Health Insurance for Individuals, Groups, Seniors
Products - Small Group Health Insurance
Employers purchase group health insurance coverage for many reasons:
-It helps attract and retain key employees;
-Premiums paid by the employer are tax-deductible to the business and under a 125 plan, are non-taxable to the employees;
-Benefits paid by the health insurance plan are tax-free to employees; and
-It’s the right thing to do for the business and for the employees
How much is an employer required to pay on the health insurance?
Defined Contribution or Traditional Contribution
Defined Contribution options allow you to choose from the following contribution options:
-Defined Contribution 80: Limits your share of monthly premium to no more than $80 per employee.
-Defined Contribution 100: Limits your share of monthly premium to no more than $100 per employee
-Defined Contribution Select: Empowers you to pay any fixed monthly amount in excess of $100 per covered employee (increases available in $5 increments).
Traditional Contribution: Enables you to contribute 50% or more of the total monthly employee premium.
Can an employer offer his employees plan choices? Yes.
The employer can decide to offer the employees the choice of several different plans with different benefits. When the employer has already decided the fixed amount he is going to pay, the employee can determine if he needs more coverage and pay the difference.
How many employees do I have to have to qualify for a group?
2 or more full time employees