Tips to buy small business health insurance in Florida
Florida small businesses having 2 to 50 employees are considered for a particular type of group health insurance known as small business health insurance plan.
With the implementation of healthcare reforms,
this product has got a major boost as the reforms has a clause whereby small businesses are offered tax credits for providing health insurance to their employees.
Similar to the root principle behind a group health insurance policy, the idea behind small business health insurance plan is to spread the financial risk among all the members. This means that the premium cost of the plan would be lowered and all the employees would be able to receive extensive coverage.
By law, all the small businesses in Florida can avail health insurance coverage provided they fulfill the minimum requirements related to number of employees and salary caps.
It goes without saying that health insurance for small businesses in Florida is a very important product for insurers as well as for business owners. The government has been trying to boost the significance of this product and it has been successful to some extent at least.
The cost of small business health insurance in Florida
Small business employers need to make a contribution in the premium paid by the employees, which is similar to any other group health insurance policy. This portion could fall between the range of 20-50% of the total premium cost. Whereas group health insurance plans obligate the employers to provide coverage for the dependents of the employees, the health insurance for small businesses does not mandate it. It remains the choice of the employer whether the dependents would be covered or not.
Some tips to buy small business health insurance policy in Florida
• Small businesses should remember that there is no obligation on their part to buy a particular health insurance plan. Business owners and enrollees should not hesitate to ask questions and clear their doubts before signing on any particular health insurance plan.
• Employers should remember that they will be making contribution in the payment of premiums for all the employees who would sign for health insurance. Therefore, employers should shop around and ask for multiple options of health insurance plans.
• It is always advisable to contact the insurance department of Florida to make sure that all laws and rules are understood. Moreover, the department also helps in checking the financial stability and authenticity of a particular insurer.
