Small Group Health Insurance

Group Health Insurance Simplified…

Health insurance continues to be one of the hottest topics of conversation in Tennessee.  From individual plans to group plans, changes are occurring rapidly in our market.  Now that individual plans are limited to one carrier in most of the state, it may be time to look for a group plan for your business!

Traditionally, there have been two major roadblocks encountered by small business owners looking for group health insurance:

• Employer contribution requirements
• Employee participation requirements

Employer Contribution Requirements

Group insurance plans can often have an employer contribution requirement which means that the employer has to pay part of the employee’s premiums each month.  This has typically been at least 50% of the employee’s premium.  For 2018 plans that are effective January 1, 2018, we have access to a carrier that is waving the employer contribution requirement!

Employee Participation Requirements

Group insurance plans have also required that a certain percentage of eligible employees participate in the plan.  For example, if you have 10 eligible employees, 5 of them were required to participate in the health insurance plan.  Once again, however, for 2018 plans effective January 1, 2018, we have access to a carrier that is waving the employee participation requirement!

What does this mean for YOUR business?

As long as you have two people enrolled, we can offer a group plan for your employees!  The two people can be two employees, or an owner and an employee.  In some cases, it could even be you and your spouse.