2018 New York Individual Health Insurance

After a lot of discussion and decision making, Peak Advisors is discontinuing sales of Individual Health Insurance effective immediately. We will continue to service in force policies up to the end of 2018, but will no longer work on renewals, provide advice, nor sign up new clients as of 9/1/2018.

While the individual market started out as a vibrant marketplace with many insurance carriers and plans being offered, it has slowly but surely seen the exit of most of the major health insurance carriers in the region and it has become increasingly difficult to manage this book of business.

Most, if not all individual health insurance carriers run at a loss in this market, which has caused a steady decline in available carriers. To slow the enrollment in these plans, most carriers have stopped working with brokers as they do not want to further promote enrollment in plans they are losing money in. This has ultimately affected how we can do business in this market and is the reason for our decision.

It is clear that the individual health insurance market is not only a challenge for us, but for the numerous individual carriers who have come and gone from this market. Until that time, just like so many other brokers and insurance carriers alike, we cannot continue to provide these services only to lose money in providing those services.

As an alternative to the individual marketplace, if you own a business or work at one that currently does not offer health insurance, we might be able to help. A small business with as little as two owners and only one applying can qualify for small group insurance! An owner and a W2 or 1099 employee who enrolls on a plan can also qualify. If this applies to you, you can benefit from a much larger choice of insurance companies and networks that are not available in the individual market. In addition, premiums can be paid with pre-tax company dollars. For more information, please email us the answers to the questions below and we can assist in seeing which plans might work for your individual situation.

– Type of Business (S-Corp, C-Corp, LLC, LLP, Sole Proprietor)
– type of proof of employment available (NYS45, Sch C and NYS45, K1, etc)
– if you file K1s, how many owners are there in the business (needs to add up to 100% of outstanding shares)?
– Are owners listed on the NYS45, or only on the K1s?
– How many employees (including owners) are ENROLLED on the health plan?
– How many employees (including owners) have signed WAIVERS declining the health insurance?



Call : 631-207-1800 or

email: info@peakinsuranceadvisors.com