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Important Steps for Small Business Health Insurance

Jan 8th, 2010

small businessThe small business entrepreneur in search of medical insurance for himself, his family, and perhaps twenty or twenty-five independent employees can be a very difficult task. The medical coverage keeps changing and reducing yet the premiums keep steadily rising. What is the small business entrepreneur suppose to do? How do you even begin to find health insurance that is both comprehensive and affordable?

Knowing what you want in an insurance policy to begin with is very helpful. Do you need more of the day-to-day medical care? Is hospitalization for you? Do you want to add prescription drug coverage?  Do you require dental coverage? How much are you willing to give up, forfeit? These are only a small portion of the questions you would like to find the answers.

1                  Be aware of the type of health care benefits you and your employees need

2                  Collect all pertinent information to receive an accurate quote

3                  Receive multiple price quotes for coverage from a few companies

4                  Review the types of small business health plans available

5                  Take advantage of the annual tax credit for subsidizing premiums

Inquire as to what is most important to you, your family, and employees. Are any of your employees under a spouse insurance policy? Do your employees make regular office visits or is catastrophic hospitalization more of an issue? To answer many of these questions it means you will have to discuss the type women’s health care and men’s health care that is most important to your employees.

When you finally make a few telephone calls to try to receive some information have all the necessary information ready and in front of you. Shopping around for medical insurance is a good thing but it is also time consuming. You can also go through the internet and receive a price quote on the information you are willing to enter.

When that is not enough and you, your family, and your employees are looking for something better try the group insurance plans instead of the individual insurance plans. The group insurance plans may better suit the objectives you are attempting to accomplish. Low cost health insurance is out there for those ambitious few who are willing to do the research. Something else for you to research is the Health Saving Account or HSA. Many small business employers find this is the best course for all of their employees.


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