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About Small Business Health Insurance

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From Quick Guide: Overview of Health Plans

Summary: Small business health insurance can often be obtained for a discount, provided that there is 75 percent participation in the insurance plan. Attract a high quality level of professionals to a small business by obtaining health insurance with advice from an insurance broker in this free video on insurance.

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By John Pinelli
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John Pinelli is an insurance representative for Northwestern Mutual.read more

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Video Transcript

"Small business health insurance can be obtained by small types of businesses and small businesses will typically look to obtain some coverage for some or all of their employees so these plans will require a certain percentage of participation, typically around 75% participation is required within the plan. And the nice part about these group plans is that even small companies can go out and obtain health coverage for affordable rates, they can get some group type of discounts. They can have coverage that is specifically tailored to their individual employees and the types of families, age, gender, etcetera of the employees that they have. And these plans can be tailored specifically to meet those needs. Now the benefits that you receive, the benefits that you pay for, the monthly premiums paid by the business are tax deductible. So the company can deduct that from the income that they take in in order to pay for this coverage and can provide their employees this coverage at a discounted rate to them overall. Now an advantage of having health insurance, even for a small company is that you're able to attract and retain high quality level of professionals. Often times people when looking at compensation will take jobs that are lower paying just because of the benefits that they provide through that job. So it's important to remember that you can obtain some tax advantages and that you're able to provide your employees with the benefits that will help meet their individual needs."

eHow Article: About Small Business Health Insurance

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