Association for self-employed offers tool and resources for health care plan selection | Business & Energy
Washington, D.C. – With just ten days left of open enrollment for coverage starting on January 1st, the National Association for the Self-Employed (NASE – described in promotional materials as “the nation’s leading advocate and resource for the self-employed and micro-business community”) is urging millions of new and existing small business owners to take advantage of available tools and resources to choose the right health care plan.
(https://www.nase.org/home.aspx )
This year’s open enrollment for small business is particularly significant, with a record number of new entrepreneurs expected to navigate the marketplace exchange for the very first time.
The Medicare annual enrollment period ends Saturday, on December 7.
While millions secure coverage for the upcoming year, there is concern over the future of premium tax credits that have made health care more affordable for many by unlocking access to coverage — these credits are set to expire next year unless Congress takes action to renew them.
If not, this will be the last health care season where they will be available and may jeopardize coverage for many.
“Our community has seen a record-breaking number of new entrepreneurs, and that means more individuals may be selecting and purchasing a new health care plan –- on top of the millions of existing small business owners –- for the very first time. Now is the time for small business owners, solo entrepreneurs and the American public to review available health care plan options, their budgets, and health care needs in order to select the best plan to meet their personal circumstance,” said Keith Hall, President and Chief Executive Officer of the National Association for the Self-Employed (NASE).
(https://www.nase.org/about-us/about-the-nase/nase-staff/keith-r.-hall )
In a press release sent to CityNewsOKC, NASE described itself as “the nation’s leading advocate and resource for the self-employed and micro-business community.”
Hall continued, in the press release narrative, “All Americans who purchase health care on the exchanges, including the millions of self-employed small business owners, should start researching available plans now to be ready and select the right one by mid-December. The record-shattering number of new entrepreneurs who are now part of our country’s small business boom may be purchasing on the exchange for the first time and need to prepare to not be caught off guard, particularly given the rising health care costs that continue to be one of the primary challenges our community faces.”
Open enrollment runs through December 15 for coverage beginning on January 1, 2025
Hall continued, “With open enrollment in full swing, this may be the last year small business owners may be able to take advantage of the premium tax credits available to them to help pay for health care coverage on the exchanges. These tax credits have been instrumental in helping unlock coverage for millions of individuals who have stepped out on their own to start their own small business. Unless Congress acts next year to renew these credits, this will be the last health care season available for small business owners to cover health care costs.”
This past summer, NASE released the findings of its national State of the Small Business Community survey of 681 small business owners comprised largely of NASE members and other small businesses from allied organizations.
The survey, which was previewed in Politico Morning Money, asked self-employed individuals and small business owners to rate current conditions across areas including economic conditions, new technology advancements, public policy issues and retirement benefits, among others.
Among the top challenges identified by those who took the survey, Health Care and Prescription Drug Costs, Taxes, and Inflation were the top three.
Over the last three years, there has been a record-breaking surge of over 19 million new small business applications to the Small Business Administration.
A new rule published in the Federal Register and finalized in 2020 introduced changes to the Patient Protection and Affordable Care Act, the nation’s health care law, resulting in new benefit and payment parameters impacting America’s small business and self-employed community.
Provisions of the rule impacting both current and future health care and Medicare beneficiaries affects eligibility, enrollment, and coverage details.
During Open Enrollment Season, small business owners and individuals can:
*Change medical and dental plans
* Add or remove dependents from coverage
* Enroll or re-enroll in Flexible Spending Arrangements (FSA)/Dependent Care Assistance Program (DCAP) for the next year
Hall concluded, “As more Americans sign-up for health care coverage, America’s new and existing entrepreneurs may need a refresher about how these policies will impact them. Many of these policies strengthened the integrity of both federal and state-based health insurance exchanges. Overall, the new entrepreneurs of our American workforce now benefit from a more predictable regulatory environment, lower prescription drugs costs, and greater transparency.
“America’s health care law, the Affordable Care Act, has resulted in a skyrocketing number of individuals who have signed up for health care insurance and now have access to more enrollment options, hardship flexibility, and special enrollment options. There are resources out there available to you – from organizations like the NASE to healthcare.com to community associations ready to assist new and existing small businesses.”
Important Tools and Resources:
* The National Association for the Self-Employed (NASE): www.NASE.org
* NASE health care insurance tool: https://www.nase.org/request-insurance-quote
* The Federal Health Care Insurance Marketplace – www.healthcare.gov: https://www.healthcare.gov/quick-guide/dates-and-deadlines/
* The Medicare Program: https://www.medicare.gov/
Key Dates and Topics for Discussion
Health Care Insurance Open Enrollment Term: The period began November 1 and runs through December 15, 2024.
Sign-Up Before December 15 to Begin Coverage January 1st, 2025: You must complete your new or renewal application before 11:59 p.m., Dec. 15, for your health insurance coverage to begin Jan. 1, 2025.
If you miss this deadline, you can still sign up for a Marketplace health plan until January 15, 2025, where your coverage would not start until February 1 2025.
After that, you must qualify for a special life event under the Special Enrollment Period. (Emphasis Added.)
(https://www.healthcare.gov/quick-guide/dates-and-deadlines/ )
The HRA Rule is Still Available: In 2020, employers started offering a new health reimbursement arrangement (HRA) option to employees to purchase coverage in the individual market. Employers now offer this new HRA pursuant to a new rule finalized in June 2019 and in effect in 2020.
Medicare Open Enrollment Term: The annual term already began on October 15, and runs through this Saturday (December 7). You can find more information here: https://www.cms.gov/files/document/2024-medicare-open-enrollment-fact-sheet.pdf
Editor’s Notes: NASE was a proponent of the new HRA rule and advocated on the issue for several years since the passage of the ACA and previous guidance restricting HRA use by small employers. NASE details its work in promotional materials this way: “The National Association for the Self-Employed (NASE) is the nation’s leading advocate and resource for the self-employed and micro-businesses, offering a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy.”
The NASE NextBizThing helps identify and connect our nation’s smallest businesses. Need small business help? Check out NASE’s Ask the Experts for advice or the NASE Minute for small business support. The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association’s website at NASE.org.”
Editor Emeritus Pat McGuigan adapted this report from a press release received on December 5, 2024.
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