Sole Proprietor Virginia Legislative Update
At Optima Health, we want to ensure individuals in the communities we serve have access to comprehensive health insurance coverage. That’s why effective July 1, 2018, Optima Health will offer Small Group plan coverage to sole proprietors.
Based on the new legislation under Virginia law, the definition of a sole proprietor is an individual who derives a substantial portion of his income from a trade or business:
- operated by the individual as a sole proprietor;
- through which the individual has attempted to earn taxable income; and
- for which the individual has filed the appropriate Internal Revenue Service Form 1040, Schedule C or F, for the previous taxable year.
If you have any clients who meet the abovementioned criteria, they may be eligible for a small group plan under this law.
A revised 2018 Broker Guide, Small Group Office Guide, and online quoting in eBroker will be available by June 1, 2018. Please note your Optima Health Sales Executive will assist you with quotes until eBroker is updated. In addition, commissions for sole proprietorships will be paid at the established two to three enrolled Small Group tier for both new and renewal business. Please sign in to view Commissions Policy and Schedules.
If you have any questions, please contact your Optima Health Sales Executive for further assistance.