HSA for America’s focus is on helping individuals and small business owners save money by being wise and informed healthcare consumers.  This short 3 minute video will explain why HSA plans are becoming so popular, and how they can help your business and your employees save money and better manage their healthcare expenses.

If you would like to get a quote on group coverage, please fill our Quote Request Census Form.  This will allow us to price shop your quote request among several different insurance companies, so that you can choose the solution that best fits your needs.  If you have some questions, please call us at 866-749-2039 and ask for Randy Rush.

The Difference between Group Coverage and Individual Coverage

Because group insurance rates are two to three times as expensive as individual plans, we believe that the best option for most small businesses of less than 20 employees is to let the employees sign up for individual coverage, rather than group coverage.  These are the main advantages of this strategy:

• Individual plans are 100% portable, meaning that they are not tied to the employer's business.  The employee can take the coverage with them, wherever they go.
• Because they are individually underwritten, they are much less expensive.  Employees with pre-existing conditions can join a federal risk pool in 2010, and will be able to purchase individual coverage regardless of pre-existing conditions in 2014.

The new health care reform bill actually makes it more attractive for most businesses to eliminate their group coverage and let their employees enroll in individual plans.  That is because starting in 2014, employees earning less than 400% of the federal poverty level (up to $88,200 for a family of four) will receive a large federal subsidy on their health insurance if their company doesn't offer a group plan.  For businesses with over 50 employees there is a $3000 fee for each employee who receives a subsidy, but there is no cost to small businesses.

Employees with pre-existing health conditions can join a federal risk pool in 2010, and will be able to purchase individual coverage regardless of pre-existing conditions in 2014.

An employer cannot pay for individual health insurance, but in most states you can reimburse your employees tax-free through a Section 105 HRA Plan.  An HRA, or Health Reimbursement Arrangement, is simply an agreement that the employer makes to reimburse certain medical expenses, including health insurance, that the employee incurs.  The reimbursement is considered a tax-free fringe benefit to the employee, and a business expense for the employer.

The end result is that you may be able cut your costs in half, while providing your employees with better coverage.  This works well for small businesses with healthy employees.  To learn about whether individual health insurance coverage and an HRA plan is right for you and your employees, please visit our 105 HRA Plans for Small Business Owners page.

You can run rates for individual employees on our instant quote system. If you are interested in true group coverage, please call us at 866-749-2039, and ask for our group coverage specialist, Randy Rush.