Health insurance is one of the most important benefits a company can offer its employees. In some cases, the only reason that a person works in a company is obtaining a health insurance coverage. Even companies with just two or up to 50 employees can provide health insurance through group plans designed for small businesses and are available in most states.
Eligible for Small Businesses
Learn about the options that are available to qualify as a small business in your state. The most common designation is for a range of 2 to 50 employees, but other restrictions may apply. Contact the State Insurance Department or a trusted insurance agent to learn about the specific requirements to qualify as a small business in your state.
Provides the physical address of the location where the company holds. For companies that operate in several states, the location of the headquarters is the state in which you must meet the requirements for small business health insurance.
Be prepared to provide proof that your small business meets the eligibility requirements. You may be asked for payroll records, your employer identification number or other documents that support your right to obtain a group health insurance policy for a small business.
Note that some states allow collective medical insurance providers for small businesses requiring a waiting period for pre-existing conditions before complete coverage. This can occur when the employee has not been covered during the previous 6 months.
Evaluates group insurance plans for small businesses according to the rate increase is possible for increased health risks. Most insurance companies have established limits for group plans for small business and must charge within those guidelines.
Meet the requirements of Federal Insurance Portability and Accountability Act (Health Insurance HIPAA, for its acronym in English) to provide health insurance coverage by visiting the website of the Department of Health and Human Services United States.
Ask the insurance provider about the type of policy options for care. Your choices will probably be a plan of Health Maintenance Organizations (HMO, for its acronym in English), Preferred Provider Organizations (PPO, for its acronym in English) or Point Of Service (POS acronym ). The cheapest option is probably the HMO plan, but your options for care are likely to be less flexible. A PPO or a POS plan will be more flexible, but also will carry a slightly higher premium.