Why Is Small Business Health Insurance Worth It?

by: Jeff Schuman
If you’re looking for a guide to how to get health insurance andwhat kind of health insurance is best for your small business,then this is the article for you. Your business qualifies forsmall business health insurance if you have anywhere between twoand fifty employees in it. If you are self employed then you’llwant to look into getting self employed health insurance.There are many benefits to getting small business healthinsurance. A small business health insurance plan will helpspread the financial risk around to everyone and not justyourself. As this is the case, this generally will bring lowerpremiums and more extensive coverage. Along with this, thehealth insurance provides medical care for you and all otheremployees as well.With a small business health insurance people often get groupinsurance. This too has its advantages on several differentaspects. All contributions from the employers are 100% taxdeductible, and you’ll save on payroll taxes as well. Smallbusinesses will be eligible for group insurance just as long asyou have two or more full time employees working.When setting up a group insurance plan for your small business,all members will be set up with a coverage plan with ratescalculated using the group and individuals. After that it is upto the separate employees themselves if they wish to add ridersand additional coverage to satisfy their needs. Keep in mindthat not all employees in the small business have to join thegroup plan. Just as long as there is no fewer then twoemployees in the business that have the group insurance plan,then you will be fine.The cost of the group insurance plan varies based on severaldifferent characteristics. Some of these include age, healthstatus, business and/or residential location and so on. Likeeverything in this world it’s not going to be cheap, but it willbe cheaper then having a bunch of separate health insuranceplans. Most health plans are going to require employees to pay at leasthalf of the premium cost for covered employees. Some employeeswill offer to pay 100% of the cost, white now there is a newhealth plan giving employees the option to pay as little as 25%of the cost. Just know that typically most types of coveragewill cost employees a minimum of $1,600-$2,500 per year peremployee. By clicking on the link below you can begin gettingquotes for your small business health insurance. http://www.buyerzone.com/benefits/health_insurance/qz_questions_2.jhtmlJust remember that many times medical services are neededunexpectedly. If you or other employees do not have healthinsurance this could be a devastating blow to the wallet. Thecost of a hospital visit, depending on the circumstance, willmany times be much higher then the cost of health insurance. You want to be able to live life knowing that you’re insuredjust in case the unexpected happens. Nothing hurts to at leastlook at some quotes and talk it over with other employees, butyou have the power to make the decision.