Health Insurance Plans For Small Businesses

Betty asks…

When is the Health insurance for small businesses take effect?

I’m a small business owner who can not afford any health insurance and is considering to work for a big corporation part time just to have health insurance. If the Obama plan takes into effect, will it still be worth it for me to work part time just to get health insurance and save money or it won’t make any difference since as a small business owner I’ld still have to get health insurance.

Chris Station answers:

Unless you have at least 50 employees, you don’t have to buy health insurance for your employees. You can keep your private coverage.

Helen asks…

Need to buy small business health insurance for my employees in missouri, best plans please????

Chris Station answers:

I work for a small business, and they use the local Chamber of Commerce for insurance….which offers BlueCross BlueShield.

Mandy asks…

How low-cost are health plans for small businesses?

Small, fairly new security guard company wants to offer health insurance, especially to one key supervisor, but I was told the plan must be for ALL full-time employees, which is fine. Questions:
1) What are some competitive rates I should expect to find?
2) Do these plans come with a spouse option for those who want to include spouses?
3) How does the insurance company know that you offered to the plan to ALL employees? How would they have any idea?

Chris Station answers:

1. On average, in most states, a decent health insurance plan is going to cost an employer about $450 per month per employee, or $1500 per month for a family plan. Obviously, you’ll be passing SOME of that cost to your employee.
2. It’s entirely up to you, if you want to allow your employee to include a spouse or not; or children; or even if you want to include maternity coverage.
3. You have to send copies of your 941 forms – payroll reports – and declinations from all the employees on your full time payroll that did NOT accept the insurance.

Keep in mind, the minimum size for a group, is two employees in some states, and five in other states.

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