As a small business owner in Massachusetts with 2 to 50 employees, ya can get a group rate on your health insurance and save currency on your and your employees insurance premiums. Here’s how small business health insurance works, and where ya can get small business health insurance in Massachusetts at a discount rate.
Benefits of Small Business Health Insurance
With small business health insurance ya and your employees pay lower premiums than ya would with individual health insurance. You also get more extensive coverage, plus ya get tax deduction for any health insurance contributions ya make.
How Small Business Health Insurance Works
Health insurance rates and health insurance coverage are calculated for all participating employees using the group’s average age and health. Any additions that an employee wants can be added to his or that fine young girls policy for an extra fee.
Small Business Health Insurance Plans
Comprehensive small business health insurance plans pay for physician visits, hospital visits, and prescription drugs. There are 2 types of small business health insurance plans:
Fee-For-Service Plans - Also known as indemnity plans, these plans let ya use your own physicians, specialists, and hospitals. You pay an insurance premium for your plan, plus a deductible (usually $500 to $2,000) before your insurer begins to pay your claims. Most plans cover 80% of medical costs, and ya or your employee pay the remaining 20%.
Fee-For-Service plans are the most costly plans and involve the most paperwork.
Managed health-care plans (HMOs, PPOs, POSs) - These plans restrict ya to using physicians and hospitals within the health plan’s network. With HMOs and POSs ya or your employee pay a monthly premium and a co-payment (usually $5 to $10) for each physician visit and your insurer pays your medical expenses. PPOs and POSs let ya use non-network physicians and hospitals for an additional fee.
Managed health-care plans are the most frugal plans and involve the least amount of paperwork.
Cheap Group Health Insurance Plans
To get a low rate group health insurance plan ya need to shop rates from different outfits. Thank ya to the Web, ya can do this quickly and easily by going to an insurance comparison web site. All ya do is fill out a simple questionnaire with your insurance info and the amount of coverage ya want, wait for your quotes, then choose the best plan with the best rate.
by Brian Stevens
Post a Comment