Married couples share a lot of things, including health insurance coverage in some cases. If you want to switch to a spouse’s policy—or your spouse wants to enroll in yours—it’s usually an easy task to accomplish. However, it’s important to get the timing right and to know when you’re eligible for special enrollment periods.
There are many advantages to employing workers across state lines. Businesses can choose from a larger talent pool, and surveys show that remote employees are happier and more productive on average than in-office employees.
As we’ve discussed before, more and more businesses are expanding their operations to other states. Virtual workplaces, better connectivity, and remote technology allow today’s companies to recruit top talent regardless of location—a win-win for businesses and employees.
If you have workers spread across multiple states, you face unique challenges when it comes to providing your employees with health insurance. State-specific insurance requirements might make it difficult for you to cover all of your workers under a single plan. Fortunately, there are several ways to address this problem that may allow you to offer your employees the health coverage that they want.
Many people assume that individual health insurance, which is insurance you purchase on your own, is more expensive than group health insurance, which is a policy an employee gets through their company. So how much does individual health insurance cost? How does it stack up against company-based group health insurance? Data shows that individual health insurance is, on average, more affordable than group coverage. Furthermore, the passage of a new federal law in 2016 created a third health insurance option for small businesses to offer their employees that can help businesses fix their health benefit costs. Learn more about how individual health insurance stacks up against group in our free 2017 Small Business Health Insurance Reimbursement Report.
You probably already know that the cost of living varies greatly from region to region. Where you live dictates how much you pay for just about everything, from housing to the cost of dinner at your favorite restaurant. But did you know that your zip code also plays a role in the cost of group health insurance? According to a recent survey conducted by United Benefit Advisors (UBA), geography was one of several factors that affect the cost of health insurance.
Navigating the waters of group health insurance can be frustrating for small business owners. Not only are premiums expensive, but they are also constantly increasing, and the regulations are difficult for many small businesses to keep up with. If you are struggling with group health insurance, we have good news: There’s another option.
It’s becoming increasingly common for small businesses to drop their group health insurance coverage in favor of reimbursement plans like Health Reimbursement Arrangements (HRAs). If you’ve already elected to offer a group policy in 2017, it might not be too late to change your mind. You’ll just need to make sure you mind the details of your current contract and and get setup to administer your reimbursement plan with benefits software.
Many small business owners want to offer health insurance assistance, but aren’t sure how to do so. This desire leads to a common question among entrepreneurs: “Can I offer a health insurance stipend to my employees?” Healthcare regulations have changed quite a bit in the past few years, so let’s clear up some of the confusion surrounding stipends and healthcare reimbursement arrangements (HRAs).
Every small business owner ready to offer employee health benefits has to decide between offering group health coverage and letting their employees purchase their own individual health insurance plans. For many, it’s a difficult and complicated decision. There are many factors to consider when determining the best course of action for your company, but time and money are both finite resources. Here are some pros and cons of individual insurance reimbursement vs. group insurance to help you decide.
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. Zane Benefits, Inc. does not sell health insurance.