Options For Health Insurance For Small Business Owners

Health insurance for small business owners can be a major expense. While large companies incur very little cost to add one more employee to a policy, small businesses face extremely high rates just to keep one or two employees insured. Because of these high costs, you need to make efforts toward affordable health insurance in order to stay afloat.

High Deductible Options

Opting for high deductible health insurance for your employees can keep your costs down. You are asking your employees to take a greater out of pocket expense each time they go to the doctor, though. Consider reimbursing a part of this. You may find it is still cheaper than having costly insurance.

Employee-Driven Options

Put the power to reduce expenses in the hands of those it directly affects. Offer to reimburse 50% of your employees expenses, and leave the rest up to them. This way, if they choose to opt for PPO health insurance, which is more expensive, they have to contribute a lot more than if they opt for cheaper HMO options. Similarly, employees can choose to use nurse hotlines instead of going to the emergency room. Keeping claims low in this way will keep their costs down and yours will follow.


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