Small Business -Employee Benefits Quote

health insurance for small businesses

The Small Business Administration can classify your business as small if it has up to $35.5 million in sales or up to 1,500 employees, depending on the industry.

If your business falls within this category we are here to serve you.

Whether your business is under 50 employees or over, the process to start or to change your health plans is the same. It starts with an employee census.

New plans can start at any point during the year.

Request a census form to be sent to you.

Providing a census is the only way that you will be able to know the costs and make a decision based on real numbers.

It is no secret that employees favor companies that offer health insurance versus working for a business that does not.

As a small business employer, you also know that you are constantly competing with larger corporations for qualified employees that offer health insurance and other benefits.

The benefits to your business for offering health, dental, vision, disability, and life insurance to your employees is a more stable workforce. Also, perhaps harder to document but arguably true, employee morale is higher when the employer offers benefits, leading to higher productivity.

Under 50 Employees (50 FTE)

For businesses and organizations with 2 to 50 full-time equivalent (FTE) there is no requirement to offer a health insurance plan to employees. FTE is a figure that accounts for full-time employees (those who work 30 hours per week), and part-time employees, to determine the size of your workforce.

Over 50 employees (50 FTE)

Businesses and organizations with more than 50 FTE are considered large employer, per the Affordable Care Act, and have the option to either offer a “Qualified Health Plan” to all eligible employees or pay a penalty. The penalties for not offering a plan start at $2,000 per employee, but there is a formula that reduces the amount of the penalty for the first 30 employees.

How we can assist you

Working with us, your broker-agent, does not increase the cost (premium) of the plans. The insurance companies pay the brokers and agents commission for facilitating the enrollment process. Most insurance companies will refer business to a broker.

What we do for your business:

  • Assist you in major medial plan selection:
      • HMO vs. PPO
      • Self-funded vs. fully insured
      • Metal level: Bronze, Silver, Gold,
  • Employee benefits package design
      • Percentage of employer vs. employee pay
      • Dental
      • Vision
      • Disability
      • Life
  • Employee enrollment
      • Onsite one-on-one enrollment sessions
      • Bilingual enrollment (Spanish)
  • Compliance: ERISA and the DOL
  • Payroll deductions
  • Determine eligibility for The Small Business Health Care Tax Credit, worth up to 50% of the employer’s contributions towards premium costs.

Contact us for more details on how to implement your health plan and stay in compliance with the current healthcare rules.