Small group health insurance is a necessity for folks of all ages and all business types. Going to the hospital should not be a scary experience with hidden costs. You should be confident that your small group insurance covers the varying health needs of your employees as they happen.
Here’s how it works. You pay health care companies a set amount of money each month and you get benefits to pay for your eligible health care expenses. This can include regular doctor checkups or injuries to treatment for long-term illnesses. Generally, the more you pay per month (premium), the lower your deductibles.
With some small group plans, you’ll pay a certain amount, called a co-payment, when you have a service. If you have a deductible, that’s the amount you’ll have to pay for covered services before the insurance starts paying. Most of the time, you’ll pay for part of your health care services until you’ve paid the “out of pocket maximum.” After that, the health insurance usually pays for covered expenses.
Health insurance is very important, but many people have trouble understanding which small group health plans to purchase, what benefits their employees are getting, and how much they need to pay at certain times. That’s where we come in. As small group health insurance brokers at Shelton Insurance, we choose health insurance plans for small groups and businesses that are tailored to your needs, so you can be confident you and your staff are covered when it counts. You never know when you’ll need medical help.
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We’ll partner with you to review the best small group health coverage options; compare health insurance plans based on costs, benefits, and other important features; choose a plan; and enroll in coverage.
You may be asking; can I get small group health insurance now? Yes! You and your employees can enroll for health insurance during the designated Open Enrollment period each year. If you’re unsure when that is, just ask us. Outside of that time, you can qualify for a Special Enrollment Period with “qualifying life events”. Some of these events include divorce, loss of employment, income change, new dependents, or moving to a new area. You will need to prove that you had a qualifying life event, and we can help you find health insurance within a certain window of time.
Covered California is the name of the state exchange where individuals and families can be awarded subsidies via the Advanced Premium Tax Credit. The open enrollment periods coincide with the individual and family plans. Many of the same rules and premium rating areas due apply. Shelton Insurance has worked with Covered California since its inception in 2013/2014. The key to these plans are to guess what your future income will be.
To enroll, you will need identification for everyone in the household over 18 and proof of income. The most commonly used document is your previous year’s 1040 form from your taxes for the family or the individual. When one member of the household or individual turns 65 they are no longer eligible for the APTC or Subsidy because they will have started Medicare.
Ready to get small group health insurance? We’re here to listen to your questions and help you get answers. Sometimes talking over the phone is easier. Call us at (831) 637-8941.