Small Business Archives - Healthedly Insurance Services

Affordable Small-Group Health Options

General, Group Insurance Plans, Small Business

Small business owners are always looking for ways to cut costs and save money. One area where many small business owners struggle is with providing health insurance for their employees. The cost of health insurance can be prohibitively expensive for small businesses. However, it’s an important benefit that helps attract and retain employees. In this blog post, we will explore some affordable small-group health insurance options. These options can help small business owners provide this important benefit to their employees without breaking the bank. From government-subsidized options to alternative insurance models, there are a variety of options available for small businesses looking to provide health insurance at a reasonable cost. So, if you’re a small business owner looking for ways to offer health insurance to your employees without overspending, read on to learn more about the options available to you.

What is small-group business insurance?

Small-group business insurance refers to insurance policies specifically designed for small businesses. Small businesses usually have fewer than 50 employees. These policies typically include coverage for things like property damage, liability, and workers’ compensation. Some small group business insurance policies may also include coverage for things like a business interruption. This can help a business recover from lost income if forced to close due to a covered event. Additionally, many small group business insurance policies can be customized to meet the specific needs of a particular business. For example, a policy can offer coverage for specific types of equipment. Or, it can provide extra protection against certain types of risks. Overall, small group business insurance can provide peace of mind and financial protection for small business owners. Thus, this helps them to secure their businesses and protect their assets in case of unexpected events.

How does small-group health insurance work?

Small group health insurance works by providing a way for small businesses to purchase health insurance coverage for their employees. The employer typically purchases small-group health insurance policies. The employer then offers the coverage to their employees as a benefit. Moreover, the employer usually pays a portion of the premium and the employee pays the remaining portion. This is either through payroll deductions or direct payments.

The insurance company then provides coverage for the employees, which includes things like doctor’s visits, hospital stays, and prescription drugs. The specific coverage and benefits provided by a small group health insurance policy will depend on the policy itself. It will also depend on the insurance company offering it.

However, most policies will include coverage for basic medical needs like doctor’s visits, prescription drugs, and hospital stays. Additionally, many small-group health insurance policies can be customized to meet the specific needs of a particular business. This can include coverage for specific types of medical treatments or extra protection for certain types of risks.

Affordable small business health insurance plans

Affordable small business health insurance plans are insurance policies that are specifically designed for small businesses. These plans also offer coverage for the health care needs of their employees at a reasonable cost. There are a variety of options available for small businesses looking to provide health insurance at an affordable price. Some affordable small business health insurance plans include government-subsidized options.

For example, the small Business Health Options Program (SHOP) marketplace helps small businesses purchase health insurance. Other options include alternative insurance models, such as health-sharing plans. These plans are a cost-effective alternative to traditional health insurance. They allow small businesses and their employees to share in the cost of healthcare. Additionally, many insurance providers offer customizable plans that cater to small businesses needs and budgets.

There are a variety of options available for small businesses looking to provide health insurance to their employees without overspending. It’s important for small business owners to research and compare different options. This way, it is possible to find the one that best fits their needs and budget.

How can a business get small-group health insurance?

A business can get small-group health insurance by working with an insurance broker or agent. Or, by visiting a health insurance marketplace, or directly contacting an insurance company.

Working with an insurance broker or agent can be a good option for small businesses. They can help find and compare different insurance options based on the needs and budget of the business.

A health insurance marketplace, such as the Small Business Health Options Program (SHOP) is another option. The marketplace allows small businesses to purchase health insurance coverage for their employees. It also offers the benefit of government subsidies to those who qualify.

A business can also directly contact insurance companies and request quotes for small-group health insurance plans. It is important to compare different plans and options. This will help in the search to find the one that best fits the needs and budget of the business. Some states also have their own health insurance marketplaces that small businesses can explore.

The business ought to ensure that the plans they are considering comply with the Affordable Care Act (ACA) requirements. It also ought to ensure that the insurance company is licensed to sell insurance in the state where the business operates.

Do you need small-group health insurance?

Small-group health insurance is an essential benefit that small businesses can offer to their employees. It helps attract and retain employees. It also provides peace of mind and financial protection in case of unexpected health events. However, the cost of health insurance can be prohibitively expensive for small businesses. Fortunately, there are a variety of affordable small-group health insurance options available, and that’s where Healthedly comes in!

Healthedly agents can answer your questions regarding small-group health insurance plans you may be eligible for! So what are you waiting for? Give us a call at 855-522-2201.

February 1, 2023

Does Your Small Business Have to Provide Health Insurance?

Group Insurance Plans, Health, Obamacare, Small Business

With Open Enrollment upon us, many individuals and families access the health insurance market seeking the right coverage.

If you are a small business owner, you may be wondering what to expect and what to prepare for as far as supplying your employees with health insurance. You may also be wondering what qualifications you need to meet and what you need to expect as an employer providing benefits for your employees.

Here is what small businesses should know about health coverage for employees.

1) How big is your small business?

Is your company an “ALE”? An “ALE” is an Applicable Large Employer with over 50 full-time employees. If your company is an ALE, you will need to start offering insurance to your employees. If your business does not qualify yet as an ALE, you do not need to offer insurance. However, such a benefit could be an incentive to future employees, and help grow your company.

2) Full-time or part-time employees?

If you have 50 employees or more and they are full-time employees or full-time equivalents, your company would be an Applicable Large Employer. Moreover, at least 50 of your employees need to be full-time equivalents to make you an ALE. If you have 25 full-time equivalent employees and 25 part-time employees, you need not offer insurance benefits.

3) Advantages of offering health insurance as a small business owner

Offering health insurance to your employees offers quite a few advantages that you might have not thought of yet:

Providing health insurance could be an incentive for employees to stay at your company.

Health insurance for employees could give your company a competitive edge and give you the opportunity to stand out among other employers. Adding health insurance as part of a benefits package can help you as a business owner recruit and retain great employees!

4) What about the “Family Glitch”?

Recently, the “Family Glitch” resolved in favor of families seeking health coverage sponsored by employers. In past years, many families fell through the cracks of the healthcare system. Only the employee could afford insurance sponsored by the employer. But the employee’s family members could not afford that coverage. This year, the Biden administration resolved this “Glitch” in the 2013 ACA law. Now, families can access full coverage with employer-sponsored health insurance or through the individual market if dependent coverage is deemed unaffordable.

Are you a small business looking for group plans and coverage for your employees? Reach out to Healthedly to get a free quote and answers to any other questions you may have. Call 855-522-2201 for more information!

December 6, 2022

Best Health Insurance for Small Business Owners

Health, Life Insurance, Small Business

A pediatrician examining a young girl who is holding a teddy bear

Running a small business is hard, and navigating getting your employees health insurance can really be a hassle. Especially if you don’t have experience or a trusted advisor. With that in mind, we’ve crunched the numbers. We’ve come up with the best group health insurance plans for small businesses.

We want to make sure you have as many health insurance options as you can get. You should know the plan options and the health benefits available to you. We also want you to know how to provide your small business’s number of employees health care that will be good for them.

#1. UnitedHealth care

Why Get It: Coverage in all 50 states, largest health insurance provider in USA

When it comes to the best small business health insurance plans, everyone trusts UnitedHealth care. That’s why they’re the largest health insurance provider in the United States. They have coverage options in all 50 states. This makes them even more attractive if you’re a business that operates remotely but wants to have a single health insurance plan.

They have a national network of doctors and hospitals, making them one of the most accessible insurance organizations. On top of this, UnitedHealth care is moving hard into the digital realm with consultations over computers and mobile. Hence, this lowers costs for the insured.

#2. Blue Cross and Blue Shield

Why Get It: Coverage specialized to your area through local health insurance agencies

Blue Cross and Blue Shield is an interesting one, because they work through 36 different local health insurance companies. This makes them more tied to specific geographic areas and leads to a more targeted view of business. Like United HealthCare, Blue Cross and Blue Shield are available in all 50 states, and it is the most popular plan on this list: one in three Americans is covered under the Blue Cross and Blue Shield (BCBS) Association.

#3. Humana

Why Get It: Specializes in small business healthcare

Humana is a very large health insurance company, and is on this list because they make a concerted effort to offer health insurance to small businesses. Some of the perks of Humana Small Business include in-network preventive care, 100% covered by all Humana group plans. They also offer telehealth visits, and the Humana Pharmacy

#4. Aetna

Why Get It: High-deductible plans with tax advantaged savings options

Aetna is a long-standing pillar in the health insurance community, and they offer something very attractive to small business owners: high-deductible health insurance plans with tax-advantaged savings options.

Known especially for their good customer service–something that’s hard to find in an insurance company–their large provider network of more than 700,000 providers gives you access to every kind of care you need.

The downside is that Aetna is not available in every state, and you usually can’t get a quote without an Aetna sales rep walking you through the options.

Choose the best Small Business Health Insurance for you

If none of the above are the right fit, no worries, we have other options for small business health insurance. Now is the time to get to know plan options for your employees.

Still looking for the right Health Insurance Plan? Browse our plans here.

November 18, 2022

How Cleaning Reduces Workplace Illness and Health Care Costs

Flu Season, General, Health, Health Resources, Small Business

How cleaning reduces workplace illness and health costs

Making sure to keep your work environment sterile helps to reduce workplace illnesses and healthcare costs in several ways:

Removing germs and contaminants:

Regular cleaning can help to remove germs and contaminants from the workplace, which can help to reduce the risk of illness. This is particularly important in the current COVID-19 pandemic. The virus is easily spread through respiratory droplets.

Improving workplace air quality:

Regular cleaning can also help to improve air quality in the office by removing dust, pollen, and other allergens that can contribute to respiratory problems.

Reducing absenteeism:

When employees are sick, they are more likely to be absent from work. By reducing the risk of illness in the office, cleaning can help to reduce absenteeism, which can in turn help to reduce the cost of lost productivity.

Reducing healthcare costs:

By reducing the risk of illness in the workplace, cleaning can also help to reduce healthcare costs. This is because individuals who are healthy are less likely to require medical care. This can help to lower overall healthcare costs.

Overall, maintaining a clean workplace can help to create a healthier and more productive environment. This can help to reduce workplace illnesses and healthcare costs.

Are you a business owner seeking a group plan for employee coverage? Healthedly should be your first and last stop. Our agents will send you a free quote and answer any questions about enrollment that you might have! Give us a call at 855-522-2201!

November 2, 2021