How to Get Small Business Health Insurance in Ohio
Published on June 12, 2018
A recent eHealth study found that deductibles on individual health insurance plans are 40% higher than those of the average group health insurance plan. Premiums for individual plans are 10% higher, on average, than for group plans. We also found that prices on small group plans have also remained relatively steady. On the other hand, individual health insurance plans have seen drastic rises in the past few years.
Why get small business health insurance in Ohio?
Besides the general affordability of small group plans, there are plenty of reasons why you might want to be enrolled in a small business health insurance plan in Ohio. Some which include:
- Cost sharing—for employees, premiums are often shared by employers (usually the employer pays at least fifty percent).
- Tax benefits—employers of small businesses might qualify for the small business health care tax credit, which can help cover the cost of employees’ premiums.
- Decreased prices due to risk pool advantages—as the Small Business Association points out, spreading risk across a group is a fundamental theory of insurance. With more people in a group, risk can be pooled, and prices can be lower.
- Better work environment—since health insurance is such a valued benefit for employees, a small business owner may have a better chance of fostering a positive work environment, and hiring and retaining employees by offering a group plan.
How to get small business health insurance in Ohio
Now that you know small group coverage has a whole list of benefits, the first step to getting enrolled is figuring out if you qualify.
In order to qualify for a group health insurance plan you must:
- Have proof that you are, in fact, a legitimate small business (i.e. business license, tax return)
- Have at least one employee, besides yourself or a spouse
- Contribute to group member’s premiums
Once you know that you qualify, shopping for small business health insurance in Ohio will be a breeze with eHealth. We provide free quotes, and the plans on our website are priced the same everywhere else—so you can rest assured that you are seeing the best prices for every plan.
Choosing the right plan for your small group
There are plenty of plan types out there, but some of the most popular are PPO, HMO, POS, and EPO plans. Let’s look at some of the details of each of these options for small business health insurance in Ohio:
|POS (Point of Service)||In eHealth’s 2017 study on trends in the small business market, we found that this hybrid of HMO and PPO plans was the most popular plan, with half of the groups choosing it. You can expect to need a primary care provider (PCP) but you will have the extensive network and flexibility most PPOs offer.|
|EPO (Exclusive Provider Organization)||With this plan, enrollees have access to all in-network providers without referrals by a PCP, but there is little flexibility with getting care out-of-network.|
|PPO (Preferred Provider Organization)||PPOs offer a wide range of in-network health care providers, which they “prefer” you to go to. With that said, this plan has flexibility with going out-of-network—services will often still be covered, but your costs are generally higher than if you stay in the plan network.|
|HMO (Health Maintenance Organization)||HMOs often cost less than PPOs, but they require you to stay in-network if you want any coverage, and you will need to find a PCP for referrals.|
Understand that all plans are different, and make sure to check the plan specifics before enrolling. Different plans work better for different people, so there is no one right plan type. Additionally, as a small group, you have the option of offering more than one plan for employees to choose from.
Get quotes of small business health insurance in Ohio
Now that you’re all read-up on what group plans have to offer, visit our Ohio Small Business Health Insurance page, and start exploring options in your area.