Small Business Health Insurance

Even in today’s economic climate, small businesses are thriving and doing well financially. They are standing tall against other larger brick and mortar corporations despite their smaller overhead. And when a business owner does well, he or she wants to keep the best employees around. Small business health insurance is essential. An employee will enjoy his or her monetary payday, of course, but an added incentive such as health insurance is always well received.

Small business health insurance is sponsored by the employer of a workplace and covers the business owner, employees and their dependents (in most scenarios). Many Americans do have insurance through their own workplace or through a spouse’s employment but some smaller businesses don’t always offer insurance because it might be too high a cost for them. Despite the tax incentive to do so, some smaller companies don’t see employee coverage as beneficial.

It’s rather easy to create a small business health insurance plan. Typically the employer will pay 50% (or more) of his or her employee’s medical insurance premium, while the employee pays for the remainder.

Small business health insurance is a great incentive for keeping the best employees around. They feel more appreciated and taken care of. The premium paid for by the small business is tax deductible as well, so despite the cost of paying for insurance, savings are also in order. There is also a nice sense of responsibility and pride in knowing a plan is covering an employee and his or her dependents (who might be desperate for health coverage).

Comparing quotes and companies who offer insurance is essential. No small business owner should purchase a plan without thorough research. Entering a zip code in the above box is an excellent way to start the process of researching health insurance information.

Learning whether or not one’s company qualifies for eligibility is easy. A small business owner must consist of at least two full-time owners, officers, partners, and/or employees (as verified through tax statements). Also, the business applying for small business health insurance should be a legitimate business entity with either a license, articles of incorporation or articles of organization. Third, the small business must meet the minimum employer contribution set by the insurance company.

Having met the above criteria, a business may acquire small business health insurance for everyone employed in the company (including the owners.) And with insurance in place, there is no telling what the ceiling of success will be.

Although there are no guarantees that a small business will succeed in this economy, many do rather well despite the latest news and polls. It’s worth the investment in small business health insurance just as it’s worth investing in the best employees who will be the liaisons between owner and clientele. A happy employee is more invaluable than a cheap employee as people know their own self-worth. Having an insurance plan offered is a great way in keeping the bond of the employer to employee strong and in keeping those running the business as healthy as possible.