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How to get Affordable Health Care if you are Self-Employed or Working Part-Time  

How to get Affordable Health Care if you are Self-Employed or Working Part-Time  

Self-Employed or Working Part-Time Health Insurance

Being self-employed or working part-time definitely has some advantages. But getting access to high quality, affordable health insurance isn’t one of them.  

The health insurance market in the United States today continues to center around employer-sponsored health insurance. Americans who work full time at large and some small businesses can often purchase health insurance through their company. The company buys a group policy and pays part of the employee’s share of the premium.  

Unfortunately, many small businesses do not offer group health plans simply because they are too expensive. Other companies have begun designating more and more employees as part-time, ensuring that they work less than 40 hours to avoid the legal responsibility of having to provide health insurance.  

Thus, many American workers—especially those who are self-employed or who work part-time, even working part-time at multiple jobs—have struggled to find affordable insurance outside of an employer-sponsored plan. 

Why Do You Need Health Insurance? 

If you are young and healthy, you may be asking yourself why you need expensive health insurance. If you don’t need to see a doctor regularly, and don’t incur many medical bills, the cost of monthly insurance premiums can seem unnecessary. 

There are two good reasons why you may want to consider purchasing health insurance, even if you don’t foresee developing any health problems. 

First, insurance is, by its very nature, intended to cover you for unforeseen problems. You may be young and healthy now but health problems can—and very often do—arise unexpectedly. And it is substantially more difficult to purchase insurance after you need it.  

And coping with medical bills after a car accident, for instance, a broken limb, or any other unexpected medical emergency can be ruinous without appropriate health insurance. 

Second, you may be required by law to carry health insurance.  

The so-called “national mandate” requiring everyone to purchase health insurance or pay a fee on your federal taxes was eliminated starting in 2019. However, many states still have their own individual mandate laws, and you may find yourself paying a hefty fee on your state income taxes if you cannot prove that you have health insurance coverage.  

Health Care Options for Self-Employed and Part-Time Workers 

Luckily, getting affordable health coverage if you are self-employed or working part-time is not impossible. However, it may take some research on your part to identify possible health care options and to compare policies to find the right ones.  

First, it’s important to make sure you aren’t eligible for coverage under someone else’s policy. 

If you less than 26 years old, you may be able to stay on your parents’ health care plan, if that plan covers children. You are eligible to remain on that coverage even if you are married, not living with your parents, not financially dependent on your parents, and eligible to enroll in an employer’s plan.  

If you are married or in a domestic partnership, you may be eligible for coverage under your spouse or partner’s employer-sponsored health insurance plan.  

If you are single, 26 or older, and not eligible for coverage under a family-based health insurance plan, the best option is to purchase insurance through a federal or state health insurance marketplace. Created after passage of the Affordable Care Act (otherwise known as “Obamacare”), these individual health exchanges offer a variety of different individual plans, some of which may even be eligible for a tax credit.  

The first step is to fill out an application on healthcare.gov or to go to your state exchange website. The application can also help you understand whether you might qualify for free or low-cost insurance through Medicaid.  

You may also want to discuss your health care concerns with an independent insurance agent or a personal finance expert who may also be able to point you in the direction of lower-cost health insurance options. He or she may also be able to provide guidance on how to structure an individual plan to meet your needs and fit into your budget. 

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Contact SunGate Insurance Agency today learn more about the type of insurance you need. Click here to contact us or call (407) 878-7979.

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When Do You Really Need Insurance for Your Business? 

Business Insurance Needs

When you are trying to make your business—big or small—a success, cutting down on unnecessary expenses is a must.  

And it’s easy—and tempting—to list insurance premiums in the “unnecessary expenses” column, especially if you’ve been lucky enough to that you’ve never to rely on an insurance claim.  

In reality, however, no one can predict the future: you never know when a flood or fire might destroy your office building, when thieves might steal your truck filled with tools and equipment, or when you might be the victim of a cybercrime.  

So investing in the right insurance policies can save you a significant amount of money down the road, and even potential legal headaches as well. The key is knowing when you really need specific types of coverages for your business.  

Let’s take a look at some of the most common types of business insurance coverages and when they may be appropriate for your business. 

General Liability Insurance 

General liability protects you from financial damage in case a client, customer, or other third party individual is harmed, or their property is harmed, in connection with your business. So you will likely need General Liability coverage if your business involves: 

  • An office space, store front, or other space that clients and customers visit 
  • If your business involves working at or visiting client property 
  • If you have frequent in-person meetings and interactions with partners, clients, customers, or the public 

Commercial Property Insurance 

Commercial property insurance protects you from financial loss should your working space and equipment be damaged or lost due to theft, vandalism, fire, storms, and other problems included in your policy. You need Commercial Property insurance if you: 

  • Own or lease a storefront, office space, warehouse, or any physical structure 
  • Own or operate any type of office furniture, equipment, tools, and supplies 

It is important to note specific limits on your Commercial Property insurance, however. Most policies will not include damage due to flooding or earthquakes, so if you live in areas prone to specific types of natural disasters, you will need specific coverages such as Flood Insurance. 

Commercial Vehicle Insurance 

Commercial vehicle insurance offers you, your staff, and third parties against financial damage due to traffic accidents, similar to personal auto insurance. You need commercial vehicle insurance if you: 

  • Own or lease vehicles for business purposes 
  • Operates one or more vehicles in order to conduct business, or if you staff utilizes company vehicles to perform their job 

Workers’ Compensation Insurance 

You need Workers’ Compensation Insurance if you have employees. Each state has specific requirements. In Florida, for instance, you must carry Workers’ Compensation insurance if you employ four or more full- or part-time workers; employers in the construction industries must carry it if they employee just one person.  

Directors and Officers (D&O) Insurance 

D&O Insurance protects the decision-makers at your business—such as the Board of Directors and executive officers—from lawsuits that may stem from business decisions they make, including a declaration of bankruptcy. D&O insurance is common for large, publicly traded companies but may be important for smaller businesses seeking to expand, go public, and recruit top talent.  

Errors and omissions (E&O) insurance 

Also called Professional liability insurance, and Malpractice insurance in medical fields, E&O insurance will protect your business from lawsuits stemming from a mistake or error made while offering advice or services as part of your business. Anyone in the business of offering advice or providing a service should actively consider E&O insurance.  

Cyber liability insurance 

If you maintain confidential or personal information in any electronic form for your business, you may need cyber insurance. The potential release of any personally identifiable information for clients, customers, and staff, as well as payment information, can potentially lead to financial harm and lawsuits. And it’s important to note that cybercrime attacks primarily small businesses, not large public firms as most small business owners like to think.   

Determine your risks: know when to get the insurance that really matters for your business 

As a small business owner, it can be difficult to know what types of risks you face and whether a specific type of insurance coverage is really “worth it.” An independent insurance agent can help you review your business needs, assess the risks associated with your industry, location, and other key factors, and help you select a comprehensive insurance policy to protect you against those risks, so you have peace of mind knowing that your business, and your livelihood, is protected against the worst case scenario. 

Need Help to Review Your Insurance? Contact Us.

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Contact SunGate Insurance Agency today learn more about the type of insurance you need. Click here to contact us or call (407) 878-7979.

SunGate Insurance Agency Coverage
Home InsuranceAuto InsuranceHealth InsuranceGroup InsuranceProperty InsuranceRV InsuranceRenters InsuranceEvent InsuranceInsurance BondsLife InsuranceBusiness InsuranceWorkers CompFlood InsuranceUmbrella Insurance and more!

Located in Lake Mary, Florida (serving clients Nationwide and locally in Orlando, Maitland, Heathrow, Longwood, Windermere, Kissimmee, Orange County, Seminole County and surrounding Central Florida areas.

8 Ways to Lower Your Business Insurance Costs 

Lower Business Insurance Costs 

A comprehensive insurance package that protects your business from the unexpected—and the worst case scenario—is a necessary business expense.  

But just because it’s a necessary expense, doesn’t mean you don’t want to minimize that expense as much as possible. Indeed, the key to purchasing insurance is finding the right balance between the appropriate types and amounts of coverages and the overall cost of the package. 

The good news, however, is that it is possible to keep your insurance costs as low as possible. Here are 8 ways you could potentially lower your insurance costs while still ensuring that your business—and your family—are protected against the worst case scenario. 

Minimize the potential for insurance claims 

Not all catastrophes are preventable. But you can take certain steps to minimize the risk that your business will experience an event that will lead to an insurance claim.  

  • Make sure your safety and security protocols meet state and local requirements. 
  • Protect your facility with security and fire sprinkler systems.   
  • Institute comprehensive worker safety programs and protocols. 
  • Provide adequate safety and driver training for your staff. 
  • Maintain robust data security protocols to protect sensitive client data.  

These and other similar steps to decrease your risk evaluation can help bring your insurance premiums down as much as possible. 

Shop around 

Insurance is a highly competitive business, with a multitude of national and local companies competing for business. While it’s important to categorize your insurance needs correctly and ensure that you get the right coverage, comparing a variety of similar policies from different companies will help you feel confident that you are saving as much money as you can. 

Ask for available discounts 

Everybody loves a sale, and it’s no difference in the insurance business. Insurance companies often offer industry-specific discounts, especially if they specialize in your industry or work with a trade association in your industry. You may also get additional discounts for taking additional risk-mitigation steps as noted above. The bottom line: don’t be afraid to ask your insurance provider what discounts it offers and what your business needs to do to qualify.  

Evaluate your policies as frequently as possible 

Most insurance policies are good for one year and will automatically renew at the end of the term. However, reevaluating your insurance needs and your coverages, and even doing a bit of research into how the insurance marketplace has changed, each time your policy renews can help ensure that you don’t get locked into a high cost policy automatically at the end of the policy term.   

Look for insurance bundles

Insurance coverage can be purchased in an a la carte fashion, enabling you to purchase specific types of insurance to address specific types of needs. In many cases, however, it’s cheaper if you can bundle multiple insurance coverages into one package. For instance, a common business insurance bundle is a Business Owner’s Package, or BOP, that combines general liability and commercial property into one package, often at a discount.  

Balance premiums and deductibles 

Your insurance deductible is how much you have to pay out-of-pocket before your insurance kicks in and covers the rest of the claim, up to the limits of your policy. One potential way to keep your premium—how much you pay for the policy each year—low is to purchase a policy with a high deductible. However, it’s important to balance that choice with how much you can afford to pay should you encounter a problem. 

Pay your annual premium in one lump sum 

Paying off your annual premium on a monthly payment plan can make the cost of insurance feel more affordable. However, many insurance companies charge an additional “convenience fee” on top of each monthly premium bill. If your business can support a one-time annual payment, you can save yourself those fees by paying the entire premium up front at the start of the policy term.   

Avoid purchasing unnecessary coverages 

Making sure you have the right insurance to cover you in an emergency is important, but it can be easy to purchase too much coverage, creating an expensive policy that you are unlikely to utilize. An independent insurance agent can help you properly evaluate your insurance requirements and ensure that you are avoiding potential gaps in coverage but not purchasing excess or duplicate coverages.  

 

Need Help to Review Your Insurance Policies? Contact Us.

GET A FREE INSURANCE QUOTE

Contact SunGate Insurance Agency today learn more about the type of insurance you need. Click here to contact us or call (407) 878-7979.

SunGate Insurance Agency Coverage
Home InsuranceAuto InsuranceHealth InsuranceGroup InsuranceProperty InsuranceRV InsuranceRenters InsuranceEvent InsuranceInsurance BondsLife InsuranceBusiness InsuranceWorkers CompFlood InsuranceUmbrella Insurance and more!

Located in Lake Mary, Florida (serving clients Nationwide and locally in Orlando, Maitland, Heathrow, Longwood, Windermere, Kissimmee, Orange County, Seminole County and surrounding Central Florida areas.

Designing and Managing Wellness Programs for Your Company 

Wellness Programs & Insurance

For any company seeking to recruit and retain top talent, comprehensive benefits package that includes high quality health insurance can be an important “perk”. Yet as health care costs skyrocket, the cost of a quality health insurance plan can significantly undermine your bottom line. Adding an employee wellness program into your benefits package can be great way to minimize the cost of your employee health insurance plan without passing those costs along to your employees.  

What is a Wellness Program? 

An employee wellness program is any corporate-wide initiative that encourages employees to become healthier. In general, the goal of a wellness program is to encourage your employees’ to begin and maintain healthy behaviors such as eating well and exercising regularly while minimizing potentially unhealthy behaviors such as smoking and vaping. And it can be a great way to build team spirit as well. 

Every corporate wellness program may look a bit different depending on the program’s goals and how actively the company seeks to encourage participation. Some programs take an educational approach, for example, with online informational classes and quizzes and even in-person forums on weight loss and nutrition, smoking cessation, and mental health issues. Some programs may involve challenges with wearable fitness trackers, weight loss competitions, and team participation in local road races. Some companies may even go further by offering fitness and yoga classes at lunchtime, standing desks, and healthy meals and snacks in the office. 

Most wellness programs involve an incentive system to encourage corporate-wide participation. Participants might earn points redeemable for gift cards when they reach specific milestones, for instance, or individuals and teams might compete for weekly, monthly, or even yearly prizes. The good news is that the possibilities really are endless depending on the needs of your employees and your goals as an employer. 

How Does a Wellness Program Reduce Insurance Costs? 

The premise behind developing a wellness program to reduce health care costs is pretty straightforward: healthier employees tend to incur less healthcare costs, which leads to lower insurance premiums for youIn addition to promoting healthy lifestyle habits, wellness programs can also focus on encouraging employees to get routine health screenings to catch potential issues quickly and to reduce the risk of expensive, health-related problems like obesity and type 2 diabetes.  

For example, routine preventative care could identify that an employee has high cholesterol and is at high risk for a heart attack. Emergency medical care for a heart attack involves thousands of dollars in insurance claims and out of pocket expenses for the employee, and could potentially involve significant losses of both time and productivity. Incentivizing routine screenings and preventative care through a wellness program in this instance could potentially prevent a high-cost heart attack, and save the life of a valuable employee.   

Potential Drawbacks and Challenges 

It is important to note that a wellness program is not a short-term fix to the rising cost of health insurance. Instead, it is a long-term, strategic investment that takes time and effort to administer effectively. Moreover, a wellness program can only be effective with participation. The most successful wellness programs enjoy a high level of commitment from corporate executives and HR representatives, whose enthusiasm for the program encourages widespread participation by employees.  

And it’s important to note that wellness programs may not be appropriate for all employers. Because of the long-term nature of the program, it will not be particularly effective for companies with high employee turnover, such as restaurants and retail establishments, or seasonal workers.  

For companies with a very young workforce whose healthcare costs are already low, generally speaking, a wellness program may not be the best way to reduce your insurance costs; instead, you may want to consider offering less robust insurance options with high deductible plans that may be more attractive to younger employees.  

Getting Started 

The potential benefits of a wellness program, in the long term, are clear. If you believe that your company would benefit from a corporate wellness program, reaching out to your insurance company may be a good first step. Many insurance companies have begun offering online portals, educational materials, and incentive programs to help promote healthy lifestyles. Even small, gradual steps towards helping your employees live healthier lifestyles can pay huge dividends for both you and your team.   

 

Need Help to Review Your Insurance Policies? Contact Us.

GET A FREE INSURANCE QUOTE

Contact SunGate Insurance Agency today learn more about the type of insurance you need. Click here to contact us or call (407) 878-7979.

SunGate Insurance Agency Coverage
Home InsuranceAuto InsuranceHealth InsuranceGroup InsuranceProperty InsuranceRV InsuranceRenters InsuranceEvent InsuranceInsurance BondsLife InsuranceBusiness InsuranceWorkers CompFlood InsuranceUmbrella Insurance and more!

Located in Lake Mary, Florida (serving clients Nationwide and locally in Orlando, Maitland, Heathrow, Longwood, Windermere, Kissimmee, Orange County, Seminole County and surrounding Central Florida areas.

Benefits of a Supplemental Executive Health Insurance Plans for CEOs, CFOs, COOs, and Similar

Benefits of a Supplemental Executive Health Insurance Plan 

In difficult economic times, or even in times of economic uncertainty, it’s not always fashionable to talk about the large salaries and extra benefits enjoyed by corporate executives. Yet the fact is, C-Suite executives—CEOs, CFOs, COOs, CTOs, etc.—make the success of your enterprise possible. Moreover, very few individuals have the experience and skill necessary to be a successful executive. So when you find an executive who is maximizing the success of your business, it’s important to retain his or her talent.  

And let’s be honest, executives—like any good employee—can, and often are, lured away to the competition with promises of higher salaries and better benefits.  

Adding supplemental health insurance benefits specifically for C-Suite and other senior corporate executives be an excellent—and even necessary—way to recruit and retain key leaders. And there are also legitimate reasons why corporate executives may need or want additional health insurance benefits.  

  • Age: In most cases, the experience required to become a successful executive only comes with time, so most (albeit not all) are older than the average employee, with different health concerns than a younger work force. Yet as health insurance costs increase, companies often find it beneficial to offer cheaper policies that appeal to younger, single employees with fewer potential health concerns. Supplemental insurance strictly for executives can bridge that gap.

  • Travel: C-Suite executives usually have a demanding schedule, potentially including significant domestic and international travel. A supplemental health insurance plan should ensure that they have access to high quality health care, globally, so they can feel comfortable knowing that they, and their families, have health coverage wherever they travel.  
  • Expectations: C-Suite executives have worked hard their entire lives to achieve professional success. So whether fair or not, it should come as no surprise that their expectations in terms of salary and benefits are high. A supplemental insurance plan will meet those expectations by ensuring that they have access to white-glove medical service while seeking both preventative and emergency health care. 

What benefits should Executive Supplemental Insurance include? 

The specific health insurance benefits you want to offer your C-Suite and corporate executives will likely depend on a combination of their interests and what your company can support. Here are several examples, however, of the types of benefits that might play an important role in a supplemental health insurance package: 

  • Enhanced coverage options and plan limits for medical, vision, dental, and executive physicals 
  • So-called gap fill plans to cover out-of-pocket expenses like co-pays and deductibles, covering both in-network and out-of-network services 
  • 24/7 global support for medical and travel emergencies 
  • Access to and coverage for out-of-network advice and treatment for second opinions and specialized treatment options 
  • Executive physicals for employee and spouse, as well as enhanced coverage for family members 

The goal of your supplemental executive health care plan is to ensure that your most senior executives have access to white glove medical service and concierge-style customer support. An independent insurance agent who has extensive experience working with a variety of national insurance companies can help you understand which ones offer the type of supplemental plans you want, as well as which ones do—and don’t—deserve a reputation for excellence. Talk to one of our insurance experts today and let us help you find the right supplemental health insurance package for your executives. 

Need Help to Review Your Insurance Policies? Contact Us.


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Contact SunGate Insurance Agency today learn more about the type of insurance you need. Click here to contact us or call (407) 878-7979.

SunGate Insurance Agency Coverage
Home InsuranceAuto InsuranceHealth InsuranceGroup InsuranceProperty InsuranceRV InsuranceRenters InsuranceEvent InsuranceInsurance BondsLife InsuranceBusiness InsuranceWorkers CompFlood InsuranceUmbrella Insurance and more!

Located in Lake Mary, Florida (serving clients Nationwide and locally in Orlando, Maitland, Heathrow, Longwood, Windermere, Kissimmee, Orange County, Seminole County and surrounding Central Florida areas.

Attract and Retain Talent with Better Employee Benefits and Insurance Plans 

Top Benefits You Should Think About Offering to Your Employees 

Anyone who owns or manages a business—big or small—knows that finding and hiring new employees is a difficult and expensive task. Identifying qualified candidate and making sure that they will be a good fit for your team takes time and energy away from other critical projects. So nothing is worse than finding the right candidate, only to have them scooped up by a competitor. 

So how do you make your company more attractive in the hiring market? And once you have the best and the brightest on board with your team, how do you ensure that they stay? 

Making sure that you can offer both current employees and prospective hires a competitive salary within your industry is a great first step.  

Another important—and often overlooked step—is offering a comprehensive and competitive employee benefits package. And loading up your offer letter with some unusual but popular benefits can be a great way to compete with larger companies who may be able to offer higher salaries.   

Include these Benefits for a Comprehensive and Competitive Benefits Package 

Here is a quick-fire list of the best benefits to include in your employee benefits package, loosely broken down into five basic categories: medical, disability, life, retirement, and other.   

Medical Insurance Plans

As the name implies, medical benefits include a variety of insurance and financial incentives designed to keep your employees healthy and make sure that their medical bills are covered. Because of the high cost of medical care today, high quality and comprehensive medical insurance is one of the best benefits you can offer to your employees.  

Medical insurance plans usually include: 

  • Medical 
  • Dental 
  • Vision 

Some employers are also starting to offer additional medical insurance, including: 

  • Hospital insurance 
  • Critical illness insurance 
  • Cancer insurance 

In addition to medical insurance, offering pre-tax spending accounts are another great way to help your employees save money and make sure their medical costs are covered: 

  • Flexible spending account 
  • Health savings account 
  • Health reimbursement account 

Life Insurance Benefits 

Life insurance and related benefits will give your employees peace of mind that their families will not be left with a financial burden after a death or tragic accident.  

  • Life insurance 
  • Accidental death and dismemberment insurance 

Disability Insurance

Like life insurance, disability insurance is an excellent way to ensure that your employees have financial protection in case they are unable to work in the short- or long-term. 

  • Short-term disability insurance  
  • Long-term disability insurance 
  • Accident insurance 

Retirement Plans

Retirement plans offer your employees a way to save a portion of their salary, pre-tax, in order to boost their income after retirement. Many companies will also offer a matching plan, whereby the employer contributes a percentage into that retirement fund, depending on the contribution of the employee. Types of retirement plans include (but aren’t limited to): 

  • 401k 
  • 403b 
  • Simple IRA 
  • Roth 401k 

Different type of retirement plans have different tax and other financial and legal implications for your company, so it’s critical that you partner with a specialized retirement plan advisor who can help you understand your financial and legal obligations.  

Other Benefits to Consider 

Sometimes, offering some uncommon but extremely useful benefits can be a great way to attract and retain great talent. Some of these more unusual benefits include: 

  • Pet insurance 
  • Health and wellness benefits, such as reimbursement for gym membership 
  • Educational assistance such as scholarships or tuition reimbursement 

Unsure how to implement a benefits plan for your business? Finding the right advisors is a good place to start. Each of these benefits have a variety of costs and options, and a specialized advisor can help put together a plan that is right for you. 

In addition, working with an independent insurance agent for insurance-related benefits will enable you to compare the costs of various plans to help you find one that you can afford. 

Need Help to Review Your Insurance Policies? Contact Us.


GET A FREE INSURANCE QUOTE

Contact SunGate Insurance Agency today learn more about the type of insurance you need. Click here to contact us or call (407) 878-7979.

SunGate Insurance Agency Coverage
Home InsuranceAuto InsuranceHealth InsuranceGroup InsuranceProperty InsuranceRV InsuranceRenters InsuranceEvent InsuranceInsurance BondsLife InsuranceBusiness InsuranceWorkers CompFlood InsuranceUmbrella Insurance and more!

Located in Lake Mary, Florida (serving clients Nationwide and locally in Orlando, Maitland, Heathrow, Longwood, Windermere, Kissimmee, Orange County, Seminole County and surrounding Central Florida areas.

Business insurance for home healthcare providers in Florida 

Home Healthcare Provider Insurance

Caring for our elderly and most vulnerable population is critical job, one that can be both personally fulfilling but also extremely challenging. If you own a home healthcare business, you are well aware of the challenges and risks your healthcare providers must cope with as they ensure that the individuals under their care are safe and healthy.  

Just as your employees ensure the health and welfare of their patients, you must ensure the financial health of your home health care business. Small business insurance will protect you and your business from financial damage stemming from a lawsuit or an unfortunate accident.  

Understanding the unique risks home healthcare businesses face can be challenging. We recommend working with an independent insurance agency who can help you develop the appropriate insurance policy to protect your business. And because an independent insurance agency like Sungate Insurance Agency works with a variety of local and national insurance companies, we can shop around on your behalf, comparing quotes to ensure that you get the right policy at the best possible price.  

Types of Home Healthcare Provider Insurance Protections

The type of protections you require—and the cost of your specific policy—will depend on a number of factors relating to your home healthcare business. These factors can include:  

  • The specific home healthcare services your business provides 
  • Whether your business maintains office space, medical and computer equipment, and other property required to run your practice, as well as the location of that space 
  • The size of your practice in terms of annual revenue 
  • The size of your practice in terms of number of employees 

Business Insurance Coverages

Generally speakinga truly comprehensive insurance policy for home healthcare providers will include a mix of standard business coverages and specialized policies unique to the healthcare industry. Depending on how you operate your specific business, you may want to consider a policy with the following coverages: 

  • Business Owners’ Package (BOP): Some combination of general liability and commercial property insurance contained in a BOP may be required if you maintain an office. This will protect you if your business property, including office space and medical records, are damaged or destroyed by accident or fire. Most insurance agents will also recommend that you purchase additional flood insurance to protect your property in the state of Florida. 

  • Business Income protects from financial loss in case your business must temporarily close or you and your staff cannot treat patients due to specifically-covered property damage. 

  • Worker’s CompensationIf you employ four or more full-or part time employees, you are required by Florida law to carry Worker’s Comp, which will pay medical bills and lost wages to employees who development an occupational illness or are injured on the job 
  • Commercial Auto InsuranceIf you own or operate a vehicle for business purposes, Florida law also requires that you carry commercial auto insurance. 

  • Medical Malpractice Insurance (also called Professional Liability/Errors and Omissions Insurance): While Professional Liability insurance is recommended for any business providing a critical service, it is especially important for home healthcare workers. It will help protect against financial loss stemming from a lawsuit specifically relating to the advice and treatment you provide to your clients while caring for them in their homes

  • Data Breach/First-party Cyber LiabilityBecause your business deals with sensitive medical information about your clients, including data such as social security numbers, health insurance policies, and credit card numbers, you may want to protect yourself in case of a data breach. This coverage can include covering the costs of notifying patients and paying HIPAA fines.  

Knowing the risks you face as a home healthcare professional can be challenging. Working with an independent insurance consultant like Sungate Insurance Agency can help ensure you have peace of mind with the right insurance protection at a price you can afford! 

Need Help to Review Your Insurance Policies? Contact Us.


GET A FREE INSURANCE QUOTE

Contact SunGate Insurance Agency today learn more about the type of insurance you need. Click here to contact us or call (407) 878-7979.

SunGate Insurance Agency Coverage
Home InsuranceAuto InsuranceHealth InsuranceGroup InsuranceProperty InsuranceRV InsuranceRenters InsuranceEvent InsuranceInsurance BondsLife InsuranceBusiness InsuranceWorkers CompFlood InsuranceUmbrella Insurance and more!

Located in Lake Mary, Florida (serving clients Nationwide and locally in Orlando, Maitland, Heathrow, Longwood, Windermere, Kissimmee, Orange County, Seminole County and surrounding Central Florida areas.

Business Insurance for EEG Technicians in Florida 

(EEG | END) Technician or Technologist Insurance

As an EEG technician, your highly specialized screenings provide critical information about your patient’s health. In fact, you play a critical role in diagnosing and treating problems in arguably the human body’s important organ: the brain and central nervous system. Your electroencephalogram tests can help reveal brain tumors, identify brain damage from injury or stroke, diagnose epilepsy or a seizure disorder, and assist with sleep disorders, just to name a few. 

Any medical diagnostic work requires a high degree of accuracy. But for EEG technicians, responsible for understanding the human brain, the stakes are arguably higher: the smallest mistake resulting from defective equipment or an uncooperative patient could be disastrous. Even caring for a patient who needs someone to blame for an unhappy outcome can lead to a nuisance lawsuit. 

Professional liability insurance, also called malpractice insurance, can offer you the protection you need from financial disaster stemming from a lawsuit against you.  

As an EEG Technician, Do I Need My Own Malpractice Insurance Policy? 

Whether or not you require your own personal malpractice insurance depends, in most cases, on your employment status. 

If you are a self-employed contract worker, then the answer is definitely: yes. While the health care company or treatment facility you work at is likely to have professional liability insurance, as an independent contractor, that policy may not cover you. Therefore, you should have your own policy that will follow you from facility to facility. 

If you are a full-time employee at a hospital or diagnostic lab, then you should be covered against lawsuits by that facility’s insurance policy.  

However, even as a full-time employee, there may be reasons why you also want to carry your own malpractice insurance. Unfortunately, your employer’s policy may have coverage gaps that could leave you financially exposed under certain circumstances. For example, their coverage may not: 

  • Cover lost wages, defense fees, or licensing board hearing reimbursement 
  • Have high enough policy limits to cover the full cost of a lawsuit 
  • Cover you against lawsuits filed after you have left for a new job 
  • Cover you if you perform part-time contract work in addition to your full-time employment 

Therefore, it’s very important to understand all the fine print in your employer’s policy in order to decide whether getting a personal malpractice policy makes sense for you. 

What Should An Independent Malpractice Insurance Policy Include? 

Comprehensive malpractice insurance coverage should offer you, if possible, complete financial protection shoula patient file a lawsuit against you. So here are a few tips to think about when looking at different malpractice policy options: 

  • Claims-made coverageA “claims-made” policy must be active when the alleged incident took place and when the claim is filed, so your policy should follow you regardless of where you work at any particular time.  
  • Tails and Prior ActsAs always, it’s important to understand the fine print of any insurance policy (an insurance agent can help you understand the industry “jargon” that can make insurance sometimes confusing.) If your insurance policy is tied to one particular place of employment, you want “tail” or “prior acts” insurance.  
  • Limits and Deductibles: Malpractice insurance usually has two different type of coverage limits: per occurrence is the amount your policy will cover per incident and overall aggregate is what your policy will cover throughout the entire policy period 

Understanding the type of malpractice insurance you need as an EEG technician can be difficult. The insurance experts at Sungate Insurance Agency can help. We can help you identify all your insurance requirements, help you understand all the important details, and gather free quotes to ensure that you get the best possible price for your malpractice insurance policy. 

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Contact SunGate Insurance Agency today learn more about the type of insurance you need. Click here to contact us or call (407) 878-7979.

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Benefits Law Update by Verrill: Paying Health Insurance Premiums for Furloughed or Laid Off Employees

Furloughed / Laid Off Employee Benefits

Employers of all sizes in nearly every industry have had to lay off or furlough employees in an attempt to deal with the massive business disruptions caused by the spread of COVID-19. Facing this reality, many employers have asked whether they can pay monthly health insurance premiums on behalf of furloughed employees (those who are expected to return to work fairly soon) or laid off employees (those who may or may not return to work) and, if so, what are the implications of doing so. The short answers to these questions are: yes, premiums may be paid, and the implications dependon the employer’s plan.

ERISA and Federal Income Tax Rules

From the standpoint of federal benefits law, nothing prevents an employer from paying monthly premiums on behalf of furloughed and laid off employees in order to keep coverage in force under a fully insured group health plan. In addition, an employer can choose to pay monthly premiums for one group but not the other. The employer-paid health insurance premium will continue to be excludable from the gross income of the affected workers, because active, inactive and former employees are treated the same under the tax rule that makes available the exclusion of employer-paid premiums from gross income (Code Section 106). We understand that insurance carriers are providing the same answer to their employer group customers and are accepting such premium payments and continuing coverage without interruption. But in light of the COBRA issue described below, employers that sponsor fully-insured group health plans should confirm with their brokers or carriers that coverage will continue without the need for a COBRA election as long as the employer continues to pay the premiums. Read More.

COBRA Implications

Recommendations Regarding Implementation

 

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Car Insurance for Teenagers in Florida 

Auto Insurance for Your Teen Driver 

They’ve had their learner’s license for a year, they’ve passed the driving test, and now they have their very own driver’s license: your teen is ready to head out on her own! Taking the car out for the first time is both fun and exciting for your teenager, even if it might be a little scary for mom and dad.  

Of course, while your new driver was preparing for that first solo drive, you have been preparing to face that first insurance bill. Unfortunately, insurance companies see teen drivers as “high risk”; indeed, teenage drivers have 3 times as many car accidents per mile as drivers over the age of 20 and more than 25% of auto insurance claims are submitted by drivers under the age of 25. Therefore, car insurance rates are correspondingly higher for teen drivers than for drivers in their 40s with a clean driving record (for example).  

However, just because your family has added a new driver doesn’t mean that your car insurance bill has to break the bank. While it’s a good idea to assume that your insurance premium will go up, it is possible to explore a variety of coverage options and get quotes from a variety of different insurance companies in order to save as much money as possible. At Sungate Insurance Agency, our insurance experts can help you understand the different options for insuring your teen driver in order to help you get the best coverage at the best possible price! 

What’s Best: Adding a Teen Driver to Your Policy or Purchasing a Stand-Alone Policy?  

Generally speaking, the cheapest and easiest way to insure your teen driver is to add him to your existing car insurance policy. By adding him to your policy, all of your coverages, limits, and deductibles will apply to your teen as well as any other named drivers on the policy. Your teen will also share the benefits of any policy perks you have earned, such as discounts for a clean driving record. If your teen is lucky enough to get her own car, you can customize the specific coverages on that car and even potentially qualify for a multi-car discount.  

It is important to note that adding your teen driver to your car insurance policy will increase your insurance premiums. Moreover, if your teen gets a moving violation (like a speeding ticket, for example) or causes a traffic accident, you could lose any safe driver discounts that you have earned.  

Another potential option is to purchase a separate car insurance policy for your teen driver. In most cases, purchasing two separate policies will be more expensive than having one policy with multiple drivers. There are some limited cases, however, where a separate policy might make sense: for instance, if an adult on the policy has been convinced of a DUI or has received multiple tickets, the premiums on a joint policy may be significantly higher than two separate policies.  

Steps to Saving Money on Your Teen Driver’s Car Insurance  

While it’s important to accept that your car insurance bill will go up when you add a teen driver, there are ways that you can reduce the amount that it will go up. Here are five easy things you can do to keep that car insurance bill as low as possible when adding a teen driver: 

Look for Insurance Discounts 

Some insurance companies will offer a discount on your insurance premiums for taking certain steps that they deem will make you a safer driver, and therefore a lower risk. Having your teen take Drivers Ed and/or a defensive driving class can lower your premium. And some insurance companies will offer discounts for good grades as well!  

Drive a Safe Car 

If you want to keep your insurance premiums low, getting your teen a fancy sports car is not the best approach. Cars that the insurance companies deem to be “safe”, such as those with enhanced safety features and good crash safety ratings, will have lower premiums. 

Adjust your Coverage Options 

Not every car requires the same level of coverage. If you do decide to purchase a car for your teen driver, you may want to remember that an older car with many miles may not need coverages such as comprehensive and collision. 

Increase your deductible 

The general rule of insurance is the higher your deductible, the lower your premium. So raising your deductible—the amount you pay out of pocket before insurance kicks in—can keep your monthly premium low. It’s important to remember, however, that should your teen cause a traffic accident, you will have to pay more out of pocket to cover any potential damages. 

Keep a clean driving record 

Remember, just because insurance companies see teen drivers as high risk, doesn’t mean your teen has to be high risk. Remind your teen that failing to follow speed limits and other rules of road, texting while driving, and causing a traffic accident can be extremely costly!  

Increase your deductibles 

Raising certain coverage deductibles from, say, $500 to $1,000 could cut down on your monthly premium. Keep in mind that you could owe more out of pocket if an accident does occur — but if your teen is especially cautious or rarely takes the car out, this could be a way to keep your premium affordable. 

 

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Contact SunGate Insurance Agency today learn more about the type of insurance you need. Click here to contact us or call (407) 878-7979.

SunGate Insurance Agency Coverage
Home InsuranceAuto InsuranceHealth InsuranceGroup InsuranceProperty InsuranceRV InsuranceRenters InsuranceEvent InsuranceInsurance BondsLife InsuranceBusiness InsuranceWorkers CompFlood InsuranceUmbrella Insurance and more!

Located in Lake Mary, Florida (serving clients Nationwide and locally in Orlando, Maitland, Heathrow, Longwood, Windermere, Kissimmee, Orange County, Seminole County and surrounding Central Florida areas.