Group Health Insurance for Employers

Why Choose a Group Health Plan?

Group health plans provide several benefits for both employees and employers:

How Does It Work?

Group health insurance operates similarly to individual health insurance policies. You and your employees pay a monthly premium, and in exchange, your insurance provider pays for a portion of covered healthcare services, which can range from regular checkups to treatment for long-term illnesses.

The primary difference between individual and group health plans is cost-sharing. With group plans, employers share premium expenses with employees to provide cost-effective healthcare solutions for their workers.

Understanding Group Health Insurance Costs

While it’s important to choose a health plan that meets all of your coverage requirements, it’s also important to ensure your insurance policy fits your budget. Group health insurance costs vary depending on several factors, including:

Your group health plan can be customized to meet your financial requirements without sacrificing coverage or quality of care.

Employer Health Insurance Requirements

The ACA requires businesses with 50 or more full-time employees to provide health insurance to all of their workers. Moreover, businesses are required to share group health plan costs with their employees. In most states, this cost-sharing amounts to a minimum of 50% of each employee’s health insurance premiums.

Small businesses with fewer than 50 full-time or full-time equivalent employees, however, are not required by the ACA to provide health insurance in most states. If your business does meet this exception and you still decide to offer group health insurance to your employees, you must offer coverage to all of your full-time employees. While you are not obligated to offer coverage to part-time employees, you must provide insurance for all part-time employees if you offer it to at least one part-time worker.