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There are 28 million small businesses in the United States, a number that has increased 49 percent since 1982.1 About 66 percent of those businesses will survive their first two years.2 Approximately 33 percent will fail for financial reasons.3
Having a comprehensive health insurance benefits package is one thing that can help small business owners protect their finances. In addition to an Obamacare plan, as required by law for most individuals, supplemental coverage can also help with medical bills and other out-of-pocket expenses when unexpected healthcare is needed.
Critical illness insurance is one such coverage option.
No personal information required unless you apply.
Perhaps you already have an Obamacare plan purchased through the private market or a state-based or federally facilitated exchange. That plan may offer affordable health insurance coverage that meets your typical healthcare needs in a given year. But what about the medical bills you don’t anticipate? Do you have the means to pay for unexpected healthcare and lost wages due to a critical illness such as a heart attack, stroke or cancer?Consider how you will pay for the following:
Critical illness plans, which are designed to complement your major medical plan, provide a lump sum benefit payment upon diagnoses of a covered critical illness. This payment helps with your financial obligations, so you can focus on getting well, and may be used however you choose.
The critical illness plans available through healthedeals.com:
The underwriting process is fairly simple and straightforward. You will answer a few health questions, provide your height and weight, and consent to a Medical Investigations Bureau report. Use of tobacco may increase your policy premium. Otherwise, your application will be either accepted or rejected; there are no exclusionary riders placed on critical illness policies.
To learn more about critical illness coverage and how it can be a smart addition to your benefits as a small business owner, call the number at the top of your screen. You can expect friendly, helpful service without pressure to buy.
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1 U.S. Small Business Administration. “Small Business Trends.” Accessed June 13, 2016. https://www.sba.gov/managing-business/running-business/energy-efficiency/sustainable-business-practices/small-business-trends
2 Jorden, Ryan. “What Are the Real Small Business Survival Rates?” LinkedIn. Sept. 15, 2014. https://www.linkedin.com/pulse/20140915223641-170128193-what-are-the-real-small-business-survival-rates
4 Goltz, Jay. “Top 10 Reasons Small Businesses Fail.” NY Times. Jan. 5, 2011. http://boss.blogs.nytimes.com/2011/01/05/top-10-reasons-small-businesses-fail/?_r=0
This document is for general informational purposes only. While we have attempted to provide current and accurate information, this information is provided "as is" and we makes no representations or warranties regarding its accuracy or completeness. The information provided should not be construed as legal or tax advice or as a recommendation of any kind. External users should seek professional advice from their own attorneys and tax and benefit plan advisers with respect to their individual circumstances and needs.
A CRITICAL ILLNESS INSURANCE PLAN PAYS OUT LUMP-SUM CASH BENEFITS UPON DIAGNOSIS OF CERTAIN COVERED ILLNESSES AS SHOWN IN THE CERTIFICATE. THIS PRODUCT IS NOT INTENDED TO QUALIFY AS THE MINIMUM ESSENTIAL COVERAGE REQUIRED BY THE AFFORDABLE CARE ACT (ACA).
About The IHC Group
Independence Holding Company (NYSE: IHC) is a holding company that is principally engaged in underwriting, administering and/or distributing group and individual disability, specialty and supplemental health, pet, and life insurance through its subsidiaries since 1980. The IHC Group (including through its 92% ownership of American Independence Corp. (NASDAQ: AMIC)) owns three insurance companies (Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Independence American Insurance Company), a majority of Ebix Health Administration Exchange, Inc., a fully insured third party administrator, and IHC Specialty Benefits, Inc., which is a technology-driven insurance sales and marketing company that creates value for insurance producers, carriers and consumers (both individuals and small businesses) through a suite of proprietary tools and products (including ACA plans and small group medical stop-loss). All products are placed with highly rated carriers.IHC Specialty Benefits, Inc.