The deadline is approaching for open enrollment for Obamacare 2019, with Dec. 15 being the last day to get coverage from the marketplace. For those who work as contractors in the IT and engineering fields, getting the right coverage for you and your family is important. Using the Health Insurance Marketplace, you can find flexible, high quality health insurance that makes the most sense for your individual needs.
There are many different options out there – from paying low premiums to cover you in “emergency” type situations, to broader, more comprehensive plans with more expensive premiums and broader coverage. As a technical contractor, the staffing company you work for may offer medical benefits as part of your employment contract, but often theses benefits are only intended to satisfy the requirements outlined by the Affordable Care Act (ACA). Therefore, to adequately cover and protect you and your family sufficiently, you will need to elect for broader coverage through the marketplace.
While it’s unfortunate that more staffing companies don’t offer better benefits to their contractors, it’s a reality. We’ve encountered numerous contractors who have come to work at The Hiring Group who have paid thousands in premiums each month for their “marketplace” health insurance because their staffing company offered only minimum coverages or “wellness” or “preventative” coverage options.
When my business partner and I founded The Hiring Group four years ago, we recognized the fact that many contractors are in the unfortunate position of having to pay a ton out of pocket to make sure they and their families are sufficiently covered. We saw an opportunity to improve the way technical contractors are treated in terms of the benefits they have when working as a contractor for The Hiring Group. The many technical contractors we talked to gave us honest feedback. Most of them said that because staffing companies usually provide “minimal” benefits, they are continually looking for new opportunities where they can make more money or full-time engagements that have more affordable coverage.
Taking that feedback, we knew we had to do better. We felt it was our corporate social responsibility to look after our own people. If you’re a contractor and we wanted you to stay with us and work as a contractor for the long-term, you needed to be taken care of and not forced to have to go to a “marketplace” to get health benefits. So, even from the first days of being The Hiring Group, we have built our business on taking care of our contractors. The Hiring Group pays one-half of the employee’s health premium each month. And the coverage? It’s fantastic. We offer a Humana “Gold Level” medical plan that is zero-deductible and co-pay only. When you go to the doctor, you only pay the co-pay and there is no deductible you must accrue before coverage kicks in. Our contractors love being treated fairly and having access to this great medical coverage.
If you’re currently working in a contract for a staffing company that only provides “preventative” coverage, I urge you to beat the rush and elect your medical plan on the Health Care Marketplace sooner rather than later. Dec. 15 is around the corner, and I want to make sure you have the coverage you need. I’d also suggest that if you’re in a contract working for a staffing company that doesn’t provide great benefits, get in touch with The Hiring Group. We are helping companies realize that it’s important to do the right thing by taking care of their contractors.