Chamber Addresses Common Health Insurance Myths

Last month we introduced the Amherst Chamber of Commerce Health Insurance "Frequently Asked Questions" page on the website to answer many of the questions you as health insurance subscribers may have throughout the year. This month, we are aiming to put to rest a few insurance myths we have come across through speaking to our members.

Below you will find a few more answers to your health insurance questions.

What is the difference between Chamber and Small Group medical plans?

Chamber Group:

The local insurance carriers provide us with medical plans to offer our members.  Current members can then chose a plan that will fit their personal needs and enroll.  The benefits are straightforward and are set by the insurance carrier. These plans are available for groups of all sizes but especially sole proprietors and we coordinate the billing to all employees.  We will review the plans and options with your employees and free up valuable time in your day. The premiums renew each January and new members can enroll as they join the Amherst Chamber.

Benefit Solutions:

Small Groups are made up of 2 or more employees. This option offers the most flexibility and a NYS 45 or 1099 is required to be submitted to the insurance carrier.  Benefits such as prescription drugs, office copays, and hospitalization copays can be adjusted per the insurance underwriter's guidelines so that you can tailor the plan according to your needs.  As a small group in Benefit Solutions, you are billed directly by the insurance carrier monthly and renew the following year on the anniversary that you started your enrollment. 

Do I need to wait until my renewal to change my plan? 

Maybe. Sole Proprietors enrolled in Chamber medical and dental plans are able to change only during open enrollment.  For anyone enrolled through Benefit Solutions, you can review your coverage at any time and move to a new insurance carrier if the rates and benefits fit your needs. 

Should I wait until I receive my renewal to begin preparing for the next plan year?

No. You can start looking at plans any time throughout the year and do not need to wait for the renewal period to make decisions.  We advise you not to rush your decision and take time to weigh any changes to your benefits that might affect the premiums.

What options do I have to enroll in a health insurance policy?

Chamber Group:

As a Sole Proprietor, your options may be limited.  You can enroll in a policy directly with an insurance carrier, but you risk potentially paying more for the coverage. You could also opt for enrollment in the Amherst Chamber's group plans.  There is strength in numbers and joining with a group of business owners under the Amherst Chamber's group policy offers you convenience in the enrollment process and lower medical premiums. 

Benefit Solutions:

Small groups may also take advantage of the Amherst Chamber Benefit Solution's medical plans. We can offer direct billing of your employees, COBRA coverage if you elect to offer the coverage, and your choice of insurance carriers.  Your employees can chose different plans under the Amherst Chamber Benefit Solution's plans, but must opt for the same coverage if enrolling as a small group under Benefit Solutions and tailoring the plans to your needs.

The Amherst Chamber of Commerce aims to be your conduit for up-to-date health insurance information. If you have any questions throughout the year regarding your coverage, please reach out to Christian at csolecki@amherst.org or 716-632-6905.