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Women and Health Care

A recent study shows there are over 10 million companies in the United States that are 50% or more owned by women. The majority of women entrepreneurs are between the ages of 45 and 60, but those ages are trending downward as more and more younger women start businesses.

Many women are going into business for themselves after leaving corporate America, retiring, getting divorced or having their spouse pass away. The business owners’ age, health, number of employees and profitability of the business are among the many factors that shape their health insurance needs and options.

From a statistical standpoint there is no denying that as people age they tend to develop more health conditions. These may be attributed to genetics, lifestyle or the stress that life sometimes brings.

Pre-existing health conditions may make coverage in the individual health insurance market more difficult to obtain depending on the nature and severity of the health condition. Fortunately, most women in business for themselves will have opportunities to get health insurance through their company or as a result of their self employment. However, employer sponsored health insurance in Colorado tends to be more costly than medically underwritten individual health insurance.

Women of child bearing age may be interested in health insurance coverage with maternity benefits. Maternity benefits are standard for employer sponsored group plans, but are less frequently found in individual health insurance plans in Colorado.

To find cost effective and suitable health insurance coverage it is generally good advise to work with an experienced health insurance broker to help match up the business owner’s situation and requirements with the most appropriate type of plan. This can save countless hours of time and effort. In Colorado, the service should be provided at no extra cost or mark up for businesses with 1-49 employees.

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