Small Business Health Insurance Choices

Small Business Health Insurance Choices

Article by Ryan Mahesh

Every business owner would be aware they must provide their employees with health insurance. If you’ve lower than five employees in which case you’re considered a small business and may be wondering what your choices are. What form of health insurance are you able to buy that would be within your budget?Less than a decade ago, health insurance premiums went up so high that it was priced out of the market for many of these struggling entrepreneurs. The complete opposite happened after the financial crisis when the companies going bankrupt right and left were getting people jittery about any insurance at all!

However now, there may be hope being found in the new reform bills designed to take effect in a number of years’ time. So by 2014, may well be able to band together to buy insurance as a group. This will finally allow these to purchase rates that usually are reserved for bigger companies thanks to the sheer force of those numbers. The new programs would be giving the employees three percent or so more benefits with a discounted rate of the maximum of four percent. Small business owners are asking though, what about now? 2014 may not be that far-off nonetheless it’s not really a comforting thing for with that very problem at this moment.

At the moment, who have working staff of ten employees or less who who are in the salary range of ,000 can deduct about 5% of their health insurance from tax credits. Companies who employ a maximum of 25 people and have a salary of not in excess of ,000 annually may also deduct partial percentages from their taxes. Pre-existing conditions won’t affect rates any more or exclude an employee from coverage once the reforms start since insurance agencies won’t be allowed to perform this any longer. It will only be age, geographic location, and tobacco use that the rates will be based on. These are the primary changes in store for small businesses. There will not be likely to be any big changes in any part of that insurance world, however, until 2014 shows.

About the Author

Small Business Health Insurance – Compare health insurance and Self Health Insurance quotes from the leading providers to find the best option for you and your family.