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Group Health Insurance for Small Businesses Aberdeen SD

Even better, group insurance has tax advantages too. Employer contributions to a small business dental and health insurance plan are generally 100% tax deductible for the employer and employees will likely save on payroll taxes. Everyone wins!

Simplified Life Insurance
(605) 413-4133
4300 S. Louise Ave. STE 101
Sioux Falls, SD
 
American Family Insurance
(605) 886-8240
306 9th Ave NE
Watertown, SD
 
Farm Bureau Financial Services Mark Giziewski
(605) 665-8343
603 W 21st St
Yankton, SD
 
Freimark Associates Inc
(605) 882-1688
PO Box 784
Watertown, SD
 
Kundert Williams Insurance Agency
(605) 256-6608
122 W Center St
Madison, SD
 
Hagen Insurance Agency
(605) 225-6260
404 S Lincoln St
Aberdeen, SD
 
Insurance Services (Todd Graber)
(605) 925-4128
913 E 6th St
Freeman, SD
 
Smith Insurance Agency
(605) 363-3888
1003 W 2nd Ave
Humboldt, SD
 
Olson Group the
(605) 335-7777
PO Box 89727
Sioux Falls, SD
 
Wilde Dean L Agency
(605) 338-8951
115 W 39th St
Sioux Falls, SD
 

Group Health Insurance for Small Businesses

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Group Health Insurance for Small Businesses

Small business? Do you have between 2 and 50 people in your organization? With as few as two you may qualify for a group dental or health insurance plan.

Small business dental and health insurance has many benefit's. Besides providing medical care for yourself and your employees, a group insurance plan helps spread the financial risk between all the members. Most of the time, this will mean lower premiums and better coverage for the individuals in the group.

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Even better, group insurance has tax advantages too. Employer contributions to a small business dental and health insurance plan are generally 100% tax deductible for the employer and employees will likely save on payroll taxes. Everyone wins!

How does this group insurance work? A small business dental or health insurance plan provides it's members with a set policy coverage. Individual employees may be able to add policy riders and additional coverage to fit their specific needs, but the basic policy format will remain the same for everyone in the group.

Likewise, although small business dental and health insurance comes in a variety of shapes and sizes (fee-for-service, HMO, DHMO, PPO, POS to refer to the most common), the format your organization chooses will apply to all members. Given this, it makes sense to talk to your employees and determine if the group as a whole has a preference for the type of dental or health plan chosen. There are pros and cons to each one.

Remember that group health or dental insurance cannot be made compulsory. However, you may have to maintain a minimum number of participants in order to guarantee coverage. This is where getting the feedback of your employees regarding their preference can really help in maintaining the plan.

Will you company be able to afford this? Well, group dental or health insurance is less expensive than the cost of a bunch of individual policies added up, but it's not cheap. As the employer, you will have to be prepared to pay some percentage of an employees premium. This could be as high a...

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South Dakota State Mandated Health Insurance Coverage

Medical insurance benefits that insurers must provide include: alcohol/substance abuse, breast reconstruction, chiropractor, dental anesthesia, dentist, dependent coverage (including newborns, adopted children, dependent students/adults, disabled dependent adults), diabetes self-management and supplies, emergency room service, licensed health professional, mammography, maternity minimum stay, mental health, nurse (midwife, practitioner, anesthetist), off-label drug use, optometrist, osteopath (D.O.), PKU/metabolic disorder, podiatrist, prostate cancer screening, psychologist, social worker

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