The Best Group Healthcare Insurance Options for Small Businesses


If you run a small business, the decision to provide health care for your employees is one of the most important that you’ll make. You don’t technically have to provide group coverage for the people who work for you, but it’s often wise to do so anyway. If you don’t, your employees may become disgruntled and look for jobs elsewhere. Providing attractive group healthcare insurance is an excellent way to attract top talent and retain key personnel. However, it can also be expensive. That’s why it’s important to learn about your options and choose the most cost-effective plan available. Hopefully, you’ll be able to save money while making sure the people your business relies on are adequately covered.


Your Options as a Small Business

 Once you’ve decided to purchase group healthcare insurance for your employees, you’ll want to know how to do it. The first thing you’ll have to consider is the level of coverage you’re willing to provide.

Group healthcare for small businesses is divided into four different classes: Bronze, Silver, Gold, and Platinum. As their names imply, each of these categories provides an increasing amount of coverage (and expenses tend to rise with each category). Bronze plans typically cover about 60% of an average employee’s medical costs, while Silver plans cover 70%. 80% of average expenses are covered under Gold plans, and 90% under Platinum plans.