Unique Content Article: A Close Examination On Small Business Group Medical Insurance

A Close Examination On Small Business Group Medical Insurance

by Jeannie Monette

The greatest asset for any business is its workforce. A medical cover is one of the factors to recruit and also retain employees. This makes it some sort of an investment to the organization. Understanding the often complex small business group medical insurance plans is difficult for most employers.

To be eligible for a group medical cover a company is supposed to meet a certain criteria. The organization should have at least two owners and/or employees who are all full time. The business should be legitimate with the ability to raise the lowest employer contribution usually half the premium.

Group health cover may be in two categories-indemnities and managed care plans. Indemnity plan gives a broader choice of health care providers. They are not however popular anymore. A managed care plan provides cheaper alternatives and less paperwork.

The monthly cost is determined by the insurance company once the application has been reviewed and approved. There is a list of factors considered to assess the group. They include the size, health of the employees so as to get the premium rate. The monthly rate is always the same whichever way you apply.

The employer pays at least 50% the value of premium to be payable by the employee. The worker then pays the rest of the cost and also the full amount for the dependants. The value the employer pays may vary between states and insurance companies. In some cases the employer may decide to pay more than half the value of the premium and sometimes the costs for the dependants.

The steps for selecting a plan that works for you and applying for it is simple. You begin by talking to insurance companies about the group that is to be covered. Review quotes from different companies offering the medical cover. Once you select a plan you may begin the application process.

Businesses with less than 50 employees are not required to provide health cover. However there is tax credits provided if the company does. Starting 2015, businesses with more than 50 full time employees will be required to provide a medical insurance otherwise face a tax penalty.

Remember dental and vision covers are not included in the set medical cover. However, they can be added under an arrangement with the insurer and extra payments. It is the obligation of every business to encourage its employees to seek a medical indemnity whether providing it or not. Employees who are motivated and healthy are a sure way to grow the business.



Jeannie Monette likes writing reviews about insurance providers. For more details about Southern California small business medical insurance providers or to discover <a href="http://www.mercadoinsuranceservices.net/insurance-services/employee-benefits">small business group medical insurance</a> services, please visit the <a href="http://www.mercadoinsuranceservices.net">MercadoInsuranceServices.com</a> website now.

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New Unique Article!

Title: A Close Examination On Small Business Group Medical Insurance
Author: Jeannie Monette
Email: articles@zerocompany.com
Keywords: California Large Group Medical Insurance,southern california business medical insurance,southern california business health insurance,california business medical insurance,california business health insurance,medical insurance providers,health insurance services,medical insurance,health insurance,business
Word Count: 416
Category: Insurance
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