May 9, 2013
The moment you add employees to your company, you're taking a big step in the world of entrepreneurship. If you intend on keeping them for any length of time, you will probably want to offer them a health insurance plan they can have faith in. This lends the question of which plan to choose, and what you'll both get in return for it.
Which Health Plan is Best for My IL Small Business?
In this article we will take a look at some of the most popular options, for adding a health insurance plan to your new or growing Illinois business.
Traditional Group Coverage for Small Business
The most common way to offer your new staff members the health coverage they need, is by purchasing a traditional IL group plan. Going this route you will have the option of either paying for their plan in full, or paying a percentage to help share the cost. If this is your first time offering healthcare to employees, be sure to choose an experienced broker who can help you in choosing a plan that meets your needs, without exceeding your planned budget.
Individual Policies for Each Employee
An increasingly-popular selection for today's small business owner, is to purchase individual health insurance policies for each member of their staff - as opposed to going with a standard group plan. Individualized groups still allow you to share the expense, while also offering your employees the increased control of having an account they can easily manage. Many business owners find this to be a more-stress free option, and one that the staff appreciates.
HRA and HSA Insurance Plans
Contribution-based health insurance policies continue to be a favorite among new and established IL business owners. Heath Retirement Accounts and Health Savings Accounts allow both employee and employer to contribute to the policy, and provide additional earnings benefits too. Contributions are tax-free and can be rolled-over annually, and coverage can be uniquely tailored to meet the wellness needs of your team.
Short Term IL Health Coverage
If you're planning on utilizing temporary labor or administrative help as part of your business model, and would like to offer these employees health insurance during their time with your company, a short-term health plan is a wonderful option. Not only is it highly-affordable, but short-term health plans can be uniquely-customized to cover a very specific timeframe and health issues. Temporary health plans cover virtually everything you would get from a more traditional plan.
If you've recently hired your first employees and need an affordable group health plan, the IL health insurance experts at Premier look forward to helping you. We're one of the most trusted and reliable health insurance agencies in Chicago, with offices in the loop and western suburbs.
Call us today for more information on choosing the best health plans for new employees, or get a free quote right now in just minutes through our secure online form. Our agents are ready to help and can be reached at 800-369-0287.
Thanks for considering Premier Financial Insurance, Chicago's leader in affordable employee health plans from the industry's top carrier.