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Corporate Commentary

How Association Health Plans Will Help Your Business Grow

Doctor

Small businesses have received President Trump’s idea of expanding health association plans positively.  It has been observed that the plans will help businesses meet their health cover needs.  Restaurants, plumbing companies, and real estate agencies will all benefit. These plans have availed new opportunities for purchasing health insurance while saving money. Here are ways in which Association Health Plans will help small businesses.

  1. Lessens the burden on entrepreneurs

The entrepreneurial burden and its responsibility could be too heavy for small businesses. But this need not be the case. Small scale businesses could come together and benefit from association health plans. AHPs allow businesses that are operating in a given geographical area to come together. They will then obtain healthcare coverage just the same way a larger employer would do. All entrepreneurs across the U.S. can now form AHPs and enjoy massive health benefits. Also, sole proprietors can join the associations and obtain cover for their loved ones.

  1. Allow members to enjoy more freedom

AHPs are loosely regulated at the federal level. It means that the state will not limit what the programs can cover. Also, AHPs can be formed across the states and offer their services to a broad range of people. These are loopholes that the state may want to regulate and close. But before they do that, small businesses have the freedom to choose who to include in their association. 

  1. Enjoy other benefits

For sustainability, AHPs will need to give their members other benefits alongside insurance. Members will enjoy common conferences where ideas and resources will be shared. It will allow AHPs to mobilize their members and voice on common issues. Some of the problems they will handle range from low wages to improved conditions at their place of work. Also, the groups will be expected to mobilize their members to raise funds for major investments.

  1. No more Obamacare’s mandates

Self-employed people and small businesses can come together to buy health plans. They are exempted from the mandates they had under the Obama care. It allows individuals who would ordinarily consider health insurance expensive afford the cover. It provides an affordable mean through which these individuals could secure health care.  

  1. Corrects the inequities in the existing care plans

Before launching of AHPs, it was costly for small groups to afford health care. Stringent laws made them pay more than what the larger contributors paid.  The larger contributors had more buying power which enabled them to buy health covers cheaply. Obama care did not make things better; it increased the discrepancy. But with AHPs, healthcare is becoming more affordable to small businesses.

For a long time, small scale businesses had to pay high premiums to access health coverage. Some of them ended up closing their business after it became difficult to afford the mandatory coverage. But with AHPs things are going to change. Through the association, bringing together small businesses will give them purchasing power multi-million dollar businesses have. They will afford and enjoy quality health care.


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Emma London
Emma London is a columnist and member of the ​CEOWORLD magazine editorial board. She's one of the magazine's founding editors and leads global newsroom coverage and management. Having lived in five different countries — the United States, Canada, Australia, Spain, and the United Kingdom - Emma is obsessed with how tech empowers people from all walks of life. She is fluent in Spanish.
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