The Governor recently signed SF 2349 into law. The purpose of the law is to assist Iowans who are having difficulties purchasing health insurance on the individual market.

health care for small businessFirst of all, the law allows Iowa Farm Bureau to offer new “health benefit plans” to its members. The plans are not defined as insurance and as such they are exempt from the Affordable Care Act Requirements and Iowa Insurance Division Regulation. Such plans will be self-funded and will be administrated by Wellmark Blue Cross and Blue Shield.

It is projected that the plans will cost $5,000.00 per year for family coverage. Such amount is substantially less than what a family would pay on the individual market place if they were ineligible for subsidies. The Legislature and the Governor see the new “health benefit plans” as a stop-gap measure until such time that the Federal Government deals with health insurance.

The law also allows the expansion of the availability of Employer Association Health Plans (AHPs). The law allows small employers and sole proprietors to join the together to offer Group Health Care coverage for their employees. The hope is to reduce the cost of the insurance for small employers and sole proprietors through the use of larger risk pools.

If you have questions or need additional information on eldercare, wills, trusts, and more, please don’t hesitate to reach out to me at 515-225-1100

By: James D. Beatty