Ainee Hales

Hi! I am Ainee Hales an expert in Insurace Industry and I am working in this Industry for last 5 years. I am not the owner of the content published here. This content is only for knowledge purposes. This content belongs to their respective owners and I do not hold any right for this content.

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What does CHIP covers?

CHIP provides low-cost wellness coverage to kids whose families can’t easily manage health care but aren’t poor enough to qualify for Medicaid. CHIP insurance pa programs cover children from birth through age 18 who have no additional health coverage and are not qualified for Medicaid. As each state has its CHIP program, the specific benefits provided vary from state to state. However, all states embrace the basics, including routine care, doctor visits, immunizations, emergency services, prescription medicines, etc.

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How Group Health Insurance Can Lower Your Premiums

Health insurance is one of those expenses that you wish you didn’t have to pay. However, due to the Affordable Healthcare Act or Obamacare, you have to. People who do not have any insurance must pay a penalty that was ruled as a tax by the SCOTUS. ​ To be honest, insurance is a good idea because it is a kind of savings which you will draw upon when the unthinkable happens. Here’s how you can lower your insurance premiums by getting group health insurance. 

How Does Insurance Work?

The easiest way to understand insurance is that the insurer gets money from all the insured and puts it in a common pool. The common pool will be used to pay one of the insured if the harm insured from happens. For example, if you have an accident insurance it will cover up to a fixed amount in hospital bills. To subscribe to the insurance, you will pay $500 a month. In practice, there will be thousands, if not millions, of people paying the same premium. The odds that anyone will get into an accident is very low. The odds that all or even half the subscribers will get into an accident is close to zero. Only a small number of insured will ever make a claim. So the insurer still profits on the payments of premiums. Insurance Pools

A key metric for keeping insurance inexpensive is the pooling of people. For instance, Young people are at peak health and unlikely to suffer from diseases. Hence their premiums are low. People 65 and above are likely to place claims on their health insurance. If you want low-cost insurance form a pool of people who are healthy and don’t appear to have health risks. The insurer will check with his underwriter and actuary to determine the risk, it should be low, that the insured will need their insurance shortly. The premium will be low because the risk is low. The insurer will happily take your money. He will invest it somewhere so that it can grow so it can support you when you actually need it. As a matter of fact, before the ACA a lot of insurance providers worked out like this. They offered “individual insurance” that was actually group insurance for a larger cohort of people.

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What is Medicare?

If you ask me what is Medicare? Then the perfect answer would be, Medicare is the federal government program that provides health care coverage if you are 65+, under 65 and receiving Social Security Disability Insurance (SSDI) for a certain amount of time, or under 65 and with End-Stage Renal Disease (ESRD). The Centers for Medicare & Medicaid Services (CMS) is the federal agency that runs Medicare.

Once you have become Medicare-eligible and enroll, you can choose to get your Medicare benefits from Original Medicare, the traditional fee-for-service program offered directly through the federal government, or from a Medicare Advantage Plan, a type of private insurance offered by companies that contract with Medicare (the federal government).

Most people join the Medicare program after turning 65 years old, or when they retire and leave their group health insurance.

Your Medicare Coverage is Comprised of Four Parts:

Original Medicare consists of Part A and Part B. Together they provide the basis for your health insurance coverage.

Part A – This is commonly known as hospitalization insurance. This mostly covers the cost of your time in the hospital (inpatient care), skilled nursing facility care, hospice care, home health care, and more.

Part B – This helps cover your doctors visits and other services including: outpatient procedures, x-rays, lab tests, and preventative services.

Part C – These plans are offered by private insurance carriers who have a contract with Medicare and are required to offer the same benefits as Original Medicare. You may enroll in this option to replace your “Original Medicare” (Part A and Part B) and many times it will include your Part D prescription drug coverage.

Part D – This is your prescription drug coverage. This is offered to everyone with Medicare. Most Part C plans cover prescription drugs; however, you may be able to add drug coverage to some plans, if they are not already included.

What is covered by Original Medicare?

The combination of Parts A & B of Medicare make up what we call “Original Medicare”.

The combination of Parts A & B of Medicare become our basic hospitalization and medical coverage while on Medicare. This foundation of coverage is usually complemented by either electing a Medicare Supplement, or Part C Advantage plan.

What is Covered Medicare Part A

While Medicare Part A is often referred to as hospital insurance since it covers your care while in a hospital. It will also cover some care in nursing facilities, assisted living, home health care, and hospice.

In general, Part A covers:

·      Hospital care

·      Skilled nursing facility care

·      Nursing home care (as long as custodial care isn’t the only care you need)

·      Hospice

·      Home health services

·      And more

What is Covered Medicare Part B

Medicare Part B is medical insurance and covers services such as Doctors, X-rays, lab tests and other outpatient services.

In general, Part B covers:

·      Outpatient care

·      Lab tests, X-rays, and blood work

·      Ambulance services

·      Durable medical equipment

·      Some outpatient prescription drugs

·      Mental healthcare

·      And more

How much does Part A cost?

You usually don’t pay a monthly premium for Medicare Part A (Hospital Insurance) coverage if you or your spouse paid Medicare taxes while working. This is sometimes called “premium-free Part A.”

If you buy Part A, you’ll pay up to $458 each month in 2020.

Most people get premium-free Part A. You can get premium-free Part A at 65 if:

You already get retirement benefits from Social Security or the Railroad Retirement Board.

You’re eligible to get Social Security or Railroad benefits but haven’t filed for them yet.

You or your spouse had Medicare-covered government employment.

If you’re under 65, you can get premium-free Part A if:

You have received Social Security or Railroad Retirement Board disability benefits for 24 months.

You have End-Stage Renal Disease (ESRD) and meet certain requirements.

In most cases, if you choose to buy Part A, you must also have Medicare Part B (Medical Insurance) and pay monthly premiums for both.

Part B costs:

You pay a premium each month for Medicare Part B (Medical Insurance). Most people will pay the standard premium amount. However, if your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you may pay an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.

How much does Part B cost?

Most people pay the Part B premium of $144.60 (in 2020) each month, however consult the chart below if you have an individual income over $87,000 or joint income over $174,000.

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How Many Employees Do You Need To Get Group Health Insurance?

Group health insurance can often be less expensive than individual plans that offer the same benefits and coverage options. However, not everyone qualifies for group coverage plans. If you have a small business, you’ll want to determine whether you qualify for group health insurance before you apply for coverage. The following information about group health insurance for small businesses will help you make informed decisions about health insurance for you and your employees.

Number of employees matters

To be eligible for small business health insurance, a company must have between one and 50 employees. That is considered a small business for purposes of purchasing group health insurance. If you have more than 50 employees, you’ll need to:

apply for large group coverage

meet group coverage reporting requirements

meet minimum group health insurance standards

Type of employees matters

One of the employees on the group health insurance plan can be the employer or owner. However, at least one other employee who is not an owner must exist and enroll in the group health plan. That other employee must be someone who is:

Not an owner or employer

Not the spouse of an owner or employer

Not a family member of the owner or employer

Not a partner of the owner or employer

Not a seasonal worker hired on an impermanent basis, even if the person works full-time during that period

Usually not a contractor of the owner or employer (Contractors are typically not considered common-law employees because the business owner normally doesn’t oversee how the contractor does the job)

Who is considered an employee?

As the small business owner, you need at least one employee besides yourself to qualify for small business health insurance. Specifically, your workers must be full-time or full-time equivalent employees. To get group coverage, your employees must follow these guidelines set by the IRS:

Full-time employees are employees who work for you at least 30 hours per week.

Full-time equivalent employees are non-full-time employees, but who, in combination, are the equivalent of a full-time employee. For example, 3 employees who each work 10 hours per week are equivalent to 1 full-time employee for purposes of determining eligibility for small business group health insurance.

Your employees must also pass the common-law test.  According to the IRS, a person who works for you would pass the common-law test if the small business owner has control over both:

The work the person does

The way the person goes about doing the work.

A worker is thus considered an employee of your small business if you direct both work process and the finished product.

Other helpful facts about applying for small business group health insurance

You can offer group health insurance to part-time and seasonal workers if you wish. But it is important to understand, usually you must enroll at least 70 percent of your uninsured, full-time employees. If some of your employees have other individual or group health insurance coverage, they don’t count toward the 70 percent rule.

And there is a caveat to the 70 percent rule.  If you enroll in small business group health insurance  from November 15 to December 15 of the year, the 70 percent participation rule does not apply. You can be approved for small business group health insurance with fewer than 70 percent of your eligible full-time at this time.  

Applying for small business group health insurance during this period may be advantageous if you are concerned that one or more eligible employees will refuse health insurance coverage and disqualify the company from getting small business group health insurance.

Sole proprietors need individual coverage

If you’re the only one who works at your company, you’re actually a sole proprietor and don’t qualify for small business group health insurance (even if you take a salary and consider yourself an employee). 

If you are sole proprietor, you will need to look into options for individual/family health insurance. This is also the case if  you and your spouse are the only employees of the company. 

However, you may enroll your spouse as your dependent if you qualify for small business group health insurance because you have at least one other unrelated, full-time employee who participates in the plan.

Do you already have small business group health insurance?

Are you already a qualifying small business? Perhaps you purchased small business group health insurance in the past from a local broker or through your state Small Business Health Options Program (SHOP) marketplace Whether you currently have small business group health insurance or would like to have it, eHealth would like to help you explore your options and find the right plan for the right price. 

There is no obligation to purchase and no broker fees if you use eHealth. Feel free to use our  online tools designed to help business owners and individuals find the best plan to meet their needs. Or contact one of our licensed insurance agents for assistance.

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11 Key Lessons for Small Business Success

Experience comes from costly trial and error. Skip the costs and learn from these small business owners. This article is based on the compiled answers of entrepreneurs across the web. Here are 11 things that small business owners wish they knew before starting a business.

1. Start with more money than you planned on using

The expectations and reality of running a business can be a stark contrast. Unexpected costs build up quite easily. When you are first beginning, it is better to be prepared with additional funds, as you will be tackling many new and difficult responsibilities.

2. The boring stuff

More than 50% of running a business has to do with operations; human resources, accounting, marketing, or advertising. These can make or break a business. 

That’s why they are important to understand. Many people start a business with the misconception that a great product leads to automatic sales. This is rarely the case. You can outsource the unwanted work if you have the funds, but if not, prepare to learn because pushing these things aside will be detrimental.

3. Don’t be afraid to outsource

Small business owners are often reluctant to make their first hire. As most businesses are solo ventures and independently funded, it is no surprise owners fear the worst when it comes to hiring. 

However, this cynical approach will harm more than help. There are millions of specialized workers out there who can provide the same service much more efficiently. This can save the owner time and stress, and not to mention, let them focus on growing the business.

For example, hiring a bookkeeper throughout the year and processing invoices as you go avoids the headache of doing it all during the year end. The same applies for accountants and marketers. The extra money can outweigh the headache and let you focus on what matters.

4. Done is better than perfect

Humans are programmed to be threat seeking creatures. Very rarely, will you focus on the opportunities. You can read and plan a million different options and still fail at the end of the day. 

The act of doing and failing is often better than not acting at all. There is no secret to business. Every situation is different. Once you develop your basic understanding of business, just start doing.

5. The most important quality - perseverance

Everyone likes coming up with ideas but gives in once the real work begins. It is analogous to gym memberships. The ones who stay do so because they maintain the same level of interest after 6 months. Businesses will face roadblocks, that just comes with the territory. What separates success from failure is not giving up. It is okay to make mistakes – you never fail until you quit.

6. There are no overnight successes

Most businesses fail, and that’s the cold, harsh truth. The success stories you hear are coming from the 1% of businesses formed. Overnight successes are sensationalized stories that mislabel the months and years of hard work that came before the “big break”. You only saw the last part of their journey.

7. You can’t be everything to everyone

There are times when a customer may be asking for related products or services outside of your expertise. Although you naturally feel inclined to help, it may be best to redirect their search elsewhere or make a mental note. If enough customers inquire, then this may become a worthwhile endeavor in the future.

This concept can be applied to many different situations too. There are always difficult customers who take more from your business than you receive. Some people like to call it “firing a customer” but at the end of the day, it is severing a connection with a bad supplier or employee. This is always the last recourse, but don’t be afraid to do it.

8. Everyone makes mistakes. Just avoid the expensive ones.

Owning a business is almost indefinitely tied to change. Many businesses close or sell because owners are tired of managing change. The times when you should be most wary is when change has not occurred for some time. 

The key is to continue testing within your budget. Don’t be afraid to make mistakes. Small mistakes help you avoid the expensive ones. If you have not innovated in a while, then you are due for a sacrifice.

9. Managing Human Resources

It is difficult to hold people accountable without the correct systems in place, but at the same time many small businesses require employees to operate. Once you reach a level of scalability, you must be willing to trust your hires or scale back portions of the business. Also you should start focusing more on small business health insurance options, to attract talents.

10. Invoicing

Gone are the days of physical invoicing. Online invoicing platforms are easy, simple to use, and defeat the hassle of maintaining old records. Every B2B business (and even B2C) can find a use for online invoicing.

 But the benefit isn’t just for sellers – customers can pay through a variety of payment forms (credit card, PayPal, etc.) with online invoicing. All around, it’s professional and makes transactions much more efficient.

11. The product is only as good as you are

It’s not always about the product. An important factor of running a small business is also about you. How do you represent yourself? Are you taking advantage of networking opportunities in your daily life? 

Do you work on other facets of the business besides the product? Would you buy the product if you were a stranger receiving a sales pitch?

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What Is a Medicare Advantage Plan?

A Medicare Advantage Plan is an all-in-one alternative to Original Medicare. The Medicare providers in Pennsylvania who offer these plans settle with the federal government to provide health insurance advantages to people who qualify for Medicare. Medicare Advantage Plans also known as Medicare Part C or MA Plans are needed to provide the same benefits as Medicare Part A, which includes hospitalization, and Medicare Part B, which treats doctor’s visits. Medicare Advantage Plans also typically include Medicare Part D prescription drug coverage and may include benefits not treated by Medicare, such as routine dental care, eye exams and glasses, and hearing aids.

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Medicare 101: A handy starter guide

If you're in the process of deciding how you will get your Medicare benefits, or you’re just doing some health insurance research for a loved one who may be eligible for Medicare, you’ve no doubt noticed that there are a lot of coverage options.

What is Medicare?

Medicare is a federal health insurance program for: people who are 65 and older, certain people under 65 who have disabilities, and people with end-stage renal disease. Medicare is broken into four parts: A,B,C, and D.

Part A covers hospital stays and other inpatient care. You can get Part A benefits directly from the government or by enrolling into a Medicare Advantage plan.

Part B helps cover doctor visits, outpatient surgery, labs, and medical equipment. You can get Part B benefits directly from the government or by enrolling in a Medicare Advantage plan.

Part C (also known as Medicare Advantage), is privatized Medicare, which means it’s offered by health insurance companies. Medicare Advantage combines everything you get in Part A and Part B, usually with added benefits, like prescription coverage, dental, vision, and wellness perks.

Part D covers prescription drugs and is only offered by private insurance companies, either through Medicare Advantage plans that include prescription drug coverage, or Prescription Drug Plans that offer Part D coverage on its own.

It can get pretty confusing, so we made this handy chart breaking down the four parts of Medicare:

Original Medicare vs. Medicare Advantage

If you’re deciding between Original Medicare and Medicare Advantage, here are some key things to keep in mind:

Cost

Your Premium: is the amount you pay for your health insurance coverage each month. Original Medicare and Medicare Advantage plans generally have different monthly premiums. In Original Medicare, you will pay a monthly Part B premium of $135.50 (in 2019). You may also have to pay a Part A premium if you did not pay enough Medicare taxes while you were working.

Many Medicare Advantage plans offer $0 or low premiums. These amounts will vary by plan and by geographic location, so be sure to check the specific plans available in your area.

Coinsurance: is the percentage you pay for a covered health service—it varies based on the total cost of the services you receive.

Original Medicare usually requires a 20% coinsurance, so beneficiaries are responsible for paying 20% of the total bill. This can vary based on the amount of the final bill, which can make planning ahead a challenge.

Medicare Advantage plans usually have set dollar amounts for most services and procedures, which allows their members to plan ahead.

The maximum out-of-pocket (MOOP) is the most you are responsible for paying in a year. Copays for doctor visits and hospital stays count towards the MOOP.

Most Medicare Advantage plans have a MOOP. Once you’ve reached this amount for the year, your insurance company pays for 100% of covered services.

Original Medicare plans do not have a MOOP, so there’s no limit to how much you’ll have to spend in a calendar year.

Coverage

Original Medicare plans only includes hospital and medical insurance, so if you need prescription drug coverage, you’ll need to purchase a separate Part D plan.

Medicare Advantage plans usually combine all Part A and Part B services with Part D prescription drug coverage.

Which doctors and hospitals can you use? If you have Original Medicare, you can go to any doctor that accepts Medicare. Most Medicare Advantage plans require you to see a doctor or facility in their network. When in doubt, ask your doctor what Medicare Advantage plans they accept.

Supplemental benefits

Some blue cross Medicare advantage plans include dental, vision, and hearing, as well as perks like gym memberships and home delivery for prescriptions.

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Group Health Insurance

Group health insurance is provided by many employers and can include medical, disability, life, dental and other similar types of coverage.

These policies differ in many ways from Individual Health Insurance policies, which are designed to insure a single individual, or single family. In comparison, a group health insurance is structured to provide the benefits selected by the employer to all eligible employees wishing to enroll for coverage.

Whenever a master insurance policy is written for a group of people, instead of premium being developed from a single individual, the overall condition and experience of the group is used which can provide significant savings when compared to what each employee would pay individually for the same coverage.

Plans generally have deductibles and coinsurance requirements although the number of plan options varies widely from plan to plan.

Tip. Work with an experienced agent to explore all your options. Attracting and retaining top talent necessary to keep your business moving forward is directly related to the benefits package you offer, not just the salary for the position. 

In fact, studies are starting to show that employees are placing a higher priority on the quality of the health plan offered vs. the salary.

When reviewing your options, if you’re looking for the most cost-effective plan that still provides a competitive benefits package to attract potential employees, be prepared to invest some time.

So what are the different types of plans?

Here are a few of the popular types of group health insurance plans:

Preferred Provider Organizations (PPO) – In this type of plan, the plan provider has arrangements with hospitals and physicians (the network) to provide coverage for the employee at a reduced cost. 

A co-pay is usually required, and even if an employee chooses to see a physician out of the network, the plan will usually cover a portion of the cost.

Health Maintenance Organization (HMO) – This plan provides a network of hospitals and physicians similar to the PPO, but this plan is different when it comes to the amount employees are required to pay. 

Often, there is no co-payment required (or a very minimal payment required). However, if an employee sees a physician out of the network provided by the HMO, the employee would likely pay 100% of the cost.

Fee-for-Service Coverage – These plans allow the employee to see any physician or hospital and receive partial payment. 

Most companies offer an 80/20 plan which translates to the plan paying 80% of the bill and the employee paying 20%. Like with most plans, only services that are considered medically necessary and specified in the plan are covered.

Health Savings Account (HSA) – This is a tax-advantaged savings account designed specifically to cover medical expenses. 

There is a high deductible health plan that kicks in after a specified deductible amount has been reached, $5,000 for example, and the individual is responsible for expenses up to that point. 

Contributions to the HSA are not subject to federal income tax, and can be used to pay for qualified medical expenses. In addition, contributions to your HSA roll over each year which is partly why these plans are becoming more popular.

The most important point to remember when considering these plans is to work with an experienced agent that can provide options from several different insurance companies. 

And don’t forget to ask about the financial strength of the companies you’re considering. While the benefits provided by the plan are important, if the company providing the plan is financially distressed, it might not be able to meet its obligations when you need them.

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Group health insurance policies

Health insurance has become a necessity in today’s age and time. Illnesses are on the rise as lifestyle diseases and infections are increasing. Along with the rising incidence of illnesses, medical costs are also rising. 

In the face of these rising costs, affording quality healthcare has become difficult. Many individuals understand this fact and so a health insurance plan is quite popular. 

In fact, groups try and avail a business health insurance for their members so that the members can enjoy health insurance coverage at affordable rates.

What is group health insurance?

Group health insurance plans are those which provide coverage to a group of individuals who are a part of a recognized group. 

A single policy is issued in the name of the group and the policy is called the Master Policy. All the members of the group are then covered under the policy.

Features of group health insurance plans:

Group insurance scheme are categorized with the following unique features –

The policy is available to those groups which are already in existence for a purpose. If a group is created only for the purpose of buying a group Mediclaim policy, such a group would not be covered.

The group should have a minimum number of members to be eligible for a group health insurance plan. This requirement of minimum members varies across different plans. Usually, most group health insurance plans require a minimum membership of 20 or 25 individuals.

The policy is issued for one year. If the group wants to enjoy continued coverage, the policy should be renewed every year.

Health insurance companies provide coverage up to a limit. Very high coverage levels are not allowed. This is because of the fact that the company does not underwrite individual health risk of the covered members. The policy is issued based on the nature and composition of the group.

The premium depends on a lot of factors. The primary factors include the size of the group, type of group, the average age of the covered members, the sum insured and additional coverage options if selected.

Premiums can be paid by the group itself or by its members. Alternatively, the premium can also be paid partially by the group and partially by the members. The insurance company, however, collects a single premium from the group irrespective of who pays it.

A claim by one member does not affect the coverage of other members.

Cashless claims can be availed if the insured member avails treatments at a hospital which is tied up with the insurance company.

How does group health insurance plans work?

The working of a group health insurance policy is quite simple. Here are the steps showing how group Mediclaim policies usually work –

A group approaches an insurance company and proposes to buy its group health insurance policy

The company accepts the proposal for insurance and underwrites the medical risk of the group

The sum insured is agreed upon and the insurance company fixes the premium payable for the plan

If the group is satisfied with the premium charged by the company, it can pay the premium and get the policy issued

Once issued, the policy runs for one year

During the year, if any member faces a claim, he informs the health insurance company.

The company verifies the claim and settles it

If the claimant’s sum insured is remaining after the claim, the coverage would continue up to the remaining sum insured

Coverage for other members would not be affected. It would run till the term of the policy

Once the coverage duration ends, the group can propose a renewal of the policy

On renewal, the policy is again underwritten based on the claim experience in the last year

If the claim experience is good, the company might offer a premium discount when the policy is renewed.

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How to Choose Health Insurance Policies for Children

There are millions of Americans getting health insurance quotes for children because of children with special health care needs. The American population relies on the omnipresent Medicaid, Medicare and Social Security. 

According to a recent report only one in three children can rely on Medicaid or the Children’s Health Insurance Plan or the chip health insurance in pa. It is true that children and youth with special needs are covered by Medicaid. 

The families trying to raise their children under serious situation can take advantage of the comprehensive benefits and cost sharing protections.

The consumers with best health insurance for children needs can find require options at PHIQ which is an online service provider to bridge gap between insurers and consumers. 

The convenience of the web and easy access to online assessment tools provide the means to locate quotes and policy coverage as important as children health insurance. Not being able to rely on Medicaid the largest payer of children’s health care services can ruin many families. 

The family health insurance of parents from their jobs or employment is more often than not insufficient to cover the costs and needs of growing children.

The best health insurance for children is preventing families with special needs from declaring bankruptcies by providing necessary financial assistance. The children and youth benefitting from the best health insurance policy can live a productive, independent life which is of prime importance to the nation. 

Even though Medicaid is the largest payer many families have private health insurance policies to meet costs of caring for their children at home rather than placing them in institutional care. By having sufficient children’s health insurance coverage in addition to parents’ employer coverage they can pay for expensive life-saving medicine or medical bills.

The health individual insurance are less expensive as opposed to group coverage. the individual policies are fully funded by the insured with no employer contribution. 

This coverage can be for one person or for the entire family. The good news is that consumers can look forward to more benefits with it being a guaranteed issue. They will also get subsidies on a portion of the costs on policies purchased in the market place.

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7 Tips to Get the Most Out of Your Health Insurance

Are you currently getting all you’re from your own group Insurance policy program? Try out these 7 skilled ideas to earn certain to max out just about every gain that is available for your requirements.

Your well being can assist you to maintain your health prices manageable. But a lot of families might possibly not be optimizing the advantages their insurance policies delivers –also can possibly be paying somewhat more than they will need to for health care for a consequence.

Listed here is the way to guarantee you receive the best from one’s insurance policy plan.

1. Pick the most suitable policy for the loved ones. 

Prior to starting just stay to precisely the exact same insurance policy coverage every calendar year, be certain you consider exactly what sorts of dental and medical demands that your family now offers. When you’ve got orthodontal focus in the horizon, or even somebody within your loved ones was diagnosed with a serious illness, then be certain that you pick the master plan which covers all those ideal.

2. Be certain that you know that the own plan. 

Maintain those positive aspects paperwork you buy once you register for the health insurance policy coverage convenient. They could offer amazing advice on which you may fork out for unique kinds of products and services, and also that which the guidelines of one’s insurance policy coverage are like if you ought to opt for an in network main care doctor or whenever you’ll need referrals to observe an expert. Adhering to a rules can allow you to make sure you will obtain care of significant personal savings.

3. Request an urge to operate for you personally. 

“Should you get a huge charge for providers following an ER trip or operation, such as –and also you also don’t know just how to browse it, then seek the services of a health billing urge to aid you,” proposes Ruth Linden, creator of Property Life Advocates in San Francisco. “he or she won’t bill a fee whether what’s so that you can About the flip side, if a suspicious fee can be obtained, the normal billing urge could bill a fee one time of the quantity they spare . 

Your financial benefits may encounter tens and thousands of bucks ” This is sometimes particularly crucial when you should be working with a intricate medical dilemma which necessitates important –and more costly medical maintenance. 

4. Stay to providers that are distinct.

 “The cheapest charges would be around for hospitals and physicians that engage on your insurance policy plan. “examine to be certain the health practitioners that are handling your young ones are based about your own insurance policy program. 

In addition, it is advisable to make certain the physicians are connected with hospitals who are insured in your own insurance policy plan.”

5. Get the most of this whenever you blend your allowance. 

As soon as you have fulfilled your allowable at all ideas, you are going to spend less out of pocket for virtually any health-care you are using far outside that.

 Therefore, in the event that you have previously satisfied your allowance for this calendar year, that is enough opportunity for you to routine appointments to receive the skin peeled, your own eyes assessed, and also every additional services that you want in a diminished price.

6. Access your meds through email purchase. 

For prescription drugs you simply employ long term, you will decrease cost and hassle in case you get pills onto the subscription assistance via your insurance firm. 

7. Max out some discount rates, apps and advantages. 

Insurance policy businesses sometimes provide wellness and health applications, for example discount rates on gym classes and programs specialized in assist with special health circumstances, programs that will assist you monitor prescription drugs and wellness files, or other perks. 

Be certain that you assess your insurance policy provider’s internet site routinely for new added benefits.

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5 Steps To Purchase The Best Small Business Health Insurance

If you are a business owner with limited time, thinking about adding small business health insurance options for your employees might seem like a daunting task. In today’s competitive job market, employees are looking for security and support, and when it comes to what job seekers want, health insurance rates are second only to a salary. 

Health insurance doesn’t need to be complicated.   Here’s how to provide health insurance for your employees in 5 easy steps.

Step 1: Set A Budget

Before you make any decisions, know how much money you will allot to insurance. Take a look at your business’s budget and ask: How much will I contribute per employee? How much will I ask my employees to cover for themselves?

Choose a plan that offers good coverage to your employees, but also fits within your business’s budget. It’s crucial to know what you are paying for or what you might be asking your employees to pay for. The biggest factors in health insurance costs are:

Medical history

Prescription drug coverage

Visits per year

Types of specialists, if any

Specific employee medical needs and history

Step 2: Know What Plan & Benefits You Need

Now that you know how much you can spend, study which plan fits within your budget and will provide the benefits you’re looking for. Ask yourself these questions to help pinpoint the right health insurance plan and level of coverage for your small business:

How many employees do I need coverage for?

How old are all my employees? How many of them are smokers?

Am I going to add ancillary options to the insurance plan? (Vision or dental? What are you willing to pay for prescription drugs? Do you want to offer a wellness program?)

How much of my employee’s premiums am I going to pay? (For tax credits, you will need to cover at least 50% of the premium coverage.)

Will I also offer insurance to dependents/part-time employees?

Do I want to offer my employees a Preferred Provider Plan (PPO) or a Health Maintenance Organization (HMO)?

These are the types of questions you’ll need to have answers prepared for when you go into your first meeting with an insurance agent or broker.

Step 3: Gather The Proper Documents

To receive an accurate health insurance quote from an insurance broker, you’ll need to provide some numbers and documentation. Before you call an agent or a broker, make sure you have gathered and prepared the proper documents. You’ll need to provide:

Your business address

How many employees you are insuring

Employee ages, zip codes, number of dependents

Sometimes the employee’s tobacco use

Business Name

Tax ID

Step 4: Start Shopping

Now you are ready to make purchasing decisions! If you run a small business with fewer than 50 employees, you may be eligible to enroll in the Small Business Health Options Program (SHOP). If you aren’t, decide if you want to choose the broker approach or head out on your own. When evaluating providers, here are some things to consider:

The financial strength of the provider

Customer service ratings for the provider

Claims service ratings

Policy offerings and coverage benefits

Provider choices

A simple Google search can lead you to many online insurance providers that will sell to you and your business directly.

Step 5: Compare Quotes

Study the numbers and look at the plans. Maybe the cheapest plan is appealing, but does it actually work for your employees? 

Don’t be afraid to ask questions and pose several medical situations to understand the costs associated with them. Push for numbers, run scenarios, and compare, compare, compare.

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Additional types of small business liability insurance

There are many forms of specialized liability insurance that small businesses can consider. Some common examples include small business insurance for liabilities related to:

Cyberattacks and data breaches

Products

Directors and officers

Employment practices

Liquor-related incidents

Cyber Liability Insurance

As a relatively recent form of small business insurance coverage, cyber liability insurance is becoming more significant due to the rise of digital threats. The purpose of cyber liability insurance is to protect businesses’ digital data from online risks such as hacks, data breaches, and cyber extortion. This kind of small business insurance will be important for specific kinds of businesses.

Cyber liability insurance is probably an essential form of small business insurance coverage for companies that manage the personal data of customers, including their credit cards, financial accounts, medical records, or contact information.

According to a 2019 report conducted by The Hanover Insurance Group and Forbes Insights, 18 percent of small business owners reported facing a data breach incident in the past 5 years, while 63 percent of small business owners who faced a cyber breach claim expect to face another claim in the next 5 years.

 Additionally, 67 percent of small employers agreed that as their businesses become more digital, they become more vulnerable to cyber security incidents, according to the report.

Ultimately, cyber liability insurance may be an important tool for small businesses from a variety of industries that seek to protect the information of their clients and employees.

Product Liability Insurance

A product liability insurance policy applies to injuries and damages resulting from the use of products made, sold, or transported by a business. This type of small business insurance typically provides more specific protections from product-related legal claims than general liability policies, which tend to have limited coverage for product liability claims.

Examples of businesses that may benefit from a product liability insurance policy include:

Manufacturers

Distributors

Wholesalers

Transporters

Depending on the industry and business type, product liability claims may be especially costly for a business. According to information gathered by the Insurance Information Institute, lawsuits from product liability claims can be considered one of the most expensive types of litigation, based on the personal injury awards given by juries.

Given the potentially high legal costs and personal injury awards arising from product liability claims, a product liability policy may be an especially significant type of small business insurance for companies in particular industries.

Directors and Officers Liability Insurance

This form of liability insurance can specifically protect the directors and officers of corporations and organizations in the event of a lawsuit that claims they conducted business without regard for the rights of shareholders or others.

Since leaders are exposed to additional risks by becoming directors or officers, businesses may choose to acquire this type of small business insurance. Directors and officers liability insurance policies usually do not cover illegal activities or poor business decisions.

Employment Practices Liability Insurance (EPLI)

Employment Practices Liability Insurance (EPLI) is a type of small business insurance that can cover damages for violating the civil or legal rights of an employee, up to the policy’s limit. An EPLI policy may offer coverage for different employee lawsuit claims, such as:

Discrimination

Harassment

Wrongful termination

Breach of employment contract

Employment Practices Liability Insurance would typically reimburse a business against litigation, legal costs, judgments, and settlements resulting from employment practices-related lawsuits.

Liquor Liability Insurance

If your business is a bar, or sells liquor in some form, you may want to pay extra attention to this small business health insurance policy. General liability insurance policies often exclude alcohol-related incidents. As a result, a small business that sells or serves alcohol may need to purchase liquor liability insurance coverage. In fact, many states require businesses to have liquor liability insurance in order to acquire a liquor license.

A liquor liability insurance policy may include coverage for incidents such as:

Altercations between intoxicated customers

Related occurrences of assault and battery

Intoxicated customers causing DUI accidents

Workers drinking while on the job

Witnesses’ mental injuries from an incident

Note that the specifics regarding what incidents are covered by liquor liability insurance vary depending upon the location of a business; this is due to each state having its own legal and evidence requirements related to third-party injuries.

If a small business decides to offer alcohol at occasional company events, then it has the option to purchase a liquor liability insurance policy that only provides coverage for those occasional events, and may have lower premiums as a result.

Other types of small business insurance

Each small business has its own unique priorities as well as risks. Additional types of relevant small business insurance can provide effective coverage for:

Key employees

Identity theft

Terrorism

Flooding

Key Employee Insurance

Key employee insurance can help provide compensation for a business if one of its key employees dies or becomes disabled. Examples of key employees include executives and leaders who play a major role in a business and cannot be readily replaced. Key employee insurance may reduce the negative impact of losing a critical employee through financial assistance, and could be especially valuable for businesses, which need to prioritize succession and continuity planning.

Business Identity Theft Insurance

Identity theft insurance can help protect small businesses and corporations when facing issues that involve identity theft and related types of financial fraud. Depending on the policy, identity theft insurance coverage may help with recovery via assistance with legal and resolution services.

According to a report by the Consumer Sentinel Network, which is organized by the Federal Trade Commission (FTC), of the nearly 3 million reports received in 2018, 1.4 million (or 48 percent of all reports) were fraud-related, while 444,602 reports (15 percent) were related to identity theft. The report also found that credit card fraud was the most frequent form of identity theft in 2018.

Terrorism Insurance

The Terrorism Risk and Insurance Act of 2002 (TRIA) requires the owners of specific types of commercial property to offer business owners the opportunity to buy insurance coverage against terrorist attacks. The TRIA also included a requirement that business owner’s policies (BOPs) offer terrorism insurance in their packages, although small business owners are not required to purchase this form of coverage.  

Commercial Flood Insurance

Commercial flood insurance can provide coverage for a small business in the event of water damage resulting from floods. The purpose of this small business insurance is protect areas of a building and property that may be affected by flooding, such as walls, floors, ceilings, equipment, and inventory.

Even companies located in areas that are not prone to seasonal flooding can still be affected by flood damage from unexpected sources, such as melted snow, clogged drainage systems, or flash flooding from unusually severe rainfall or storms. 

If a business’ commercial property insurance does not already include coverage for floods, then it may be worth considering the purchase of this type of small business insurance.

How much is small business insurance?

The average cost of small business insurance depends on several key factors, including:

Industry and perceived risk – Certain industries, such as those that involve working with heavy machinery, face greater risks and hazards than others. As a result, industries with higher potential for injuries are more likely to have higher small business insurance premiums.

Scale of the business – A business with a larger amount of employees may face a greater likelihood of risks than a business with fewer employees. Similarly, factors such as the condition and size of the business’ property or building also play a key role in determining insurance costs.

Location of the business – Location-based factors that influence the cost of small business insurance include municipal and state laws and the regional frequency of natural disasters.

Claims history – A business with few insurance claims may pay lower premiums compared to a business with a higher number of claims. For example, a business with fewer workers’ compensation claims may be conducting its operations more safely than other companies, and thus may have a lower insurance premium.

Overall, small business insurance costs will vary depending on the type of small business insurance chosen, as well as the unique needs and characteristics of each business.

Where to find small business insurance

While small business insurance coverage may be complex, finding the right policy shouldn’t be. When searching for small business insurance, your best source of information will be a professional licensed insurance broker. 

Brokers can provide relevant information that can help you choose the optimal small business health insurance coverage for your company, based on your budget, industry, risk factors, and preferences.

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What are the major types of small business insurance?

General liability insurance can protect a small business in case it is sued by a third party for injuries or damages.

Errors and omissions or professional liability insurance can help defend a small business from claims related to negligence or inaccurate advice.

Small business health insurance provides group health coverage and medical benefits for small business employees.

Workers’ compensation insurance helps protect employees by paying for their medical care in case they are injured while working.

Property insurance provides coverage for items and property used by a business, such as inventory or technology, in the event of physical disasters.

Commercial auto insurance covers the cars and vehicles that employees use for work purposes.

Commercial umbrella insurance is for incidents that go beyond the coverage a business already has through its other commercial insurance policies.

A business owner’s policy (BOP) is a type of small business insurance package that combines coverage for most common property and liability insurance risks, as well as several other coverage areas.

What types of insurance do you need for a small business?

As a small business owner, you may be considering what types of small business insurance you need to provide for your company and employees. Nearly all small businesses choose to have general liability and property insurance, as well as workers’ compensation insurance if they have employees.

Other forms of small business insurance, such as small business health insurance or specific types of liability insurance, may be optional depending on the industry. Although companies may not be required to purchase every kind of small business health insurance out there, such policies can still protect small businesses from unexpected losses and accidents.

Overall, small business insurance policies often serve as valuable resources for employers by providing a safety net that shields businesses from liability and risk while helping them move forward in the face of uncertainty.

This guide to small business insurance will examine the major types of small business insurance, as well as the factors that influence average small business insurance costs.

What are the different types of small business insurance?

The major types of small business health insurance available to employers include:

general liability

errors and omissions or professional liability

small business health insurance

workers’ compensation

property, commercial auto, umbrella, and business owners’ policies

There are also other, more specialized forms of liability insurance, as well as additional types of commercial coverage and small business insurance.

General Liability Insurance

Most small businesses choose to invest in general liability insurance, which protects the company assets of small businesses in the event of being sued by a third party (any person or entity outside of the business). A general liability policy may help cover legal costs, as well as any settlement or award if your small business is sued.

A general liability insurance policy usually covers claims arising from the activities or operations of a small business, such as:

Bodily injuries

Property damages

False advertising

Libel and slander

Additionally, general liability insurance covers legal costs such as compensatory damages, non-monetary damages, punitive damages, legal defense costs, and settlements. Most general liability policies cover such claims whether they are filed by an individual or through a class-action lawsuit.

Since general liability insurance focuses on damage claims brought by a third party external to the business (like a customer slipping on a wet floor in a store), the policy typically does not cover employee medical expenses if they are injured on the job, or damage to property owned by the business. 

The high costs of lawsuits are one of the primary reasons why it is important for a small business to have general liability insurance. According to courtstatistics.org, the median costs for a premises liability suit can start at $54,000, with the trial phase of the suit being the costliest part of the litigation process.

A Small Business Association (SBA) Office of Advocacy report found that:

The legal costs of actual litigation for small businesses ranged from $3,000 to $150,000.

Approximately 36 to 53 percent of small businesses are involved in litigation each year.

The SBA report also noted that litigation’s impact on a small business can go beyond financial loss from damages and legal fees, often by contributing to significant emotional hardship for the business owner.

Overall, regardless of industry, many small business owners will likely consider choosing general liability insurance, since it protects their companies from the most common costs and risks associated with third-party litigation.

Errors and Omissions Insurance or Professional Liability Insurance

Errors and omissions insurance, also known as professional liability insurance, is a form of small business insurance that can help defend a business against financial losses from lawsuits and claims filed by customers and clients, as well as help pay for judgements or settlements.

Professional liability insurance covers claims such as negligence, inaccurate advice, misrepresentation, and violations of good faith. If your small business relies on using technical expertise to provide recommendations, advice, or any sort of physical care that may result in risks for customers, patients, or clients, then you will likely need this kind of small business insurance.

Since this same type of small business insurance policy is used throughout different professions, it can typically be referred to interchangeably with two different names: professional liability insurance or errors and omissions insurance. For example, malpractice insurance for doctors can also be called a medical errors and omissions policy.

Depending on state laws, lawyers and doctors are often required to have errors and omissions insurance.

Professionals from other industries that frequently use errors and omissions insurance or professional liability insurance include, but are not limited to:

Financial advisors

Insurance agents

Real estate agents

Accountants

IT consultants

Architects

Engineers

When selecting an errors and omissions or professional liability insurance policy, your small business has two types of coverage options available:

Claims made – In order to receive insurance protection, this form of coverage requires that the insurance policy is in effect both when the action occurred and when the lawsuit was filed.

Occurrence – This type of coverage tends to have a higher cost; however, it will protect a small business even if the lawsuit in question happens after the small business insurance coverage has lapsed, as long as the action occurred during the time when the business was covered.

Given the especially serious nature of professional liability claims, errors and omissions coverage may be an essential form of small business insurance for industries specializing in expert advice and technical recommendations.

Small Business Health Insurance

Small business health insurance, also known as group health insurance, provides medical coverage and health benefits to employees. According to the Affordable Care Act (ACA):

A small business is usually not required to offer group health insurance if it has less than 50 full-time equivalent employees.

A business with 50 or more full-time equivalent employees is required to offer group health insurance coverage to its workers and pay at least 60 percent of employee premiums.

To qualify for small business health insurance, a business needs to have at least one full-time equivalent, common law employee who is not the owner, the owner’s spouse, or an independent contractor. A company must also be officially registered as a business according to its state’s regulations. A sole proprietor with no employees would not qualify for group health insurance, and would instead be eligible for an individual health insurance plan.

If an employer decides to offer small business health insurance coverage, then the employer is required to share the cost of monthly premiums with employees (usually 50 percent of premiums in most states, although businesses can choose to cover a higher percentage).

In most states, it’s up to the small business owner whether to cover the cost of premiums for employees’ dependents under the company’s small business health insurance plan.

There are different small business health insurance plan types, such as HMO, PPO, and POS plans, along with different metal levels that signify the different degrees of coverage for each plan.

One of the main advantages of small business health insurance for both employers and employees is that in a group plan, premiums per person tend to be more affordable on average compared to individual health insurance coverage.

Small business health insurance plans tend to have lower costs due to the risk pool advantage, a key insurance concept which means that when more people enroll and pay into a health plan, an insurance company is better able to spread the risks across the entire covered group, or “pool,” of individuals. As a result, the insurance company can more effectively cover the high cost of any one person’s medical services.

Other beneficial reasons to offer small business health insurance coverage include:

Hiring talented prospective employees

Greater employee loyalty and retention

Potential tax incentives, such as deductions or tax credits

In addition to medical insurance, a business owner can also choose to offer other forms of small business health insurance, such as group dental and group vision plans, to his or her employees.

You can shop for small business health insurance plans through public or private health exchanges, or through a licensed insurance broker.

Workers’ Compensation Insurance

A small business can help protect its employees through workers’ compensation insurance coverage, which can pay for the medical care of an employee who becomes injured or ill while working, and may replace the employee’s partial wages. If an employee dies from work-related injuries, this type of small business insurance may be able to provide compensation for the employee’s family.

In most states, workers’ compensation insurance may be legally mandatory if a small business has at least a certain number of employees. According to the Insurance Journal, the majority of states require all businesses with one or more employees to have workers’ compensation insurance, while certain other states do not require employers to have coverage until they surpass a threshold number of employees (usually between 3-5 workers depending on the state).

Each state also excludes certain workers from workers’ compensation coverage; while these exclusions vary from state to state, examples may include farm workers and seasonal or casual workers. A sole proprietorship with no employees besides the owner may be exempt from workers’ compensation.

In addition to medical expenses, workers’ compensation insurance may cover related expenses, such as:

Replacement income

Retraining costs

Living costs for permanent disabilities

Survivor benefits in case of employee death

However, workers’ compensation insurance may not pay the full amount. Most of these sorts of claims are capped at particular maximums, and a business may need to pay a deductible or other forms of cost-sharing. It is important to note that workers’ compensation ends once the injured employee returns to work, and that workers’ compensation payments are usually tax-free.

Remember that workers’ compensation only covers accidents and illnesses that occur during the course of work. To help protect the health of employees outside of work, an employer could consider enrolling in a small business health insurance plan for their workers.

Workers’ compensation covers the majority of the nation’s workforce. According to a National Academy of Social Insurance report, workers’ compensation insurance coverage extended to an estimated 86.3 percent of all jobs in the employed workforce in 2015, comprising more than 135 million workers.

Not only is workers’ compensation a required type of small business insurance for most businesses with employees; it may also help shield a small business from bankruptcy if a worker becomes severely injured while on the job.

Property Insurance

Depending on the plan chosen, property insurance covers physical disasters, such as fire, theft, or vandalism. This type of small business insurance is especially relevant for a business that has a physical location or storefront. Property insurance provides coverage for property used by the business, including furniture, inventory, and technology, and will generally pay for restoration and repair costs.

A company may have the option to add business interruption insurance to its property insurance policy. For instance, if a fire caused a business to burn down, business interruption insurance could cover the resulting loss of income from the fire, while the property insurance covers the fire’s damages. Overall, small business insurance policies that provide coverage for property and interrupted income are important options for business owners to consider.

Commercial Auto Insurance

A small business that owns or uses vehicles is frequently required by law to have at least the state-mandated minimum level of commercial auto insurance, also called business auto insurance.

If an employee drives a car owned by the business and causes damage or injury, a commercial auto insurance policy would typically pay for the costs the business is liable for, up to the policy’s limit.

The two types of commercial auto insurance available to small businesses are:

A traditional commercial auto insurance policy combines liability and property coverages for vehicles owned and used by a business.

A hired and non-owned auto insurance policy is for businesses who have their employees drive their own personal or rented vehicles (which are not owned by the business) for work purposes.

Remember that some private auto insurance policies may not provide coverage if a car is used mostly for business purposes. Speak with a licensed small business insurance agent to find out if it makes sense to switch to a commercial auto insurance policy instead.

Overall, businesses that rely on vehicles for delivery, instruction, or employee transportation purposes may find commercial auto insurance to be a worthwhile choice of small business insurance coverage.

Commercial Umbrella Insurance

Commercial umbrella insurance is meant for incidents that go above the coverage a small business already has through its other forms of insurance. For instance, if a business was sued for $2 million, and its general liability insurance only covered the business for $1 million, then commercial umbrella insurance would be able to cover the remaining $1 million.

Typically, umbrella insurance may also be applied to other types of liability and small business insurance. Overall, it may make sense for a small business to consider commercial umbrella insurance if the company faces the risk of major suits or losses.

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Top 5 Small Business Health Insurance

As a small business owner or a self-employed worker, one of your responsibilities is finding group Insurance for yourself and your employees. With so many options on the market today, that can be a daunting task, especially for people who are just starting their companies. In order to make their lives a bit easier, we have compiled a list of best health insurance plans that suit their needs.

Self-employed people are, under the Affordable Care Act, free to claim health insurance expenses as deductible on their tax forms, but only if they fulfill several conditions.

That is good news for many people out there, who now don’t have to worry about picking the cheapest plan on the market in order to make ends meet when the bills come. In case you have missed an open enrollment window, you can go with one of the short-term plans, just to bridge the gap.

Small Business Health Insurance

They are a bit more expensive, but since they are meant to last only a few months, it won’t be that big of a deal. Before making a decision, you should check if you are qualified for Medicaid healthcare coverage since that can save you a pretty penny. Finally, you can opt for self-funded health insurance, which offers you the most flexibility on choosing the best health plan for yourself.

Small business health insurance can have different definitions as to what constitutes a “small business”, depending on a company that offers health plans, but in general, if you have between two and 49 employees, your enterprise falls into this category. Here are your best options.

Aetna

With a market value of 38 billion in 2014, Aetna is the third largest health insurance company in America. They offer several plans for small businesses who employ between 2 and 50 workers, Open Choice Plan, Traditional Choice Health Insurance Plan, and Aetna Health Fund One-to-One Employer Overview. Open Choice Plan is the most flexible one, allowing you to visit any doctor you choose, although that will increase your out-of-pocket fees.

Traditional Choice Health Insurance Plan requires you to pay for all your expenses and get a refund after submitting a claim.

Aetna Health Fund One-to-One Employer Overview can be merged with any other small business plan offered by Aetna.

Kaiser Permanente

Kaiser Permanente is an excellent choice for managed care. They are present in states of Colorado, Georgia, Hawaii, Maryland, Virginia, Washington, D.C., Oregon and Washington. 

They offer several plans for small business owners, including Traditional HMO Plans, Deductible HMO Plans, HRS, and HAS-Qualified Plans and Deductible HMO with HRA Plans.

Deductible HMO Plans is one of the most affordable options on the market today, offering higher deductibles, but also lower premiums while maintaining a quality level of health coverage.

HRA and HSA-Qualified Plans are consumer-directed health plans with tax-free funds. This makes them great for self-employed people, who will have the same coverage as people who bought traditional HMO plans.

United Health Care

United Health Care is a member of United Health Group, the largest health care provider in the country. This also means that their network is among the biggest ones, offering plenty of options for quality diagnose and treatment.

Humana

Humana is often praised for the tax saving their plans offer. They operate in all 50 states, but their plans differ from state to state. They are Humana Simplicity, Level Funded Premium, Self-Funded Plans, High Deductible Health Plans, Copay Plans, and Coinsurance Plans. Each offers different levels of out-of-pocket expenses, deductibles, and copayment.

BlueCross/BlueShield

The Blue Cross Association is one of the largest health companies not only in the United States but worldwide. They operate in more than 170 countries. In America alone, they have almost 100 million clients.

Their small business plans are extremely well developed, offering more than 30 options, each with different deductibles, out-of-pocket expense, coinsurance, copayment, and preferred provider options. Their network of doctors and hospitals is one of the largest in the country, offering their clients various options for quality treatments.

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Children’s Health Insurance Program (CHIP)

Medicaid and Children’s Health Insurance Program (CHIP) grant free or low-cost health insurance for kids and teens. Chip health insurance in pa gives health coverage to uninsured children up to age 19 years old. Children can get routine check-ups, immunizations, doctor and dentist appointments, hospital care, mental fitness services, prescriptions, and more. Children in a family of four making up to $49,200 a year or more may qualify.

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Hidden Rewards of Offering Employee Benefits

Many small business owners mistakenly believe that they cannot afford or do not need to provide employees with additional benefits. Although not providing employee benefits may increase your profits in the short term but it may limit the success of your business to achieve long-term prosperity. The latest research shows that six out of ten employees view health benefits as an important contribution to job satisfaction. Business health insurance are essential to attract the right talent and keep them in the company. Providing employee health benefits can help workers prioritize their health, stay healthy and at work.