Health insurance is one of the best benefits to offer your employees, and many businesses are required to provide coverage under federal law. Unfortunately, group health plans can be confusing and overwhelming for small business owners providing insurance for the first time. Below are answers to a few common questions about these plans.

Answering Common Questions About Group Health Insurance

How does group health insurance work?

An employer purchases a group policy and then decides which policies to offer employees. The premiums are paid jointly by the owner and employees, and most states require employers to cover at least half of the monthly coverage costs.

What does group health insurance cover?

Insurers offer a wide range of policies, so you can tailor coverage to meet the needs of your employees. However, group policies must provide certain benefits, such as annual doctor’s exams, maternity care, and prescription drugs.

Are all businesses required to offer health insurance?

Under the Affordable Care Act, only businesses with more than 50 employees must provide health insurance to their workers. However, smaller companies who want to offer this benefit can find affordable options through the Small Business Health Options (SHOP) program.

Can I offer health insurance to some employees and not others?

The law requires that all employees receive the same health insurance options to ensure everyone gets the necessary coverage. This means that if you offer coverage to one full-time employee, all other full-time workers must receive the same benefit.

Navigating your group benefits can be confusing, which is why Somerset, KY, business owners rely on Toohey Insurance Service. Whether you have one full-time employee or hundreds of staff, their team of dedicated professionals will identify the best options and help you choose a plan for you and your workers. Visit their website for more on their health insurance options, get more tips and advice on Facebook, or call (606) 678-0540 today to request your free quote.