Best health insurance options – For a company with a lot of employees and business, purchasing a health care insurance is not a factor to think of twice. As a fact it is necessary to offer health insurance if your company consists of more than 50 employees. If your target is to develop, this is a path you could take. Yet, in the world we live, there are also small business groups that slowly crawl the peak to success. These are a few of the best options out there to help you and your small business.
Best health insurance
1. Solo entrepreneurs (individual health insurance bearers)
Allowing the employees to have individual health insurances is a great way to start. An employee may choose over the various policies offered in the marketplace and receive discounts and other options offered by the insurance companies.
This could be considered one of the most cost-effective ways if you are a sole proprietor or perhaps a freelancer. It is in your hands to take care of your health as well as your dependents. Though some states allow, usually a one-man business is not provided health insurance since the risks are all on a single person. Therefore, it is better to have at least two people involved in it so that you are at an eligible state to purchase a valid health insurance for your business.
2. Purchasing directly
This method is sure to reduce your costs, yet there are also possibilities where this could go wrong. If you are ready to take the trouble to purchase your health insurance directly from a provider it would be a great help to your pockets. Yet, options offered to you by the provider will not allow you a vast selection but a limited one.
On the other hand you will be the one that is responsible for all the billing, eligibility and paperwork. This does sound a lot of trouble, and yes it is not the most efficient way to success. But, if you are a tough person and is ready to take up the challenge, well here you go.
SHOP or else small business health option program, is a part of the comprehensive health care reform law enacted in March 2010 or in other words the ‘Obamacare’. It is more like a little market place where you can filter and choose the best out of the products offered. According to this, each state has its own SHOP, run either with the help of the government or on a private basis, which allows you to search and make your choice on a health insurance for your business. Here you are allowed to choose through the categories of gold, silver and bronze. Once you choose your category, your employees have the opportunity to choose their own insurance plan while your expenses remain unchanged.
4. Private health exchanges
Depending on the areas of the health insurance you want to cover for your employees, this method allows you to pay a fixed amount for each employee. Your employees get the privilege of choosing their own plans. Though this method doesn’t provide you a vast area of choices, it provides you with agents who can advice you. This is practically a private version of a SHOP marketplace.
As a stranger to the industry, there are a lot of chances where you might take the wrong choice. As you know, a simple wrong choice in this industry will lead to a huge waste of your time, money and energy. So, choose the right bridge and cross the waters safely.