Group health insurance for small business FAQ
Small business owners have many of the same questions when they begin to consider heath care coverage for their employees. You’ll find answers to some of the most common questions here.
Call to contact a UnitedHealthcare representative.
With a small business health plan you can provide a valuable benefit to your employees. You can shop for coverage at any time during the year, request a quote from as many companies as you like, compare plans and choose the coverage you want to offer. You can do it on your own, or with the help of a health insurance broker.
If you have 50 or more full-time employees, you are required to provide health insurance or you will be penalized under the employer mandate of the Affordable Care Act. If your company has fewer than 50 full-time employees, you are not legally required to provide your employees with health insurance.
Small business health insurance costs are determined by your location (state), number of employees and how much you’d like to contribute to your employees’ coverage. You can get a cost estimate for small business health coverage in just a few minutes, and a more detailed quote by providing information about the employees you want to cover.
You can buy small business health insurance directly from an insurance provider, or you can work with a health insurance broker or agent if you want to save time. If you know what kind of coverage you’d like to offer and how much you can afford to pay, that’s a great start. Requesting an online quote for small business health coverage is a smart way to learn more before speaking with an insurance provider.
Commercial health insurance plans are administered by insurance companies, not the government, and may be purchased by individuals or as group coverage for a business. Medicare plans are not commercial health insurance plans; small business health insurance purchased from a company like UnitedHealthcare would be considered commercial health insurance.
At present, if you are a small business with fewer than 50 employees, you are not required to provide health care coverage. You may also choose to provide coverage to certain employees, but not all, if your decision is not discriminatory, and based on “bona fide employment-based classifications,” such as full- or part-time employment status, salary versus hourly wages, employee tenure or seniority, or job title.
Health insurance brokers help you find small business health insurance coverage that fits with your budget and the needs of your company and employees. Brokers, also known as representatives, work with many different insurance providers and can present you with a lot of options. Working with a health insurance broker can help you save time when shopping for small business health insurance.
Call 1-833-827-5227 to contact a UnitedHealthcare representative.
To qualify for a tax credit for providing small business health insurance, you must:
- Enroll in your state’s Small Business Health Options Program (SHOP).
- Employ fewer than 25 full-time employees, with an annual average employee salary of $50,000 or less
- Pay at least half (50 percent) of your full-time employees’ insurance premiums.
- Offer coverage to all full-time employees.