South Carolina Health Cooperative
Written by Amanda Morgan on November 25, 2010 – 3:33 pmThere have been many changes made to Carolina health insurance over the years, but more are coming. This includes a South Carolina health cooperative designed to help small businesses pay for health care for their employees. With health care costs making or breaking a small business, any help they can get will be valuable.
The South Carolina Health Cooperative (SCHC) combines many different types of companies together to create a pool that applies for health insurance. SCHC structures plans over the long term which protects smaller companies from unexpected rate increases. SCHC is the first approved cooperative in the state which happened this month.
The co-op is available for small businesses with 2-50 employees and the application process has been started. The best thing about this type of pool is that the more people that sign up, the more negotiating power there is to get low rates from the health insurance companies.
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Tags: Carolina Health, Carolina Health Cooperative, Health, Health Cooperative
Posted in Finance News | 1 Comment »
November 29th, 2010 at 8:00 pm
Doesn’t this sound like the small business healthcare reform recently passed by the President…shop exchanges that will pool resources and cut costs. If you work through the government plan, small businesses will get a 35% tax credit retroactive to Jan. 1, 2010 and rising to 50% in 2014.
Nice to know that the government can provide some relief to small businesses whose costs rise 20-40% per year because they’ve actually had to make claims against their insurance policy. I’m glad the government is able to help the small business owner do the right thing for their workers and their families.
Of course, all of this is to be determined by the willingness of the state agencies responsible for insurance policy to fund and implement Federal government common sense, and find real solutions to real problems.
When the insurance industry thought it was a good idea to bring everyone into the insurance pool with required “no-fault” insurance, they sure did get their way. And I imagine everyone has profited handsomely, both the insured and the insurers. It is required by law that all who drive are insured. Why not all who use the healthcare system?