Many companies offer health insurance to their employees, but not all have an obligation to do so. In fact, companies considered “small employers” (or those with fewer than 51 employees) do not have to offer health insurance to their staff. However, it is worth noting that many small businesses do offer group health coverage because it creates a powerful incentive for valuable employees to remain with a company instead of looking for other jobs.
Various Levels of Coverage
If you happen to be a small employer who does offer health insurance, it will fall under one of four categories: Bronze, Silver, Gold, or Platinum. Bronze plans cover about 60% of a given employee’s medical expenses, Silver plans cover 70%, Gold plans cover 80%, and Platinum plans cover 90%. These percentages apply to average medical costs faced by employees under the group coverage, not specific cases, which means that employees may end up paying more out of pocket for conditions that incur larger-than-average expenses.
