Health Insurance Medical Resources & Information

Looking for an inexpensive small business health insurance plan? Here’s how to get affordable small business health insurance with a reliable company.

What is small business health insurance?

A small business health insurance plan provides health care for companies with two to fifty employees. The advantages of these plans are:

1. Premiums are lower than with individual plans

2. Coverage is more extensive

3. Contributions made to these plans by employers are tax deductible

What types of coverage are there?

There are two categories of coverage:

Comprehensive health care plans – These plans provide complete medical protection. They pay for your doctor bills, hospital expenses, and prescription drugs costs.

The most popular comprehensive health care plans are HMOs. With these plans you pay a monthly premium to join the HMO and are given a list of doctors and hospitals you must use for your health care. You pay a co-payment of usually $5 to $10 for each doctor visit and your HMO pays your medical bills.

Gaining in popularity are medical savings accounts (MSAs). These plans combine a savings account with a low-cost, high-deductible health insurance plan. You put money into the savings account to be used for minor medical expenses, and use your health insurance plan to pay for major expenses.

These two plans are the most affordable of the comprehensive medical plans.

Specialized heath care plans – These plans provide coverage for a particular illnesses or medical situation. These plans include:

* Catastrophic illness plans – Also known as major medical plans, these plans pay for hospital costs associated with a major illness like cancer or heart disease. They do not cover ongoing doctor visits or prescription drug costs.

* Accident only plans pay for medical costs associated with accidents – sprained ankles, broken fingers, etc. – and do not cover illnesses.

* Specified disease plans pay for medical costs associated with a particular disease such as cancer, heart attack, or AIDS.

Specialized health care plans are usually cheaper than comprehensive plans because they provide only limited coverage.

Where can I find the most affordable plans?

Visit http://www.LowerRateQuotes.com/health-insurance.html or click on the following link to get affordable small business health insurance quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.

Affordable Health Insurance for Small Businesses
Businesses with less than twenty employees who wish to provide Affordable Health Insurance for their employees often find the cost to offer such a benefit prohibitive. In most cases, they need to know in advance which type of Affordable Health Insurance plan they intend to offer their employees. The most expensive Affordable Health Insurance for small business owners is the traditional type that allows employees to choose the physician, hospital and prescription plan of their choice. The reason small business owners choose the HMO over the traditional is cost. However, there are several factors that should be addressed before committing to a specific Affordable Health Insurance plan:
A. The overall health of employees
B. The median age of all staff members who will be insured
C. The terms of the Affordable Health Insurance contract

Reading the Fine Print in Affordable Health Insurance Plans
In the early days of health benefits offered by employers, the type of plan offered was a competitive mechanism to attract the best employees, especially if the type of work involved had safety issues. Affordable Health Insurance was offered in these cases to avoid litigation from minor workplace injury. With the advent of HMOs, these plans began to rein in the cost employers paid to offer this benefit. Even so, health care costs continue to spiral out of control. In certain types of plans, employees are restricted from continuing with a prior plan doctor when the new employer’s plan is different. Or, the prescription plan may be radically different from a prior employer’s plan.

What Does Your Affordable Health Insurance Plan Cover?
What most plans cover are regular visits to a physician and any diagnostic work involved such as blood tests, EKGs or other necessary testing to determine cause of illness or debilitation. Certain plans restrict medications to generic brands. The problem is that in certain cases, instead of one prescription brand, two generic brands often must be combined to effect the same medical regimen. Not all prescription drugs are compatible. The cost to the employer for additional generic prescription drugs where one brand name drug is adequate, can, in effect, double. The same is true for physicians listed in plans. Many physicians no longer offer evening or weekend hours for those who are employed and have an employer-sponsored plan. This necessitates employees having to take time off from their jobs to have routine physician visits. This is one issue that should be clearly viewed before signing off on any Affordable Health Insurance contract inasmuch as employee absenteeism can play havoc with small businesses.

The Terms of the Affordable Health Insurance Contract
When considering a less expensive Affordable Health Insurance plan for small businesses, it’s important to note the rate at which the plan costs will increase. Many plans will offer an initial lower rate, only to double in cost at time of renewal. Adhering to a small business budget is daunting in times of economic austerity. Affordable Health Insurance has become the most expensive item in small business budgets. There is more to a Affordable Health Insurance plan for small business than coverage for employees.

Product Description
This digital document is an article from Los Angeles Business Journal, published by CBJ, L.P. on November 30, 2009. The length of the article is 373 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.

Citation Details
Title: Medical coverage has employers feeling exposed: L.A. firms… More >>

Medical coverage has employers feeling exposed: L.A. firms hope to keep costs down in 2010, according to survey.: An article from: Los Angeles Business Journal

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