Benefits of Small Business Health Plans

Benefits of Small Business Health Plans

1. Introduction to Benefits of Small Business Health Plans:

Small business health plans are a type of group health insurnance plans or employer offered health insurance plans. The small business health plans follow the ACA rules in terms of coverage and underwriting. There are no medical questions involved or medical underwriting needed to issue a small business health plan. Many small business have no idea about the plethora of benefits these health plans can provide to their employees.

2. Small Businesses

Small businesses represent the majority of the capital gains in the USA. Many small businesses are offering job security and income to different number of individuals that cant get a job at a corporate level companies. Small businesses may have different tax benefits and relief protocols to ease thei day to day operations and annual cost. During the pandemic of COVID-19 we saw many small businesses affected with the surge of COVID-19 cases which eluded to lockdowns and businesss halting. Many employees were laid off and others chose to not work. However, everyone maintained or attempted to find a way to keep their health insurnace. If nothing before had proved the importance of health insurnace, the COVID-19 pandemic is a sufficient evidence.

3. Group Health Insurance or Employer Health Insurance

Employees can receive health insurance benefits for themselves and their spouses/children through their employer health insurance coverage. Employees may or may not pay part of the premium cost per month. Some employees cover the full cost of health insurance for their employees, while others cover to a certain percentage. Regardless of the business size , employers can offer health insurance benefits to their employees in any state. Small business health plans are offered from employers who do not have more than 50 full time employees. Once a business reaches 50 or more full time employees, then the group plan is considered middle market. A small business group health plan could be issued with as little as 2 full time employees who are not spouse/child/immediate family member.

4. Benefits of Small Business Health Plans:

So what are the benefits of offering small business health plans to your employees? Well, health insurance have become more and more important feature in the benefits portfolio, a candidate or an employees looks at to assess the job and the company. People have elected to choose a job with lower salaries but better healthcare benefits overall. The root issue is that the healthcare costs are extremely high and unaffordable in the USA. If you work and make an income above the federal poverty limits, then you do not qualify for Medicaid. Besides, buying a health insurance plan on the marketplace may be way more expensive and may not be accepted at all the hospitals. Thus, offering small business health plans to employees is beneficial, the say the least.

  • Employees benefit from great networks similar to those offered in large groups. 
  • Employees can receive guaranteed health coverage for their spouses and children under 26.
  • Employees can save on the cost of their healthcare insurance as the employer contribution will lower the premium. 
  • Employers could appeal more  competitive in terms of recruiting and hiring talents.
  • Employers can make current employees happy/happier by offering them great health coverage.
  • Employers will save a lot of money on their income business tax, as premiums paid towards employees’ benefits are considered an expense

 

Where to get small business health plans?

Small business health plans can be issued by a licensed health insurance agent. Your health insurance agent can prepare a proposal to you with different carriers and plans for you and your employees to choose from. You can start a group health plan at anytime of the year. Generally, the start coverage date can be the first of the month or the 15th of the month. You need at least 2 full time employees to start a group health plan. One of the employees has to be a non spouse and non family member. 

 

Click here to get a free group health proposal or contact a group benefits agent about your small business.

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Based on 19 reviews.
Cassandra Heitman
Cassandra Heitman
March 14, 2022.
Verified
It's a pleasure to work with Tarek El Ali! He helped me successfully get medical coverage for my small business. He made the process very easy and he responds to all concerns promptly. Thank you, Tarek.
arron draper
arron draper
January 8, 2022.
Verified
I worked with Tarek to find a suitable Medicare plan for my husband. We got it handled in one phone call. I was so impressed! Now I am becoming eligible for Medicare and worked with Tarek again. He was amazing! We found an affordable plan that meets all of my needs. I highly recommend him and will use his services again in the future.
Erika Vevang
Erika Vevang
January 5, 2022.
Verified
I was previously working with someone through my franchise company to set up insurance for my employees. Low and behold after weeks of working with her she was not able to complete my process and was not very responsive when I asked her questions. She referred me to Tarek to finish up and he immediately contacted me and got my plan completed within the day! He was super nice and made sure my account was set up and ready to go before we missed our deadline. Highly recommended!
Kyle Lanza
Kyle Lanza
January 4, 2022.
Verified
Healthcare.gov can be a little confusing so I called them up for help figuring everything out when I turned 26. Tarek is excellent at what he does. He had everything figured out for me in less than 15 minutes on the phone with him. I was so impressed that he will continue to be my go to guy for anything heath insurance related. I can not recommend him enough.
Jeffrey Walker
Jeffrey Walker
December 30, 2021.
Verified
This is our 2nd time working with Tarek to find the right health insurance policy for my small business. In both cases the knowledge of the changing insurance landscape in Illinois has helped us greatly.
Craig Baglien
Craig Baglien
December 19, 2021.
Verified
Smart Insurance Agents especially Tarek were extremely helpful in selecting and also answering follow questions on the offering I selected.
Peter Ward
Peter Ward
December 15, 2021.
Verified
Tarek has help me multiple times with finding appropriate insurance options. He listens to specific needs and helps find fitting plans. The process is smooth and quick but also informative. He is very professional and responsive.
JeongHun Paik
JeongHun Paik
December 14, 2021.
Verified
Very professional and trustworthy! As all the other reviewers posted, Tarek did an awesome job! Thank you!
Paulina Pietras
Paulina Pietras
December 11, 2021.
Verified
Jessica Wheeler
Jessica Wheeler
December 11, 2021.
Verified
Tarek El Ali was amazing! He is so helpful and I finally have an insurance plan that I truly believe is right for me! Thank you!! Highly recommended!
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