Group
Health Insurance
coverage can be
provided by all sizes
of businesses, in all
stages of growth ...
existing or
startup. At some
point all business
owners are confronted
with the question of
whether or not they
should provide a group health
insurance plan to
their employees.
Group Health
Insurance Plans are
the same as for
individuals but come
with some major
advantages!
 |
Coverage
is guaranteed.
( including
existing
conditions) |
|
Additional
benefits that
go beyond
actual health
insurance
coverage. See
more.
|
Is your business
eligible for
California group
health insurance
coverage?
Under California
law AB1672, small
business employers are
guaranteed group
health insurance
coverage should they
choose to purchase
it. A
"small employer
is defined as a
business with 2 to 50
employees." If a
husband and wife or at
lease two people are
self employed, they
may be eligible to
receive group health insurance
coverage.
Some of the rules for group
health insurance
eligibility are
the same for all the
carriers and some
vary:
|
All
carriers
require
that a
company
must be a
business
for at
least six
weeks.
|
|
Companies
must have a
minimum of 2
actively
working
participants. |
|
Each
carrier
insists
that at
least 75%
of
employees
participate.
|
|
Employers
must pay
50% of
employee
only
premiums. |
|
Coverage
may be
obtained with
a corporation,
a partnership,
a business
license or a
fictitious
name
statement,
quarterly wage
report with at
least two
people listed
on the
forms. |
What
is involved in
applying for a
California group
health insurance plan?
Applications
require a list of
participating
employees with some
degree of medical
information on each
person plus their
dependents. You
will also need to list
their names, ages,
gender and residing
zip codes. Since coverage
is guaranteed this
information is used
for the pricing of
your policy. See more on this
here.
In addition to a
list of participants,
you will need to
submit proof of your
business status. This
includes as
appropriate:
| Corporation |
Articles
of
Incorporation
(must
be filed in
the state of
California)
OR
Statement
of Information |
| LLC |
Limited
Liability
Company
Articles of
Organization |
| Sole
Proprietor |
Fictitious
Name Statement
AND
/ OR
Business
License |
What
are the advantages of
providing your
employees group health
insurance
coverage?
|
|
Attracts
& Keeps
Employees:
Providing
group health
insurance
coverage is a
benefit in
attracting and
retaining
employees. |
|
|
Guaranteed
Coverage:
Provides you,
an employee
and/or
dependent with
guaranteed
health
insurance for
existing
medical
conditions., |
|
|
Tax
Deductions For
Employers:
All
expenses an
employer
incurs related
to health
coverage are
100% tax
deductible. |
|
|
Tax
Deductions For
Employers
&
Employees:
The
HSA plans
provide for
tax-sheltered
funds for
medical
expenses to be
taken from an
employees pay
check.
Employers may
make
contributions
to these funds
and receive
payroll
tax benefits.
More on
this is
discussed
here. |
How
do you choose a group
health insurance
plan?
California Group Health Insurance choices are many and are offered in "tailored" packages from most of the major insurance companies.
Your financial
involvement can vary
based upon your needs
and interests.
The best way to begin
the process is to know
the type of benefits
you and your employees
need. Small business group insurance plans are flexible and offer choices that address individual financial requirements as well as the medical coverage needs of both employee & employer.
Some of the things to find
out about your employees
include:
|
Are
they already covered
under a spouse's
policy? |
|
Do
they require
frequent medical
care or do they
seldom visit a
doctor? |
|
Are
their health
priorities on
preventive care,
prescription
coverage or coverage
in case of
emergencies? |
Insurance
Advisors is here to
personally meet with
you and identify
and implement the
carrier with the best
California group
health insurance plan
for both you, the
employer, and all of
your employees.
Companies with
employees are now able
to offer benefits that are competitive with the larger companies. You can keep great employees and attract new talent to your small business with
a group
health insurance plan tailored
for you. |
