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Step 1
Evaluate the needs of your company and employees. Does the market demand that you carry health insurance for you employees in order to retain the best employees? If so what type of affordable business health insurance would most benefit your small group? Health only, or are dental, vision and prescription plans needed as well?
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Step 2
Examine what parameters the plan should have. Is a high deductible acceptable? Is a HMO better than PPO? What amount is acceptable for a co-pay? Each of these factors affect the overall affordability of the business health insurance plan.
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Step 3
Decide how much of the coverage the company is going to cover. Are employees covered 100% or 75% by the company? Are the employee dependents covered or does the employee pay this amount out of pocket?
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Step 4
Once the type of plan and the parameters of the plan are determined, it is time to start talking to brokers. Look for a broker that specializes in small group policies. These brokers will be able to compare several policies based on your criteria.
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Step 5
After the feedback and quotes are received from the broker, it is time to decide on a plan that best suits the needs of the company. Is the plan providing affordable business health insurance for your small group? If not reassess the needs vs wants of your company in steps 1 through 4 and determine what items can change to make the plan more affordable for your small group.
Comments
johnseretecdel said
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chrismoore said
on 9/21/2009 Great tips on how to get affordable business health insurance small group. I wonder how this will change with the new health care proposal? 5*'s and a rec.
walker7 said
on 9/19/2009 Very helpful! Thanks!
rkremer said
on 9/18/2009 Great tips for the times!
kristara said
on 9/18/2009 Very useful health insurance information 5*