Group Health Insurance

Group Health Insurance

A small business with less than 50 employees can obtain group health through the Marketplace or ACA(Affordable Care Act). There are certain criteria you should be aware of if you chose this option for your health needs.. Health plans limit enrollment to the open enrollment period to discourage only sick people signing up for health insurance while healthy people do not. This is called adverse selection. It skews the amount of risk a health plan takes on when insuring someone, so the entire health insurance industry tries to prevent it. Open Enrollment generally occurs during the fall of each calendar year.

There are a few exceptions allowing people to enroll in health insurance outside of open enrollment:

  • Initial eligibility period
  • Special enrollment period
  • Medicaid and CHIP

Group Insurance health plans can be obtained through the private market as well.  They provide coverage to a group of members, usually comprised of company employees or members of an organization.  Private group health insurance plans are designed to be more cost-effective for businesses. Employee premiums are typically less expensive than those for an individual health plan. Premiums are paid with pretax dollars, which help employees pay less in annual taxes. Employers pay lower payroll taxes and can deduct their annual contributions when calculating income taxes.

Contact us or request a quote for your business!

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Requirements for Group Health Insurance Eligibility

There are requirements that need to be met to qualify for small business group health insurance.  While there are many details to determine the exact terms to qualify or not for group health, there are a few general requirements.

  • A company must have between one and 50 employees.
  • One of the employees on the group health insurance plan can be the employer or owner. However, at least one other employee who is not an owner must exist and enroll in the group health plan. The specifics of this can be discussed with your agent.
  • Full-time employees are employees who work for you at least 30 hours per week

  • Full-time equivalent employees are non-full-time employees, but who, in combination, are the equivalent of a full-time employee. For example, 3 employees who each work 10 hours per week are equivalent to 1 full-time employee for purposes of determining eligibility for small business group health insurance.

  • A worker is an employee of your small business if you direct both the work process and the finished product.

As an independent agency we here at BEW Financial Solutions work with all the major carriers. We can advise you on what would work best for you and your healthcare needs.  We can assist you with enrollment through the ACA as well as private group health.  Please call us or request a quote online.  We will gladly sit with you and find the best solutions.

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BEW: The Right Fit

Since insurance is such an important part of your business you should speak to someone who knows the information you need to know.  You need to talk to someone who understands how important this is to you and your shareholders and employees. You need someone who can treat you like a trusted partner.

Knowledge and compassion fit are what BEW is about. We have been in the business for over twenty years. We are a local small business that has been a part of our community for many years. We have started our own business and and helped many local businesses as well.  We love to educate our clients about the different aspects of insurance and find what is best for them.  We want you to understand and are always here to help.

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Client Feedback

Great people, very kind and will go above and beyond to help with whatever you need.
Dani Kay
15:16 09 Dec 19
Bruce and Ellie's caring and understanding for our clients, along with their expertise is why we are confident in recommending BEW Financial Solutions again and again.We ourselves use their services for our business and our families.~~ Sensible Daily Money Managers, LLC
Sensible Dmm
20:24 13 Nov 19
Very helpful and friendly. Even offered us hot tea or coffee when we came in for help for health insurance. Highly recommend.
ChristinA Mendoza
18:53 10 Dec 17
Great people, very kind and will go above and beyond to help with whatever you need.
Dani Kay
15:16 09 Dec 19
Bruce and Ellie's caring and understanding for our clients, along with their expertise is why we are confident in recommending BEW Financial Solutions again and again.We ourselves use their services for our business and our families.~~ Sensible Daily Money Managers, LLC
Sensible Dmm
20:24 13 Nov 19
Very helpful and friendly. Even offered us hot tea or coffee when we came in for help for health insurance. Highly recommend.
ChristinA Mendoza
18:53 10 Dec 17
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