Small Business Health Insurance Companies – Health is wealth. Sick days and absences have a major impact on the productivity of your employees. In turn, this can take a toll on your business revenue. If you want your employees to always have good health, you should provide them with good health insurance. This is a rather desirable benefit after all.
If your income is not that high, you can still provide your employees with the best coverage in the market. All you have to do is consider any of the lists below.
Small Business Health Insurance Companies
Many health insurance companies promise great coverage among many other things. But before you make your final decision, it’s best to keep these factors in mind:
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Businesses with fewer than 50 employees are not required to obtain group insurance. While this is the case, this benefit can help you attract more new talent – and keep the good ones. As with bulk purchases, the number of employees can determine how much you have to pay. Having said that, you need to compare several companies as this will help you get the best value for your money.
You need to capture a holistic picture of your employees’ health. You can do this by gathering information about their age, health status, and how often they visit the doctor. For example, if most of your employees need to visit the doctor periodically, this may encourage you to choose a service with higher premiums but lower co-payments, etc.
Cheaper plans usually have limited network coverage. If you live in a rural area, you may have to drive several hours to see a doctor in your insurance system. Remember, you want your employees to get the best care they deserve without having to drive far.
Besides offering more provider choices, a plan with a wider network is also cheaper in the long term. A larger network means a higher likelihood that your doctor will be in the system. This means less co-pays for counseling and what not.
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Medication coverage is a service that is commonly used in health plans. Therefore, you should check the insurer’s prescription drug coverage. Combining this with employee medication can help your employees a lot.
As long as your employees are interested, why not take advantage of other services as well? For one, you should consider vision and dental plans, among many others. This may entitle them to discounts, preventative care and other attractive benefits.
Is the plan too good to be true? Well, maybe it is. Before registering your market, do your research first. Ask similar companies that have received the services of the insurance provider. How long have they been involved with the company? Do they pay claims quickly enough? These questions can help you decide if the cheapest price is worth your money.
Once you determine the company’s ability to pay, you can move on to the next chapter: miscellaneous expenses. Here are the fees you and your employees will need to manage:
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The real insurer is the plan underwriter. The best way to avoid a scam is to call the insurer yourself to check their affiliation with the plan provider.
You can also call the state insurance department and ask for their AM Best rating. It determines the company’s ability to pay claims. You can also refer to Standard and Indigent Claims Rating – Ability to Pay. If the service provider doesn’t have any of these, you may need to switch to your next option.
In addition to providing adequate health care coverage, a good insurer must be able to comply with state regulations. You can check the status of the company by contacting your state’s insurance department.
Blue Cross Blue Shield Insurance Company is all about providing smarter and better healthcare services to all employees. It works to improve care in communities, improve network solutions, personalize worker engagement, and innovate new projects.
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For businesses, Blue Cross Blue Shield offers group plans that include ambulatory care services, emergency care, hospitalization, maternity, and newborn health care, mental health services, prescription drugs, rehabilitation, diagnostic procedures, chronic disease care, and dental coverage pediatric. included.
United Healthcare is about creating healthy businesses. After all, it is important to recruit new employees and retain old ones. At the same time, it can improve productivity and worker satisfaction.
With United Healthcare, your business is eligible for lower rates (varies by region). With its many offers, you can choose any of the plans available:
The company also offers group benefit plans that cover dental and vision services. For one, the company’s dental plan comes with 100% preventive care coverage, prenatal or orthodontic care, and oral cancer screening.
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For its vision plan, employees can enjoy coverage of most eye care costs, the frame allowance, and contact lens benefits, to name a few.
Insurance pricing depends on the plan, number of employees, and location. You can request a quote through the official website.
Humanais is a health insurance provider based in Louisville, Kentucky. Founded in 1961, the company prides itself on pursuing healthcare innovations and improving community well-being.
Included in their wide range of services is small business health insurance. Designed for companies with 2 to 50 employees, Humana Insurance strives to keep employees healthy – and their businesses productive.
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Its benefit plans include 4 types. The most famous is its medical plan, which comes with the following packages:
Humana also offers level-funded premiums designed specifically for small businesses. It offers account savings on administrative services only with predictable fees. As a bonus, it also comes with fun fitness programs.
Aetnais is a managed healthcare enterprise based in Hartford, Connecticut. Founded in 1853, it sells traditional and consumer-oriented health care plans. For employers, Aetna offers cost-effective insurance plans that cater to small businesses.
One of its offerings is the Aetna Funded Advantage health plan. Like large group insurance, this plan comes with high-cost claims protection, additional sharing, and lower taxes. With this package, you can enjoy the following features:
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Kaiser Permanente is a California-based managed care consortium. Founded in 1945, it operates in 8 states – plus the District of Columbia.
For small businesses, Kaiser Permanente offers health insurance plans that offer great coverage and convenience – at a reasonable cost. Depending on your preferences, you can choose from the company’s 6 offers:
With predictable and consistent fees, you don’t have to pay for deductibles. Despite its low co-payments, you don’t have to worry about filling out claim forms and what not.
Compared to a traditional HMO, it has a wider range of deductibles. Premiums, however, are cheap. It can be used in conjunction with a Health Reimbursement Arrangement (HRA) or Health Savings Account (HSA).
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Here, you can use your tax-free money to pay for healthcare services. While HRAs offer more flexibility, HSAs provide employees with a greater locus of control.
It comes with tax-deductible funds for business owners and tax-free funds for workers. At the same time, employees benefit tax-free from certain out-of-pocket expenses. Like a deductible HMO, it is cheaper than a traditional HMO.
This scheme provides a comprehensive service within and outside identified areas. With its single-carrier administration features, it enables employees to have diversion-free access to any service provider.
If your employees want flexible services at a reasonable price, this is a good deal. It is a marriage between a traditional Kaiser Permanente HMO and a point-of-service package. Although it comes with limited options, the premiums are obviously cheaper.
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Cignais is a healthcare organization created in 1982. Based in Bloomfield, Connecticut, it offers health insurance plans that offer the right combination of benefits and services.
Oscar Health is a technology-focused insurance company based in New York. Founded in 2012, it has partnered with Cigna to provide health insurance to small businesses. It is one of the most affordable insurance providers in the country, with prices starting at $611.
So how does Oscar Health make this possible? In one case, he sends a doctor on call for free. Employees can check in with physicians for 15 minutes and get the advice and prescription they need. No waiting, and most importantly, no co-payments burning through the wallet.
Oscar Health members also get access to the free Darbar service, a service where every employer and every employee gets their own nurse. If there is any concern, the member can contact the team immediately.
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Another great thing about Oscar Health is that it requires no referrals. It is not necessary to visit a primary care doctor to obtain certain documents. Subscribers go directly to experts.
As a technology company, Oscar Health makes benefit management easy with its intuitive tools. With this portal, employers can make payments, browse plans, add or edit or remove employees.
Health Net LLC is a division of Centene Company. This managed care company offers small business health insurance in the states of California, Arizona, Washington and Oregon.
Its plans, called Small Groups 2.0, are available in 4 levels. There is a difference between what the employer and the insurance company pay.
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Their full HMO comes in platinum ($10, $20, $30), gold ($30, $35, $40), and silver ($50). Single payer prices range from:
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