No one can give you a definitive answer to that question without information on your employees and gathering quotes from different insurance carriers. Factors such as the geographic location of your business (base costs vary from state to state and even within states), the ages of your employees (very important in the small group fully insured market where community rating now applies), the funding approach you choose to use (fully insured vs self-funding which is becoming increasingly available and attractive to smaller groups), the health condition/male to female content & average age of your workforce (if you are going self-funded or have more than 50 employees), the plan of benefits and the insurance carrier quoting on your group are all variables that will yield different rate results.
As you can see, it's not a simple process but it is an important one as you can expect that providing group health insurance will be your second or third largest fixed cost in your business. So, making the right choices and carefully managing your program over time are crucial to maximizing the value you get out of your employee benefits program.
I bring nearly 30 years of experience in the employee benefits business to the service of my clients and would be honored to consult with you on your group's needs. Please feel free to contact me for a free consultation.
Owner, Best Health And Car Insurance Rates - Instant Online Quotes, US
As an experienced health insurance broker with a top-ranked website for 33 years, this question is discussed almost daily. I'll provide you with a short direct answer.
Without question, there are many affordable healthcare plans available to small business owners and their employees. The price will depend on many factors, including where you live, the type of business you operate, the number of workers etc...
And naturally, the type of benefits desired impact prices. By contacting an experienced broker for free quotes, you'll save time, money and an incredible amount of frustration. I guarantee it!
Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Health insurance for small businesses is known as group health insurance and it works very differently from individual coverage - there are many moving parts involved with putting together a group health insurance plan.
There are different types of programs available for group coverage and each business may have a different tolerance for what they're willing to take on in terms of price or what they're willing to offer to their employees.
Group health insurance quotes are based on the size of your business, the industry’s SIC code, age of employees, and average employee health (except in Maryland, which requires no medical underwriting).
So, in short, there's really no way to say what group coverage costs without going through that input first to create the quotes. There are no instant online quotes for group health insurance for these reasons.
To get a quote for group coverage, I recommend consulting with an experienced broker. We can shop for quotes from multiple companies for you and create a benefit structure that best serves the needs and budgets of your business and your employees.
Please feel free to contact me for help. Thanks very much.
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As you can see, it's not a simple process but it is an important one as you can expect that providing group health insurance will be your second or third largest fixed cost in your business. So, making the right choices and carefully managing your program over time are crucial to maximizing the value you get out of your employee benefits program.
I bring nearly 30 years of experience in the employee benefits business to the service of my clients and would be honored to consult with you on your group's needs. Please feel free to contact me for a free consultation.
Without question, there are many affordable healthcare plans available to small business owners and their employees. The price will depend on many factors, including where you live, the type of business you operate, the number of workers etc...
And naturally, the type of benefits desired impact prices. By contacting an experienced broker for free quotes, you'll save time, money and an incredible amount of frustration. I guarantee it!
There are different types of programs available for group coverage and each business may have a different tolerance for what they're willing to take on in terms of price or what they're willing to offer to their employees.
Group health insurance quotes are based on the size of your business, the industry’s SIC code, age of employees, and average employee health (except in Maryland, which requires no medical underwriting).
So, in short, there's really no way to say what group coverage costs without going through that input first to create the quotes. There are no instant online quotes for group health insurance for these reasons.
To get a quote for group coverage, I recommend consulting with an experienced broker. We can shop for quotes from multiple companies for you and create a benefit structure that best serves the needs and budgets of your business and your employees.
Please feel free to contact me for help. Thanks very much.