Small Business Health Insurance - Coverage for Your Employees Lafayette LA
Baton Rouge, LA
Baton Rouge, LA
Title: CERTIFIED FINANCIAL PLANNER
Company: The Olivier Group, LLC
Investment Advisor Rep: Yes
Northeast LA University/ Finance minor Economics
Years Experience: 14
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Small Business Health Insurance - Coverage for Your Employees
Small Business Health Insurance
Own a 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.
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, ...
Louisiana State Mandated Health Insurance Coverage
Medical insurance benefits that insurers must provide include: alcohol and substance abuse, ambulatory surgery centers, ambulance transportation and services, attention deficit disorder, audiologist, autism, bone marrow transplant, bone mass measurement, breast reconstruction, cancer pain medication therapies, cervical cancer/HPV screening, chiropractor, cleft lip and palate, clinical trial (cancer), colorectal cancer screening, dental anesthesia, dentist, dependent coverage (including newborns, adopted children, dependent/student adults, disabled dependent adults), diabetic supplies, drug abuse treatment, emergency room service, facility (public or other), family therapist, first nurse assistant, hearing aids for minors, infertility services, in vitro fertilization, mammography, marriage therapist, mastectomy (including minimum stay), maternity minimum stay, mental health, occupational therapist, off-label drug , optometrist, orthotics, physical therapist, PKU/metabolic disorder, podiatrist, prostate cancer screening, prosthetics, psychologist, rehabilitation service, social worker, speech therapist, step therapy, telemedicine, well child care