cheaper price.
Anonymous Coward (OP)
User ID: 1002113
United States
11/22/2013 01:13 PM
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Re: It's cheaper for my business to purchase insurance individually from my insurance carrier than it is as a group.
bump





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