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Health Insurance: What You Can Do Now

Health insurance is a hot topic.

Because the Jan. 1 renewal deadline is quickly approaching, the North American Retail Hardware Association (NRHA) and Hardware Retailing spoke with Bob Chiesa, president and CEO of Custom Benefits Insurance Group Inc., to learn more about the current state of health insurance and how you can be prepared.

The Basic Overview

Republicans in Congress attempted to pass a health care bill to repeal the Affordable Care Act (ACA or Obamacare), but failed to pass their bills and are back at the drawing board. As it stands, the following ACA rules are still in effect.

• Every adult must have group or individual health insurance.

• If a person is uninsured, they’re subject to the individual mandate penalty. The penalty amount for 2017 is $695 or 2.5 percent of income. The 2018 penalty is undetermined.

• Employers with fewer than 50 employees are not required to provide health insurance.

• Individuals can remain on their parents’ insurance plan until age 26.

What Should You Do Before Jan. 1?

Research alternative options to determine if you’re getting the best rate possible. You may find that other programs are more affordable. Even if you’re not ready to switch providers, you could use the cheaper rates to negotiate a deal with your current provider.

How Can NRHA Help?

NRHA Health Insurance offers a variety of insurance options including health, dental, eye and life options to all independent home improvement retailers.

“NRHA’s program is designed with retailers’ needs in mind,” says Chiesa. “This program may be able to offer lower rates due to the volume of retailers who have bought into the program.”

NRHA Health Insurance is managed by Custom Benefits Insurance Group Inc., which automatically examines and markets all member plans on a yearly basis to determine that they’re getting the best rate.

For more information, visit cbigi.com/nrha-program or contact Chiesa at cbigi@msn.com or 888-201-7408.

About Hilary Welter

As marketing and research coordinator, it’s Hilary’s duty to keep retailers informed about NRHA products and services and to help coordinate industry research projects. Additionally, Hilary is the voice behind NRHA’s and Hardware Retailing’s social media accounts. She appreciates a good book, spicy food, well-made horror films, craft beer and exploring new places near and far.

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