Small group health plans are an employer sponsored health coverage, with costs usually being shared between the employer and the employees. An alternative to the individual and family plan, small group health plans have benefits that individual and family plans do not offer. Small group provides coverage for the employee as well as their family members. In a small group, individuals cannot be denied coverage due to medical history and there is no individual underwriting in small group coverage.
Small group also offers special tax incentives to employers, worth up to 50% of your contribution if you pay half of your employee’s total health insurance premiums and pay an average annual wage below $50,000. The money paid towards the premiums qualifies as a business expense and is tax deductible. On the other hand small group health, individual plans can be tailor made to fit the needs of the individual. For small group plans it is the employer that decides which insurance carrier, and the employees choose a plan within that carriers options that best suits their needs. If you are currently providing small group coverage. as long as the coverage chosen is a Qualified Health plan, meaning it provides the minimum standards set forth in the Affordable Care Act, you will not have to change plans.
If you don’t currently offer health insurance benefits, you will not be penalized as long as you have fewer than 50 FTE employees. Employers must provide current and newly hired employees with a Notice of Marketplace Coverage Options (this form is for employers currently offering coverage).
Please click here to fill out our Small Group Quote Request form. You can fax it to 800.767.0871 or email it to firstname.lastname@example.org