How to Find the Right Small Business Health Insurance

Small business owners face considerable challenges obtaining the right health insurance for both themselves and their employees. According to the Small Business Health Insurance Network, more than 60 percent of people working in the United States utilize group health insurance plans which are sponsored by their bosses. Many employees see healthcare as the most important benefit they have as a result of working for a company. Small businesses which advertise the fact that they offer group health plans will appeal to a wider range of job seekers. If you take your time when doing your research to compare various health coverage plans, and choose the plan with the lowest rates and terms you can find the right small business coverage.

Instructions

• 1

  Research group plans that may be open to you. Contact groups such as the chamber of commerce in your city, and other organizations which focus on a specific business niche to see if they offer health plans for their members. Some states and municipalities allow small businesses to join their group pools, and this can be a very cost effective option if it's offered in your location.

• 2

  Talk to an insurance agent. The small business market is highly complex, and you may well need the advice of an insurance professional to navigate it. Ask other local businesses for recommendations on a good independent agent. Gather all of the information you will need such as the number of workers you have, and the type of coverage in which you are interested, which can include dental and optical care.

• 3

  Compare the different plans which you are offered. Call the quote providers directly, or find a service which has online chat capability so you can discuss your questions in real-time. Understand that the cheapest plans are often the ones which require patients to see only a certain group of doctors in their specific network. Ask about deductibles, co-pays and other ways to lower premiums.

• 4

  Look at health insurance plan reviews. Contact your state insurance department to see how the companies you're considering are rated. The department will have a list of all the complaints filed against particular companies, and how these were resolved. This can give you a good picture of whether you'll be buying into a good, trouble-free plan or not.

• 5

  Consider a Health Savings Account (HSA). HSAs can be enjoyed by both bosses and employees because contributions are not subject to the payment of taxes, employees determine how much money they want to give to their own individual HSA, and each account is the responsibility of the account holder. Offering this option allows employers to contribute to the accounts of their workers, in order to help them with the high costs of health care, and it can be a flexible tool for small businesses.