Illinois Small Business Health Plans👋
You can save thousands of dollars on health insurance for your employees. As a small business the health plans offered follow the ACA rules with no medical underwriting questions. We make the process easy, fast, and simple.
Benefits of Offering Illinois Small Business Health Plans:
Small businesses that offer health benefits attract more talents. Employers with health benefits always stand out among other job opportunities. Employees seek job offers with health benefits over others with no health insurance benefits.
You can offer or add coverage to your dependents (spouse and children under age 26). Offering coverage to dependents allow more families to have affordable access to health insurance. Many employees search for jobs that secure health insurance benefits for their families.
Better Healthcare Access
By offering group health plans your employees will have better access to healthcare providers and hospitals in Illinois. For example, Rush Hospital and Lurie Children only accepted Employer plans and no plans from the marketplace.
Why Smart Insurance Agents?
✅Plan Comparison and Recommendation:
We will help you compare and contrast all available plans and recommend the ones that best fit your employees overall needs.
✅ Renewal Support:
We will handle all the renewal paperwork every year at the plan’s anniversary date. This is the time where you can add, remove, or change plans offered to your employees.
✅Explanation of Benefits Help:
We will help you understand how the EOB’s work and any answer any questions about claims reimbursement.
✅ Formulary Drugs:
Our agents can help you find the list of formulary drugs by the health insurance carrier. Search and explain coverage for certain specialty medication.
✅ Enrollment Assistance
We assist your employees in choosing one of the health plans your are offering and answer any questions you may have.
✅ Eligibility Questions:
Since not all your employees may be eligible for coverage, we are always available to answer any questions about eligibility.
We can generate multiple quotes with different insurance carriers to compare rates.
✅ COBRA Questions:
You will get consistent help while offering COBRA to employees who are terminated. We have documents in place to assist your employees in any way or shape.
✅ Billing Questions:
We will setup your billing account seamlessly, You can choose how would you like to setup your premium payment with the insurance company. We will provide you with all the tax documents needed to write off business expenses.
Does your Illinois Small Business qualify for SHOP?
There are 4 requirements your small business must meet to offer SHOP (Small Business Health Options Program) to your employees.
Less than 50 full time employees
At least one of the employees has to be non business owner, non family member, or spouse.
Health Coverage must be offered to all full time employees
You don’t have to offer coverage to non full time employees (part time employees, seasonal employees, or contractors)
Enroll at least 70% of the employees you offer insurance to
Employees that have other health coverages are not counted as rejecting your health coverage. If your small business do not meet the participation requirement you can always enroll the group between November 15 and December 15 of any year.
Have an office or employee work site within the state whose SHOP you want to use.
You need to have at least one employees working in the state where the plan is being issued. Note that some states have difference rules about participations and requirements.
Get a Free Illinois Small Business Health Plans Proposal
Request a group health plan quote now. We work with multiple health insurance carriers in Illinois. We are unbiased and independent insurance agents. Will offer all available plans in Illinois for your small business.
Group Health Insurance Illinois 👆
Carriers that offer Small Business Health Plans in Illinois
BCBS Illinois Small Business Health Plans
- Blue Choice PPO
- Blue Precision HMO
- Blue Choice Preferred PPO
UHC Illinois Small Business Health Plans
- UnitedHealthcare Choice
- UnitedHealthcare Navigate Plans
- UnitedHealthcare Choice Plus
Humana Texas Small Business Health Plans
- Humana Simplicity
- Humana Copay
- Humana Traditional PPO
- Humana HDHP
Did you know that Employer Sponsored Health Plans are not available on the Marketplace? 💡
Many hospital systems in Illinois only accept plans that are offered by business. Employer sponsored plans have wider network of providers statewide. For example, Lurie Children Hospital and Rush Hospital primarily accept employer sponsored plans or Medicare and Medicaid.
Did you know that Small Business Health Plans can be offered to out of state employees? 💡
If your business hires employees that reside outside the state of Illinois you can offer health coverage to them. Your out of state employees do not have to purchase their own health plans or even worry about reimbursement. The COVID-19 pandemic have introduced more Work from Home jobs where many business are hiring employees that are of the state where is the business is located. A small business health plan leverages the continuity to attract more talents to your business.
Did you know that Small Business Health Plans offer Platinum tiered plans? 💡
All the health insurance plans offered on the Marketplace or by Healthcare.gov in the state of Illinois are either Bronze, Expanded Bronze, Silver, or Gold. A Platinum plan pays up to 90% in Coinsurance and can have a deductible as low as $0.
Frequently asked questions
What is the eligibility to sign up for a small group plan?
Small group plans need at least two full time employees to get coverage. At least one employee should enroll other than the owner, owner’s spouse, or family member. The business should be registered in the state operating and in good standing.
What are the benefits of offering group health coverage to my employees?
Countless. Offering employee benefits makes your business more competitive. Your business will be differentiated than your rivals. According to a survey we conducted in Q3 2021, business owner who offered health insurance to their employees received a higher job satisfaction.
Are the premiums paid by the employer tax deductible for the business?
How many full time employees do I need to start a small group plan?
A small business needs at least 2 full time employees to start a group policy.
Is there an enrollment period to start group coverage for my small business?
No. You can start a group policy at any time of the year. The plan coverage will start the first day of the following month.
Do small group plans ask for medical questions in underwriting?
Small group plans follow the ACA rules. There are no medical questions for the enrollees and no underwriting based on pre-existing conditions.
Can I decline my employer’s health coverage?
Yes. But always weigh all your options before declining Employer’s coverage.
Can i schedule a phone call to review current group policy?
Yes, we encourage you to chat with us about your different options. You may be eligible for additional savings. We can also suggest other plans that are more feasible for your group.
Illinois Small Business Health Plan
If you own a small business, you may be interested in purchasing Illinois small business health plans. However, this type of insurance is not available for self-employed individuals. If you are a self-employed individual, you must purchase an individual health insurance policy. This will save you a significant amount of money on taxes. In addition, a portion of your premiums will be deductible from your taxes. This deduction can reach 70, 80, or 90 percent, depending on the amount of coverage you purchase.
The Illinois small business health plans laws differ from those that apply to self-employed individuals. As a self-employed individual, you will be able to apply for self-employed health insurance with ease. You will also have access to a guide to obtaining Illinois family health insurance. If you’re a self-employed individual, you can benefit from an Affordable Care Act tax credit if you purchase health insurance for yourself and your employees.
One of the main advantages of small business health insurance is that it is affordable. There are numerous types of small business health insurance plans available. Whether you want to purchase a plan for yourself or your employees, you will be able to find an affordable plan for you. The state’s small business health insurance laws have many advantages for you and your employees. So, it’s worth checking out your options.