Small Business Insurance Plans

Small Business Insurance Plans-89
Even though you are not legally required to purchase health insurance for a single employee by law, there are still great reasons to offer health benefits. Small business health insurance is medical coverage that helps you pay for general medical care, routine physicals and health exams, surgeries, and medical emergencies.In addition to attracting quality applicants for your position, your business also runs better when your employee is happy and healthy. Here is a quick rundown on procuring health insurance for both yourself and your employee. Each health insurance plan is a unique combination of options that run the gamut between deductibles and no deductibles, copays or no copays, and choices about medical providers. But it’s not legally required if you only have one employee.

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Before you call an agent or a broker, make sure you have gathered and prepared the proper documents.

Most often, you’ll need to provide your: Step #4: Start Shopping Whether you pass along your information to a broker or head to the SHOP site or other online sites for your state, now you’re ready to actually start shopping.

If you have one employee as defined above (a person whose workload you control, who puts in at least 30 hours, and who is not your spouse), then you absolutely can enroll in group health insurance with one employee.

If you have between 1-50 employees, the government’s Small Business Health Options Program (SHOP) group health plans are available to you.

If your business is not an ALE, then supplying health care for your employees is a choice.

So as a small business owner with only one employee, you are provide it doesn’t mean you should overlook health insurance as an option.)Step #5: Compare Quotes Study the numbers and look at the plans.Sometimes the cheapest plan may not be in your best interest as a small business owner.Here’s a break down of the recent health insurance laws and what they mean for small business.In 2010, the Federal Government passed the Affordable Care Act (ACA) and through that health care mandate, over twenty-million more Americans have had access to health insurance who didn’t before.This will play a large role in which business insurance plan you choose.It’s vital to know exactly what you are paying for and what you might be asking your to pay for.Decide if you are going to include ancillary insurance options like dental and vision to the policy.Step #3: Gather The Proper Documents To receive an accurate health insurance quote from an insurance broker, you’ll need to provide some numbers and documentation.Step #2: Know What Plan & Benefits You Need What kind of coverage are you hoping to offer?Go prepared to your first meeting with a provider or broker with an idea of what kind of policy would benefit your employee the most.


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