Health Insurance Solutions for Small Businesses
Small business owners with fewer than 50 employees may feel like a small group health plan is out of reach—that it’s too expensive, requires too much employee participation or is too difficult to manage. There are solutions for small businesses, now, and on the horizon, however.
Blue Cross of California has developed a program called BeneFits, specifically for small businesses. There are five different plans to choose from with varying levels of coverage, from catastrophic (hospital-only) plans, to comprehensive PPO and HMO plans. Here is a basic idea of what the plans cover:
- Hospital BeneFits — A low-cost plan that covers hospital visits and in-network prescription drugs
- Hospital BeneFits Plus — Covers hospital and part of doctor visits, up to a certain limit
- Hospital BeneFits Preferred — Covers the same as BeneFits Plus, as well as dental and vision care
- PPO GenRx Plan — Covers doctor, hospital and prescription drugs, with copay, and $4,000 maximum out-of-pocket costs
- Power Select HMO — Covers doctor and specialist visits and hospital visits, with a $2,250 annual out-of-pocket maximum
For more detail about exactly what these plans cover, visit our BeneFits page.
Another option for small business owners is the Small Business Health Option Program (SHOP) that will be available under the Affordable Care Act (ACA). Businesses with fewer than 50 full-time equivalent employees are eligible to enroll, and those with fewer than 25 full-time equivalent employees may qualify for a tax break to help pay for the cost of coverage, depending on how much their employees make.
Benefit Packages has been helping Californians find affordable health and dental insurance that suits their needs and budget for over 20 years. We will be a SHOP-certified agency and can help small businesses find a suitable plan when the time comes. Call us or visit our website for more information at 1-800-356-3615.