Building a successful business is hard work. Finding the affordable, quality health insurance you need doesn’t have to be. Whether you’re self-employed and working out of your garage or the owner of a small business with multiple employees, you face special challenges when it comes to finding and getting health coverage.
What Is Group Coverage?
Group medical coverage refers to a single policy issued to a group (typically a business with employees, although there are other kinds of groups that can get coverage) that covers all eligible employees and sometimes their dependents. With groups such as small businesses, the insurer determines a premium price based on risk factors balanced over the entire group, using general information on members of the group, such as age or gender. Insurers are required by law to offer coverage to small groups.
While there is no law requiring small business owners to provide health insurance, the Affordable Care Act makes substantial changes that small business owners should be aware of when deciding whether to purchase insurance for their employees.
Selecting the best health insurance plan for yourself and your business means making an informed choice and knowing your own priorities and those of your employees. Is cost your number one concern? Which benefits are most valuable to you and your employees? At Citrin Financial we will answer all of your questions and assess all of your options to help you gauge your overall needs.
