Almega Life Solutions focuses much of its energy helping small business with fewer than 50 employees create group health insurance plans.
There are a few choices for group health insurance in the Phoenix. United Healthcare, Aetna, Cigna, BlueCross, Humana, and National General.
Generally speaking, the group health insurance companies want the employers with fewer than 50 employees to play by the same rules as larger companies. When a small business has more than 50 employees it is mandated to offer a health insurance policy. The health insurance companies will enforce participation and contribution requirements; thus at least 1/2 the employees must participate in the plan and the employer is required to pay 50% or more of the employee’s premiums.
Because most insurance companies require the small business with fewer than 50 employees to meet the same participation and contribution rules as a larger business those with fewer than 50 employees often don’t offer a group health plan.
In 2017, we approached Humana pointing out the need to make concessions for the smaller employer. After all there is no mandate on the employer with fewer than 50 employees.
Since this meeting, we have been working with Humana to issue group health insurance plans for smaller employers without requiring participation or contributions. If you are small business with 1-49 employees Humana will extend a group health insurance plan even if only 2 employees elect coverage. Humana doesn’t require the employer to contribute to the employee’s premium; the employee can be asked to pay 100% of the premium.
A small business can extend true group health insurance plans to employees. The cost is usually 1/3 less than ObamaCare. The employer can utilize this offering to help increase retention and recruitment as it specifically helps attract higher compensated employees who are not eligible for an ObamaCare subsidy.