Group health insurance for small businesses
Dealing with right health insurance agent can help you find the right plan for company or business. As an employer there are many good reasons to consider group health insurance that you can offer as a benefit to your employees. If you are looking for affordable group health insurance in Angola, Auburn, Bluffton, Fort Wayne, Huntington or Kendallville, IN then the Health Insurance Shop can help. As a health insurance agent they have access to a variety of group health plans from many different carriers. They can help you find the best rates and the best plans to meet your group health requirements.
Group health insurance is a key benefit that an employer can offer to employees as an incentive. Group health insurance can cover you and your family and work out cheaper than individual health insurance. This is because this type of plan is subsidised by the employer. An employer will also get better rates on a group plan than an individual can get on his or her own. Premiums are also paid on a pre-tax basis resulting in significant tax breaks.
Small employers are not legally required to offer group health insurance but many choose to offer such plans as it helps small business attract top employees and also helps to reduce staff turnover. Group health schemes for small businesses have to conform to certain requirements as laid down in the Affordable Care Act.
Small group health plans are categorised according metal levels such as platinum, gold, silver and bronze. In this case platinum will be the strongest plan and bronze will have the least benefits. Platinum plans are more expensive but offer greater coverage and pays the highest proportion of medical costs. COBRA coverage also entitles a worker to retain group health benefits in the event of job loss or job change.