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Can I Offer Health Insurance to Certain Employees?

by Tim AustinJune 18, 2018 8:00 AM

Health insurance comes with many responsibilities for small business owners. Regardless of whether you’re trying to cut health insurance costs or reward specific employees, you may wonder exactly how those responsibilities affect who you offer health insurance coverage. Can you pick and choose who can be a part of your health plan, or are there federal regulations involved? As you may expect, there are some rules you need to follow.

Employees at a company that offers group health insurance coverage.

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Small Business Health Insurance Requirements

by Tim AustinMay 31, 2018 8:00 AM

It’s not uncommon for small business owners to wonder exactly what their responsibilities are when it comes to health insurance. With all the uncertainty that can surround healthcare, it’s understandable that owners may be unsure of what the future holds, or what they need to do to make sure their business isn’t violating any legal requirements. Those requirements can depend on the size of your business and if you offer healthcare coverage.

To start, small businesses with 50 or fewer full-time equivalent employees are not required to offer health coverage. However, these businesses are still required to provide a report about healthcare information to employees. This reporting should cover certain information about the marketplace, such as what it is and how employees can contact the marketplace

Despite it not being mandatory, many small businesses with fewer than 50 full-time equivalent employees still make the choice to provide workers with health insurance because quality healthcare coverage can help businesses attract and retain top talent. This decision can be very beneficial, but it does mean that small business owners will need to take on a few new responsibilities.

A doctor helping an employee with small business health insurance coverage.

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How Group Health Insurance Premiums Are Calculated and How You Can Manage Them

by Tim AustinSeptember 5, 2017 8:00 AM

Small business owners weigh many factors when deciding whether to invest in a group health insurance plan, but oftentimes the decision comes down to dollars and cents. The Kaiser Family Foundation’s 2016 Employer Health Benefits Survey notes that the high costs of insurance premiums are the primary reason why firms won’t offer health benefits. Even for business owners who do offer plans, rising insurance premiums can create a lot of stress and confusion, especially if the owner doesn’t know how these premiums are calculated and how they can manage them.

Employers can have many questions for group health providers, and that includes exactly how much they can expect to spend. Here’s a rundown on what the insurance industry uses to calculate your group health insurance coverage premium, as well as some strategies that can lead to lower costs.

Image of group health insurance plan premiums for small business owners.

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Questions that Small Business Owners Should Ask a Group Health Insurance Provider

by Tim AustinAugust 29, 2017 8:00 AM

It’s always a good idea to get more information. For a small business owner, that extra information can be the difference between finding the right group health coverage for your business.

Even if you have a good grasp on the basics of group health insurance, it doesn’t hurt to ask a provider a few important questions before you purchase a plan for your business. Here are some key things that you should ask a provider about group health insurance coverage.

Image of a group health insurance provider answering coverage questions for a small business owner.

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Group Health Insurance Basics for Small Business Owners

by Tim AustinAugust 22, 2017 8:00 AM

Managing health insurance for a business can get complex in a hurry, especially if you’ve never dealt with group plans before. When it comes to offering healthcare coverage, you’ll quickly find that not all health insurance plans work the same way. 

Instead of getting overwhelmed, it’s a good idea to step back, take a breath, and start with the basics. Let’s go over what you should know about group health insurance before you start offering plans  to your employees.

Image of financial documents for group health insurance coverage. 

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