Small Business Health Insurance in Delaware (Do You Qualify?)
Published on June 19, 2018
Updated August 2, 2019
Certain small groups that qualify for group coverage, but chose not to get it, might find out that they’ve missed out on benefits and savings that are possible with small business health insurance in Delaware.
Keep reading to see why qualifying groups may want to consider small business health insurance in Delaware, even if they haven’t in the past.
Why get group health insurance now?
Let’s face it—the health insurance market has seen a lot of changes and reform in the past decade, which is probably part of the reason that prices have steadily increased. And unfortunately, this trend doesn’t seem to be slowing down. According to an eHealth study, prices on individual plans have increased 54 percent between 2015 and 2018.
According to a New York Times article, people remain confused about how turmoil in the individual market affects them—even people who get covered by large employers, and benefit from stability and reduced prices.
Well, eHealth’s study on small business health coverage trends might bring comfort to those who are worried. We found that the national average premium on small group health insurance plans in 2018 has decreased from the prior year.
If you aren’t having luck finding affordable options in the individual market, then the small business market may be a good bet for you.
What does small business health insurance in Delaware have to offer?
Small business plans, on average, were shown to be 7 percent more affordable per individual than the average individual health insurance plan.
We have made it clear—group health insurance plans are probably going to be more affordable per individual in Delaware. But what else is there to benefit from when getting a small business health insurance plan in Delaware? A few things you may come to appreciate about small group insurance include:
- Retaining and hiring key employees: Health benefits are a huge deal for many employees. Read about how offering small group health insurance can help you hire and retain quality employees.
- Tax benefits for everyone: If you’re worried about how to afford your share of employees’ premiums as a small business owner, you may be comforted to know that there are tax benefits that could significantly help with the financial burden of providing health insurance. Besides the option for deducting healthcare costs, you also have the opportunity to qualify for the small business health care tax credit.
- 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.
- Healthier employees: This benefit might seem pretty obvious, but it shouldn’t be taken for granted! Healthy employees could mean more productive days, and less spread of illness throughout your small business. By being part of a group health insurance plan in Delaware, your employees will probably have access to preventative care, discounts on prescriptions, and access to healthcare providers when they need it.
How to start shopping for plans
You can visit eHealth’s page designed specifically for those shopping for health insurance coverage for their small business in Delaware. We offer a wide variety of plan types from several different companies depending on your area.
Take advantage of our free quotes and various tools designed to help you find small business coverage that fits the needs of your Delaware business.
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.