To keep operations profitable, business owners must work hard to ensure all facets of their businesses are accounted for and in good standing. However, at the end of the day, your company’s success is directly tied to your employees’ productivity, morale and dedication. This being the case, it’s important for you to do everything in your power to keep your staff happy and healthy, which is where group health insurance comes in handy. Providing group health insurance for the workers at your company is one of the best ways to ensure a healthy team and a healthy business.
Group Health Insurance 101: The Basics
The modern health care industry has always been complex and fairly difficult to navigate. Since the Affordable Care Act was enacted, however, it seems as if matters have become even more convoluted. At its most basic level, group health insurance is health care coverage an employer provides for business owners, employees and sometimes their dependents.
The insurance company will use various factors to determine the final monthly cost of a chosen group health insurance plan (e.g., business size, employees’ ages and business location). The team here at AIA Insurance is happy to help employers pinpoint their business’ needs with group employee benefits options including:
- Medical
- Vision
- Life
- Dental
- Long-term disability
- Short-term disability
At AIA, it is our privilege to help you choose the right group employee benefits plan that suits your needs, whether you run a large or small business.
Who Qualifies for Group Health Coverage?
Generally speaking, if your company has at least two full-time owners, partners and/or employees, your business qualifies for group health coverage—provided that you can supply the appropriate legal documents. If you are a small business with less than 100 employees, you are not required by law to provide health insurance. But if you choose to not offer health insurance, it is essential to encourage your employees seek their own health coverage to keep them from facing penalty fees.
