How To Qualify For Group Health Insurance
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For new group health insurance plans, you need a minimum of 2 employees and generally have to be in business for at least a year. Health insurance carriers will typically ask for wage reports to prove eligibility, organization papers to prove existence, and applications from the company to get the process started. The great thing about group health insurance in California is that it is guaranteed issue for companies less than 51 employees. Meaning, you do not have to worry about going through medical underwriting. You will be approved. And we are here to help your company every step of the way.
Types of Plans For Group Health Insurance
Because carriers prefer to issue health insurance policies to groups rather than individuals, the plans they offer are often more favorable and affordable. Their is less risk for an insurance carrier because it is spread across more individuals. Just like individual policies, group health insurance plans offer HMO, PPO, POS, HSA, and HRA options. The advantages are that group health insurance plans have better benefits and better rates than individual private plans. Meaning, your premium dollars will go farther under an employer-sponsored plan. Additionally, most group health insurance plans cover maternity care.
Plans That Make Sense For My Company
Depending on the size, demographic and budget of your company, their are many different plans to choose from and offer your employees. Sometimes, for instance, younger employees do not need the richest health insurance plans so a high-deductible plan might make the most sense. In contrast, sometimes you will do better for your employees by offering a set of options if your company has a mix of younger and older employees. For the small group segment (2-51 employees), most of the premium cost is age-driven, so call us and we can help you decide which plans make the most sense for your company.
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