Every small business in Dallas, Houston and throughout Texas wants to attract high quality individual employees who will contribute to the growth and success of the company. In order to recruit and retain these people, many larger business owners offer health insurance cbdrumourcom, specifically group health, as an employee benefit.
If your company is small, especially if has ten or fewer employees, there are still ways to offer your employees health insurance coverage. In most states, insurance companies which offer small group health insurance plans are required to accept any employer group of two to 50 employees, provided the employer agrees to insure 100% of the eligible employees.
Before you can offer any health insurance coverage, you must decide how much your employees will pay, as well as the kind of insurance that you wish to offer.
It’s expensive. So who pays?
Most businesses that offer their employees group health insurance plans contribute towards the cost of the coverage. Some pay for all of the employees’ premiums (for single coverage) and let the employees pay the premium if they need coverage for their families. Other businesses pay a percentage of the total cost.
The amount you choose to pay will depend on your own situation. First, think about how your contribution will affect your budget. Second, think about how it affects the desirability of your plan to your present and future employees.
Many businesses choose to have their employees make a contribution towards some of the cost, especially as health care costs and insurance premiums continue to increase.
There are three major types of health plans — managed care, preferred provider, and fee-for-service. The plan that’s best for your business is determined largely your business location, the physicians and hospitals available through the plan, the options offered insurance companies, and the constraints of your budget