Illinois Small Business Health Plans👋
You only need 2 full time employees to get an Illinois small business health plan. Illinois Small Business Health plans are offered with no underwriting, and same elite networks offered to large companies.
Benefits of Offering Illinois Small Business Health Plans:
%
Productivity
Source: MetLife, Workforce Insights, EBTS 2023 Data Visualization
%
Talent Attraction
%
Retention
Talent Attraction
Businesses that provide health benefits tend to attract a higher caliber of talent. Employers who offer health benefits distinguish themselves from the competition in the job market. Job seekers often prioritize positions that include health benefits, favoring them over opportunities that lack insurance coverage.
Dependents Coverage
The option to extend coverage to your dependents, including your spouse and children under the age of 26, is available. This provision enables more families to access health insurance at an affordable cost. A significant number of employees actively seek employment opportunities that provide health insurance benefits for their families.
Better Healthcare Access
Through the provision of group health plans, your employees will gain enhanced access to healthcare providers and hospitals within Illinois. Notably, institutions like Rush Hospital and Lurie Children exclusively accept employer-sponsored plans, while plans from the marketplace might not be accepted.
Seeking coverage for your small business in and around Chicago, Illinois?
You’re in the right spot. We got you covered all across the state, including the bustling Chicagoland area. As independent agents we work with all major carriers including Blue Cross Blue Shield of Illinois, United Healthcare, Cigna, and Aetna.
Why work with us for Small Business Health Insurance?
We’re all about tradition with a twist – making quality healthcare affordable for everyone. We’re here to improve the present and invest in a healthier future. For Chicago’s small business owners, we’ve lined up a buffet of healthcare plans. Each comes with access to a wide network of healthcare providers and comprehensive benefits, fitting both your employees’ needs and your budget.
3 Steps to Enroll in a Small Business Health Plan
Discover Your Perfect Fit
Kick off your journey to better health coverage! Answer a handful of friendly questions about your business and healthcare needs. It's as simple as a friendly chat!
Explore Your Options
Unveil a world of small business health plans tailor-made for you! Take a peek at the plans in your neck of the woods. Compare coverage choices and catch a sneak peek of what your monthly costs might look like.
Make It Official
You've found the one (or ones!) that tick all the right boxes. Now comes the exciting part—getting covered! Dive into easy application options: online, email, or good old-fashioned phone call. It's your call
Illinois Small Business Health Insurance Carriers
Blue Cross Blue Shield of Illinois
Blue Cross Blue Shield is one of the largest health insurance providers in Illinois, offering a range of health insurance plans for small businesses. They provide various options, including Preferred Provider Organization (PPO) plans, Health Maintenance Organization (HMO) plans, and Exclusive Provider Organization (EPO) plans.
UnitedHealthcare
UnitedHealthcare is a prominent health insurance carrier that offers small business health insurance plans in Illinois. They offer a variety of plan options, including HMO, PPO, and high-deductible health plans (HDHPs), along with additional services such as wellness programs and telemedicine.
Aetna
Aetna, a subsidiary of CVS Health, provides small business health insurance plans in Illinois. Their plans include a range of options, such as HMO, PPO, and HDHP plans, and they offer various network options and value-added services to meet the needs of small businesses
Cigna
Cigna is another major health insurance carrier that offers small business health insurance plans in Illinois. They provide a variety of plan options, including HMO, PPO, and HDHP plans, and offer a wide network of healthcare providers.es
Still have questions?
We’ve got answers.
What are Illinois Small Business Health Plans?
Illinois Small Business Health Plans are health insurance options designed specifically for small businesses in Illinois. These plans offer coverage to the employees of small businesses, providing them with medical, dental, and sometimes vision benefits.
How do Small Business Health Plans differ from individual plans?
Small Business Health Plans are meant for employers to offer coverage to their employees as a group, while individual plans are purchased by individuals for themselves and their families. Group plans often have better rates and benefits due to the collective purchasing power of the business.
How many employees does a business need to qualify for these plans?
In Illinois, the definition of a small business can vary, but typically ranges from 2 to 50 employees. Some plans might have slightly different criteria, so it’s important to check with insurance providers for specific details.
Are small business health plans mandatory in Illinois?
Small business health plans are not mandatory for employers in Illinois, but they can be an attractive benefit to offer to employees. Employers with 50 or more full-time equivalent employees might be subject to the Affordable Care Act’s employer mandate, which requires them to offer affordable health insurance to employees.
What types of coverage are included in these plans?
Small business health plans can include various types of coverage, such as medical, prescription drugs, mental health services, preventive care, and maternity care. Dental and vision coverage might also be available as add-ons or as separate plans.
Can employees choose their own doctors within these plans?
Small Business health insurance plans offer PPO and HMO plans where employees have the freedom to choose their doctors.
Can I offer different plans to different employees?
Yes, many small business health plans offer flexibility to offer different plan options to different employee groups based on their needs. For example, you might offer different plans to full-time and part-time employees.
Are there any tax benefits for offering these plans?
Yes, there can be tax benefits for both employers and employees. Employer contributions to employee premiums are often tax-deductible for the business, and employees’ contributions are usually made with pre-tax dollars, reducing their taxable income.
Can small businesses change plans during the year?
In general, small businesses might have limited opportunities to change plans outside of the open enrollment period, which is typically once a year. However, there are certain qualifying life events (e.g., marriage, birth of a child) that might allow for mid-year plan changes.
I'm self employed and have an LLC, can I get a small business health plans?
Yes. Self employed and freelancers have many options to get health insurance in Illinois. Between November 1st and December 15th every year you can enroll in a 1 person small group health plan in Illinois.
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?
Yes. 100%
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.
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Must Knows
Did you know that Illinois Small Business 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 larger network of providers nationwide. For example, Lurie Children Hospital and Rush Hospital primarily accept employer sponsored plans or Medicare and Medicaid. Marketplace plans are not accepted at Rush University. Northwestern Hospital only accepted BCBS IL PPO and HMO Precision from the Marketplace.
Did you know that Illinois Small Business Health Plans can be offered to out of state employees? 💡
If you have a small business in Illinois, your group health coverage can be offered to out of state employees. In addition, Illinois employees can benefit from national PPO network nationwide.
Did you know that Illinois Small Business Health Plans offer Platinum tiered plans? 💡
Illinois Small Business Health Plans have different metal tiers from Bronze, Silver, Gold, and Platinum. Illinois Small Business health plans with low deductibles as low as $0 and coinsurance of 10%.
Case Study Summary: Maximizing Savings and Efficiency Through Group Health Plan Enrollment
Background:
Sarah Thompson, a thriving bakery owner in Springfield, Illinois, sought ways to manage escalating health insurance costs for herself and her employees while optimizing tax benefits.
Solution:
Sarah engaged with Smart Insurance Agents, a local agency specializing in small business health insurance. With their expertise, she discovered the advantages of a small business group health plan tailored to her needs.
Enrollment Process:
Smart Insurance Agents efficiently matched Sarah with a suitable group health plan. Their seamless enrollment process ensured a hassle-free transition to the new plan.
Results:
Sarah experienced substantial tax savings, enabling her bakery’s growth. The comprehensive coverage of the plan boosted employee satisfaction.
Testimonial:
Sarah praised Smart Insurance Agents’ exceptional customer service, efficient process, and money-saving solutions.
Conclusion:
Sarah’s success story exemplifies how partnering with experts like Smart Insurance Agents can lead to significant savings, swift enrollment, and improved benefits for both small business owners and their employees.
