Best Health Insurance for Small Business - Plans & Providers 2020

  • By Administrator
  • 11 August 2020

"You can never foresee your future to predict." Especially when you are up to talk about your health, it doesn't matter who you are and what you do.

Your first and foremost priority is health. It has equal importance for your loved ones as it has for you. Even for everyone, yes, "Health is called first wealth."

When it comes to business, we need it too. Mishaps/unpredictable situations never send us letters before their arrival; they just come and demolish everything.

No need to be worried, you have all kinds of equal opportunities, you can save yourself, your employees, as well as your business by being insured.

You will end up reading this article with the best health insurance for small business. You will be helped, how to find health insurance brokers for small business and the best small business insurance companies, but before going into depth, let us narrate its high-importance.  

Pre-eminence of health benefits and how it helps you to grow your business?

If your team of employees is fit with good health and happiness, your business will make remarkable success. Having a healthy team of an employee is vital to the long-term victory of any company. The most utmost purpose of any company is profits, and a company can only achieve it when its employees give the best of their job.  Health Insurance can allow your company the point you would like to hit that for success.

Basic Insurance Variations for Small Business

Giving health protections to your employees is not a splendor anymore. It is a rudiment way to attract and retain skilled workers. If truth be told, a large number of employees say that the foremost benefit offered to them is health insurance through their job. Many Americans do not know about health insurance responsibilities and variations for small businesses. As a business owner, you must be wondering How much medical insurance for small business costs a minimum. Below you will find details related to health insurance for employees small business

Medical Insurance for Small Business

Let the insurance companies tackle all the health care needs of your workers, from a minor clinic checkup up to intense emergencies.  This is how you can also reduce your extra healthcare expenses as a business owner by selecting a plan from group insurance. On the other side, individual insurance will cost you higher.  

Commonly offered plans

In commonly offered plans between the group and individual insurance coverage, you will have a "Platinum plan" with an average coverage of 90% expense; you just pay 10% of your expense. "Gold plan" comes with covering 80% of medical expenses, and you will pay 20%. At number three, you will get the "Silver plan" option, covering 70% of your health expenses while you pay 30% in this plan. The last one is called "Bronze plan" which will provide you an average 60% coverage of your expenses, for this plan make your mind that you will be paying 40% expense out of your pocket.

  1. Individual Insurance

Individual insurance plans are more expensive than group insurance plans, as they both come with the same benefits. If you are a small business owner and seeking health insurance. You must not go for individual plans while you have an opportunity to get the same benefit for you and your employees, spending less money. 

  1. Group Insurance

If you have employees between one to fifty (more than or equal to 50). You can think about group insurance. You can also offer to part-time workers/employees, but there are some conditions that we will discuss below in the requirement section. Where you can get all about group insurance such as 

  1. Key health fringe benefits

  2. Small  business employees eligibility

  3. Waiting period

Another benefit is travel insurance coverage. Some insurance companies cover travel insurance with your health insurance plan. Have a look at what benefits you will get in travel insurance.

Travel Health Insurance USA

Travel without panic, yes if you are taking a plan which covers travel insurance as well, then you must be relaxed while traveling. More, it depends on what kind of travel insurance is included in your package, or you can buy it separately according to your travel days. Remember, if you are traveling with your pets, you need a health certificate for pet travel. Like for dogs, you must have a dog health certificate for travel.

  1. Medical Travel plan

It covers medical services within and out of the country. Any medical emergencies and proper guide to health will be provided during your travel time.

  1. Baggage Insurance

When it comes to baggage, you would be afraid to lose any of your bags full of expensive clothes or other documents during your travel time. Baggage insurance provides you comprehensive coverage of luggage, in case of theft or loss—the best way for hassle-free travel.

Now is the turn to share more important and required things related to health insurance for employees small business

Health Insurance for Employees Small Business

As discussed above, here are the key fringe benefits.

  • Key health fringe benefits

Make sure to include these things when offering insurance to your employees that the Government considers key health fringe benefits. These benefits are the primary need of every human being. Almost all medical expenses are paid for these treatments.

1.In the case of (Intense emergencies)

2.Situations like (Pregnancy/maternity/infant care)

3.Medications for (Mental health)

4. Services of (Lab-tests) 

5.(Vision/Oral care) 

These are essential for every healthcare plan.

Healthcare Plans for Small Business

There are assorted plans for healthcare. In this article, we have shared those plans you might searching for.

These plans do not include dental benefits, and you need to shop a separate policy for your dental treatments, even so, they will not cover all expenses but a sum of amount.

PPO Insurance Plan:

PPO (“Preferred Provider Organization”) employees covered by PPO are advised to visit hospitals and doctors in the list given by insurance companies.

HMO Insurance Plan:

HMO ("Health Maintenance Organization") provides extended benefits for employees. HMO plan allows an employee to select an essential care doctor to provide most of their healthcare and refer them on to HMO as required.

HSA Insurance Plan:

An HSA insurance plan is connected with a bank account that permits members to spare some cash to be utilized, particularly for healthcare expenses.

Indemnity Insurance Plan:

Repayment or indemnity plans allow members to coordinate their healthcare and any doctor or hospital. The insurance company, at that point, pays a set amount of the whole charges. Employees may be required to pay upfront for a few services and, after that, apply to the insurance company for repayment.

Small business health insurance requirement

Requirements that a small business should have for health insurance. On the top, we will talk about eligibility for employees, as eligibility plays a crucial role in small business health insurance requirement and then the required time in getting insured by the employer. 

  • Small business employees eligibility

To fulfill the requirement as an owner of small business, you need one or more than one full-time employee/employee equivalent to full time to qualify insurance criteria for small businesses. Employees who complete 30 work hours in a week or if we say 130-hrs work in a single month with paid and unpaid leaves are full-time employees.

Employees equivalent to full-time are not full-time employees but in some way are equal to full-time employees. This is how it is calculated; the total number of work hrs every month by part-time employees is divided by 120.

Understand this scenario, 

Ten part-time workers do work for 40 hrs/week is equal to 200 hrs

now 200 hrs x  4.33/month = 866

866 divided by 120 = 7.2 Employees equivalent to full-time.

  • Waiting period

An employee must get to hold up for 90-Days from the date of the job start, if qualified according to requirements, and recruited by a small business that offers health insurance. If s/he does not get in this time, ask your employer what makes it late. Documentation is the most reported issue that causes the delay. Make sure to provide correct information without error and omissions.

Best Small Business Insurance Companies

It is essential to find out the right and the best health insurance for small business. You can get the name of the best companies that are listed below. These companies operate in different states of the US. They have different plans with different conditions. They also have a big list of brokers and agents in the country, contact broker/agent, or direct to the company. Most of the companies do not disclose the costs of their plans.

$33.1 Million Americans are uninsured. Yes, it's a fact because they do not see plan cost, or they do not even contact the provider for a quotation.

Costs and plans will be shared by the provider once contacted.

  1. The Hartford
    Covers almost all industries. Leading customer care and finest insurance packages with a reasonable premium range.

  2. Hiscox
    Contractors who work independently and sole proprietors both look for custom-fitted health insurance to proficient needs.

  3. Nationwide
    For small businesses and mid-size businesses. That need worker benefits in expansion to business protections

  4. Farmers Insurance
    Stores owners that need coverage including employee theft and inventory.

  5. Am-Trust
    As required for (Hotels/Restaurants/Liquor shops) for liquor liability.

  6. All-State
    They are best for the real estate investment business. Get a plan according to your needs.

Small Business Health Insurance Colorado

Owner of small business in Colorado and planning to give health benefits to your employees? If yes, it's a good thought, and it will help your business to grow fast with skilled and healthy employees. All you have to do is check your eligibility for group health care plans. Once you make sure that you qualify for this, then contact these insurance providers to find out their best plan for you and your employees.

1. Anthem BlueCross BlueShield

2. Humana

  • Contact:

    • Centennial, Colorado (+1 303-267-9000)

    • Colorado Springs (+1 719-532-7700)

  • Website:

3. Kaiser Permanente

4. United HealthCare

  • Contact: Centennial, CO (+1 720-441-6311) (+1-844-281-6076)

  • Website:

Visit:  to read given plans for small business health insurance colorado.

Small Business Health Insurance Florida

Insurance companies in Florida provide all insurance services, individual, group, house insurance, car insurance, accidental and small business. The best companies are mentioned below with their numbers and website. If you qualify the criteria, contact them for further details, by making a call or visiting their website. 

1. Humana Health Insurance Company of Florida

  • Contact Details:

    • Tampa (Central): 1-800-568-3333 

    • Miramar (South): 1-800-442-5555

  • Website:

2. Blue Cross Blue Shield of Florida dba Florida Blue 

3. All Savers Insurance Company

4. Aetna Life Insurance Company

Visit: for brief details about small business health insurance plans Florida.

Health Insurance Brokers for Small Business

Many small business owners think they do not need a broker while they can buy plans on their own. Here they made a mistake. A good broker plays a vital role in your policy.

A broker can make your healthcare experience good or bad. You’ll be relying on your broker to discover the most excellent plan for your group, so it’s imperative to find somebody who knows the entire game well. But the relationship will not desist there. Your broker will proceed to work with you to oversee the plan all through the year.
Things to Remember while Finding a Broker

1. Professional and licensed

Confirm your broker license and check through the state's dept of insurance. So you will get the status of his work. Not all brokers are professional, and they must have knowledge of a specific field of interest. 

2. History with small business

If your broker is experienced, it's good, but wait. Have your broker any history of working with small businesses? 

Does it matter? Yes, it matters, law and regulations are different for small and big companies. Your broker will be the one helping you to get the better plan that fits your requirement, but if the broker is not experienced, then it may be a bad experience for you or a complete loss. So, choose one with a small business working history.

3. Good personality:  Be There For You - All through Your Policy 

Find a broker that is easy to talk to and keep a check are your employees comfortable with him. Your broker will be there for you all through your policy. A broker must be loyal to its responsibilities or not. It will directly affect your business later.


We all considered safety as our priority. Health insurance is crucially important for individuals as well as small companies. Attract skilled labor by offering them healthcare. Your business will grow fast if you have a sincere/happy/healthy team of employees. If you are doing it on your own, read out policy plans/their terms and conditions/provided services in your plan/ physician list or contact experienced broker who will find you the best plan that fits you and your employees. Save yourself, Save your employees.


1. Why health insurance is important?

Uninsured individuals get less medical care and less opportune care; they have more regrettable health results, and the need for protection could be a financial burden for them and their families. Small business owners surely need to offer health protection to their employees, attract skilled employees by offering benefits they need on priority and make profits grow fast and secure with a fit team of an employee.

2. Why is health insurance required?

An immense increase in healthcare expenses is the reason. To avoid such loss at your end, If you are insured, you can get better care on time with satisfactory results.

3. Are health insurance payouts taxable?

No, not-taxable. Whether you pay it or your employer, it is not considered as income. To know how they are being paid from your side, check your payslips. You will get all deductions in detail.

4. Are health insurance premiums deductible?

Not in all cases, it will be deducted if total spendings run over your adjusted 10% of gross income. In this scenario, its deductible, but deductions will be made of above 10%.

5. Are health insurance premiums subject to FICA?

Qualified plans ain't come under FICA and other taxes, but if group insurance increases more than fifty thousand dollars, it is under social security.

6. Are health insurance benefits taxable?

Not at all, even you pay or your employer, as it not an income. Until it crosses 10% of gross income, which is adjustable, if it is 12%, you will pay an excessive amount of 2%.

7. What health insurance covers pre-existing conditions?

If you have a pre-existed health issue, you can still get insured. Under the law, no insurance company can reject your request for any of its plans. 

8. What health insurance should I get?

If you have checked all insurance plans and still confused or can not understand what is fit for your business, then try hiring a broker, but make sure the broker should have a history of working for small businesses.

9. Which health insurance company is best?

We have shared some of the best health insurance companies above for individual and group insurance. You can compare them and select one which fits your needs.

10. How does health insurance work?

When a person gets injured or ill, insurance companies pay their medical bills according to their plan. As medical care is so expensive and you can run out of cash or may need to spend all of your life savings.

11. How health insurance companies make money?

They earn from received premium amounts for their plans—for example, BNM.Inc collected $4.9 Million premium in a year and spent $3.6 Million in claims. That shows $1.3 Million is their profit. More they keep premiums amounts in saving accounts or invest it in other businesses to generate profits, like real state and other businesses with higher profit ratio.

12. How does health insurance deductible work?

A deductible is a sum you pay for health care charges before the insurance company starts to pay. For example, the Total deductible is $1,100; once you reached this amount by paying your healthcare, then you can claim it to the company.

13. How did health insurance claims work?

After you get medical treatment, the hospital sends a bill to your insurance company for the claim. When you have not paid anything. The insurance company verifies your visit and the treatment you have taken and claim it according to your plan.

14. Will health insurance cover therapy?

Check your plan; if it is listed in your plan, then you can get covered for therapy as some plans may not include such physicians while some are included.

15. Will health insurance cover dental work?

Insurance companies do not offer it, but some do offer as separate plans. In that plan, they cover all amounts. It is a fixed sum that is pre-negotiated for some services. More in this case, if the dentist is in their given list of physicians. On the other side, you have to pay it in your pocket. 

16. Can health insurance refuse to pay?

If your plan does not cover that service you claimed, then it might get rejected. Such as dental care is not part of all plans, or some plans cover a sum of the paid amount. Read your plan conditions to avoid such a nuisance. Ask your broker/agent to verify the plan or suggest you one you might wondering for. This is pre-work before you get your small business employees insured.

17. Are health insurance premiums pre-tax?

Yes, as the employer deduct it from your "Pre-tax" income, but if it gets higher than 10%, then you have to pay an extra sum. 

18. What health insurance covers?

1.Case of "Emergency"

2.Conditions like "Pregnancy/maternity/infant care"

3.Treatment for "Mental health."

4. Services of (Lab-tests), 

5.Vision/Oral care

These are essential services that insurance companies cover.