Greater Together: Health Insurance Through a Small Business Co-operative
Many small business owners struggle with providing quality, affordable health insurance for their employees and themselves. With a limited pool of eligible employees, it is an uphill battle to find competitive rates and coverage in the current healthcare market.
In 2018, in response to this growing need, the GRCC launched a small business health insurance co-operative. A modern approach to employee benefits, the GRCC is the first chamber in the City of Chicago to offer its members affordable, comprehensive, and competitive health insurance options.
How Our Health Insurance Program Works
Enrollment for plans is on a rolling basis. As a co-operative plan, the more businesses that sign up, the more cost-effective the plans offered through our insurance partners.
Because greater enrollment benefits everyone, our health insurance program is open to businesses in neighborhoods adjacent to the Greater Ravenswood area. Any GRCC member, regardless of geography, is eligible to participate.
Group Eligibility Information
On Group Eligibility
A business is considered a “small group” if:
I. The business is an employer (as defined under applicable law) and employed an average of at least one (1) but not more than fifty (50) employees on business days during the preceding calendar year and employs at least one (1) employee on the first day of the effective plan year. Enrollment in the plan must include a least 1 non-owner.
NOTE: If the company did not exist in the preceding calendar year, it must reasonably expect to employ at least one (1) but not more than fifty (50) employees in the current calendar year.
II. The business has no employees, however, it is established and filed as a partnership.
NOTE: A business owned by an individual and his or her spouse, with no employees, may be eligible to purchase group coverage if they are established as a partnership.
III. The business owner(s) is working full-time and has at least one full-time 1099 employee.
In addition to meeting one of the above definitions, the employer applying for coverage must be able to provide the appropriate documentation based on their applicable definition:
Definition I
A. Most recent Quarterly Wage & Tax Statement (Form UI-3/40)
OR
B. Two Week Payroll Report & one of the following:
- Articles of Incorporation
- Articles of Organization
- Certificate of Organization
- Limited Liability Company Organizational Document
Definition II & III
A. Most recent Quarterly Wage & Tax Statement (From UI-3/40)
OR
B. Company’s Schedule K-1 (Form 1065) & one of the following:
- Certificate of Limited Partnership
- Signed Partnership Agreement
- Articles of Incorporation
- Articles of Organization
- Limited Liability Company Organizational Document
- 1099-MISC Form
If you are unsure if your company falls into one of these definitions, please contact the Greater Ravenswood Chamber of Commerce team for clarification.
Overall, the enrollment process takes approximately three to four weeks. As part of the process, you will receive quotes from a couple of insurance companies with different network options. Each insurance option will be unique to the business enrolling.
Request information and begin enrollment
Whether you still have questions or are ready to get started, the first step is filling out our Health Insurance Intake Form. We will follow-up to answer questions and assist you in completely your enrollment. Submitting the form will not obligate you in any way to join our program.