Small Business Group Health Plans: Benefits, Cost, & Eligibility

small business

What is a Small Business or Small Group Health Plan?

A small group health plan is a medical health insurance policy purchased by a small business that have 50 or less employees. The group health plan rates can be age rates or group rates. Age rates or member level, means that each employee will have a rate based on the age bracket they fall in. Whereas, group rating will have rates based on the average age of the employees (group).

The small business health plans follow the ACA (Affordable Care Act) rules. Which means an insurer (insurance company) can not use the groups medical history or previous medical claims to increase rates. The insurance company will have rates based on location, age, and tobacco usage. In addition, a small business owner who has less than 20 employees do not need to have COBRA offered to their employees when they are terminated from the group. Also, the employer is not obligated to contribute towards the spouse and dependents premiums.

 

What Are the Benefits of Offering Health Insurance in a Small Business?

Small businesses have always faced challenges with employees retention and attraction. With the inagural of the COVID-19 pandemic, the struggle to retain employees have wrosened. There are many reasons why employee prefer to work at  mid to large size employer, one of which the health benefits they receive from the employer. Health insurance could be very costly and unaffordable in some cases, especially if the individual is not eligibile for subsidies or Advanced Premium Tax Credit.

According to a survery we conduted randomly and anonymously last year, many employees had to change their employer due to lack to benefits or for better health insurance plan offering. So as a small business, one way to retain your employees and attract more talents, is to offer a durable and affordable health coverage to your employees.

Besides increased talent attraction and higher employees satisfaction, offering a group health plan allows you to write off the premiums as a bsuiness expense at the end of the year. 

 

Why Should You Offer Health Insurance?

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Employee Retention

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Talent Attraction

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Increased Productivity

What is the Eligibility for a Small Business Health Plan?

If your business have between 2 and 50 full time employees, you likely qualify to purchase a small business health care coverage plan. Here are the common requirement for a small business to be eligible for a small group health insurance. Or see if your small business qualifies for SHOP.

  • At least two full-time employees, including the owner.

  • A certain percentage of your employees must enroll in the health plan you offer.

    • Minimum participation requirement s vary by state. Some carriers, like Blue Cross Blue Shield waive this participation requirement if  you purchase a group health plan between November 1 and December 15 for a January 1 or January 15 effective date.
  • Employers must meet minimum contribution requirements

    • It is required that business owners contribute a certain amount to their employees’ monthly premium costs to qualify for group coverage. if  you purchase a group health plan between November 1 and December 15 for a January 1 or January 15 effective date.

How it Works?

Very simple. Fill out the Group Health Quote Form below. We will get back to you the same day, next day by max with rates and quotes with different carriers. Once you get a chance to over the different options, will get on the phone with you to answer any questions to you may have. The rest is on us, your group will have coverage as early as the 1st day of the following month.

What Insurance Carriers are Available?

We work with all insurance carriers that offer group plans in your area. Since we are an independent agency, we are not captive to any insurance company. When we send you a quote, we will include rates for all available carriers. The goal is to choose the most feasible and affordable plan for your group.

Can I Offer Group Dental & Vision Plans?

Yes. Absolutely. You can offer Dental and Vision plans to your employees and their dependents with the same carrier as your health plan or even a different carrier. For example, you can offer Health with BCBS, Dental with Delta Dental and Vision with VSP.

Group Health Quote
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Download Group Health Info Template
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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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