Joe Salvador
There are several types of group health insurance available to small business owners that can save money. Review the list below and learn about I.C.H.R.A's, Self Funded Plans, Reference Based Pricing Plans, Minimum Essential Carrier Plans and traditional Major carrier plans. Finding the right health insurance for your small business that satisfies your employees and fits your budget and goals is vital. This list is the first step in learning what your options are to help your small business grow!
Source: https://www.smallbusinesshealthinsurancecolorado.com/
Is also known as an individual coverage health reimbursement Account. It allows employers to reimburse their employees for their individual coverage health insurance plans. For small businesses (3-49 employees) it has no minimum participation requirements and there is no minimum amount the employer has to reimburse. Learn more by clicking the link below. I.C.H.R.A.
Self funded plans are now available to small businesses. The primary benefit for the small business owner is that, in years when employee claims are low. The business can re-coup a percentage of the premium costs of the group. Even a business as small as ten people can potentially receive a refund of ten or even twenty thousand dollars at years end.
Reference Based Pricing or RBP is now available to every small business in Colorado making health insurance more affordable. RBP's eliminate provider networks, allowing employees to see any healthcare provider they want. It is an optional add-on feature to a a self funded plan and it has many benefits to help your small business save money.
Need Small Business Health Insurance that is affordable for your Colorado based business? Take a look at a M.E.C. plan. M.E.C. stands for Minimum Essential Coverage and it is the least expensive health insurance options for small businesses. It covers preventative services and offers low copays for several types of doctors office visits. It does not have any catastrophic coverage however.
Major carrier plans are the best option for most small businesses if budget is not the most important concern. Companies like Anthem, Aetna and Kaiser Permanente offer plans that are loaded with benefits that will help your small business attract and retain the top tier talent in your vertical.
