Get Small Business Health Insurance in Georgia
Published on June 18, 2018
Updated August 2, 2019
If you are a small business in Georgia, you have options for providing health insurance in your state.
Why offer small business health insurance in Georgia?
According to an eHealth survey, 43 percent of small business owners reported that they offered health benefits out of a sense of moral responsibility they have to their employees. Another 26 percent responded that they offered health insurance because they didn’t believe their employees would be able to get affordable coverage on their own.
Although moral obligation is great and all, there are plenty of reasons why small business health insurance in Georgia is beneficial to both employees and employer.
Benefits of small group coverage
According to eHealth’s study on small group coverage trends, small business health plans are 7 percent more affordable per individual than the average individual health plan. In addition to affordability, trends in the group health insurance market are generally more stable than individual plans.
Besides general affordability and stability, below are further benefits you may find with small business coverage:
- Retaining and hiring key employees—You can read up more on the topic how to retain key employees for your small business, but the basics are that talented workers are going to go for the best positions—and the best positions often include benefits like group health insurance. According to the Small Business Association, economists believe that employees generally perceive having health benefits as more of a cost-saver than having a higher salary (even if a higher salary equals more money at the end of the day). So in other words, small group health insurance may contribute to making employees happy, and it may mean you don’t have to stretch your budget with bonuses or pay raises.
- Tax benefits—If you employ 25 or less people, their average wage is less than $52,000, and you contribute at least 50 percent to their premiums, you may qualify for the small business premium tax credit. Learn more about the health tax credit for small businesses.
- Fostering a positive work environment—As a small business owner, you’re probably proud of the business you’ve grown, and you want your employees to like you and like working at your small business. Offering health benefits is a great way to show that you value employees, and could result in a more positive work environment.
- Healthy employees—By offering small business health insurance in Georgia, you’re giving your employees access to preventative care and discounts on prescriptions and doctors’ visits. With all the medical care your employees can take advantage of, you may find that you have healthier employees at work, and less people taking sick days.
Georgia small business health insurance eligibility
There are a few qualifications that you’ll need to meet in order to get small business health insurance in Georgia. Some of these include:
- Having between 1 and 50 employees. Read more here about what kind of employee counts.
- The owner of small business must draw wages from the company.
- You must be a legitimate business (with proof such as a business license).
If you qualify for small group coverage, it’s important to know that there are some rules you’ll have to follow:
- Although small businesses with 50 or less employees are not required by law to offer small business health insurance in Georgia, if you do offer health benefits, you’ll generally be required to contribute at least 50 percent towards your employees’ premiums
- Typically, small group plans must also allow employees to cover dependents aged under 26
A common question regarding coverage requirements is whether or not dental and vision must be offered along with health benefits. The answer is, usually not. You are also generally not required to contribute towards the premiums of dependents, but this could vary based on where you live, so make sure to check with your states’ laws regarding coverage requirements.
Where to find small business health insurance in Georgia
You can visit eHealth’s page dedicated to Georgia group health insurance plans to start searching for plans. We offer a wide variety of plan types from several different companies depending on your area. Get started with our free quotes, and you’ll quickly be on your way to finding affordable small business health insurance in Georgia.
This article is for general information and may not be updated after publication. Consult your own tax, accounting, or legal advisor instead of relying on this article as tax, accounting, or legal advice.