© 2010 MyHealthInsuranceAdvisor.Org

Small Business

Small Business group plans refer to health care coverage and health insurance plans designated for companies with a limited umber of full time employees. It can be as many as 100, but is most often two to 50. Health care coverage and health insurance pplan pricing has traditionally been based on two factors: Projected cost of medical services in a given geographic area and Projected utilization of services.  Cost projections are fairly stable across the country. But insurance companies estimate utilization of services probability on factors ranging from the medical history of your employees and their dependents to age and gender. These details affect plan premiums to you and your employees. If a member of your staff is considered a greater risk the group will usually pay a higher premium for insurance coverage. Only 47% of small businesses with three to nine employees offer their employees health insurance.1 For further information, see the Small Business button under the Types of Coverage section located on the left side of the page.

1 National Conference of State Legislatures, State and Small Business Health Insurance: An Overview. July 6, 2007.

Glossary © 2010 MyHealthInsuranceAdvisor.Org