How to Pick the Best Small Business Health Insurance

| February 12, 2019

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How to Pick Small Business Health Insurance. Determine your budget and the premium percentage you’d like to cover. Gather information about your business and employees. If you’re self-employed, consider an individual plan or (in some states) a group plan of one. Get plan options using a broker, PEO, purchasing alliance, or SHOP exchange. Choose a plan type, such as HMO, PPO, or POS. When comparing plan options, consider your employee demographics and health needs. Figuring out small business health insurance can feel like one of the most difficult and stressful parts of running your own business. Everyone should have health insurance coverage—but the rules and available options are hard to understand. As a small business owner, you might feel like you’re at a particular disadvantage because you don’t have the backing of a huge HR department to help you. And that’s reflected in the numbers. According to the Bureau of Labor Statistics, 88% of employers with more than 500 employees offer health insurance, but only 55% of employers with fewer than 100 employees offer it.

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