Group health insurance is employer-sponsored health coverage for
business owners, employees and often for dependents.
A majority of Americans
have group health coverage through their
own or a family member's employer-sponsored group plan. Employers and employees
can share costs and there are special tax incentives available to businesses
that provide group health insurance.
As an employer, you select
a group health insurance plan and
then invite your employees to enroll.
Typically, employers cover
at least 50% (Under Obama-care the
percent increases to 60% beginning in 2014) of each employee's monthly premium, and can also contribute to
dependent premiums. The remainder is paid for by the employee.
If you want to provide
health insurance benefits and you're able to contribute toward
employee premiums, group health
insurance is the way to go.
Offering group health
insurance can help you hire and retain the
best workers, and the amount you pay toward employee premiums may be tax-deductible.
Since no one can be turned down based on medical history, group
coverage also protects workers or family members who might otherwise go
First, tell us about your company and employees. Then we'll show
you health insurance quotes from a number of leading companies in your area. Compare
plan rates and benefits to find the best match for your needs
and talk with one of our licensed insurance agents for personal help.
It's no secret that
employees value health insurance benefits. Surveys have shown that workers
value health insurance coverage second only to monetary compensation. By
offering group health insurance benefits to your employees, you may find it
easier to hire and retain the best workers for your company.
As a business owner, you
may not have health insurance coverage yourself. Perhaps you've considered
shopping for an individual health insurance plan for yourself and your family,
but did you know that by obtaining insurance through a company, you may get
better rates than through the individual market?
Additionally, there are
various tax incentives, and, beginning in 2014, tax penalties available to you
and your employees when you participate in or opt out of a group health
insurance plan. For example, businesses can generally deduct 100% of the
premiums they pay on qualifying group health plans and, by offering group
health insurance as part of a total compensation package, you may be able to
reduce payroll taxes. Plus, your employees can pay their portion of the monthly
insurance premium with pre-tax dollars. If you have 50 or more employees, you
MUST offer insurance or face a $2,000 penalty for every employee past your
first 30 employees. It gets worse. Also you must make sure:
If any employee decides to
purchase through the new exchanges and receive a subsidy, you are required to
pay a $3,000 penalty per employee who accepts the subsidy OR pay $2,000 for all
employees, whichever is less!
Make sure that you take
these incentives into consideration when determining the affordability of a
health insurance plan for you and your employees.
Your company will probably
be eligible for a small business plan if it meets the following criteria:
Please note that
eligibility criteria may vary among insurance companies and by state.
These group health insurance plans are designed to meet the needs of employers or employees who are stationed internationally, or who take multiple international business trips throughout the year. Plans are ideal for international executives/employees and business people.
International Employer Group Insurance
GEO Group (The Global Employer's Option)
Designed for employers with employees who are either U.S. or Canadian citizens who reside abroad, or foreign nationals around the world. GEO Group assists employers to carve out their international employees to provide them with U.S.-style benefits and worldwide coverage.
Patriot Multi-Trip Medical Insurance
Designed for travelers that take multiple trips throughout the year outside of their home country. It offers the ease and convenience of purchasing a single annual plan at an affordable annual premium.
Patriot Multi-Trip Group Travel Medical Insurance
Offers group coverage for five or more who travel frequently outside of their home country throughout the year.
Global Educators Medical
Offers worldwide group coverage to faculty and staff of international schools outside North America.