What Health Benefits Are Available to Small Business Owners and Their Employees

According to the Small Business Association, there are over 29 million small businesses in America. 

That's a lot of employers and employees that may not be fully aware of what they need in order to keep themselves healthy and happy. Here we'll explore some of the most important aspects of health insurance for small business owners.
​

Small business owners have a lot of responsibilities. They are responsible for the health and well-being of their employees, as well as the success of their businesses. In order to ensure that small business owners can provide the best possible benefits for their employees, it is important to be aware of all the health benefits that are available to them.
​

Health insurance is an important benefit for small business owners. It provides peace of mind in knowing that you and your employees are covered in the event of an unexpected health emergency. There are a variety of health insurance plans available to small business owners, and it is important to choose one that fits your needs.

​Here are some of the most common health insurance plans for small businesses:
- Health Maintenance Organizations (HMOs)
- Preferred Provider Organizations (PPOs)
- Point of Service Plans (POS)
- Health Savings Accounts (HSAs)
- Flexible Spending Accounts (FSAs)

HEALTH MAINTENANCE ORGANIZATIONS

or HMOs, are one of the most common health insurance plans for small businesses. An HMO is a type of health insurance plan that requires you to use providers that are part of the HMO's network. This can be a disadvantage if you live in a rural area and there are no providers in your area that participate in the HMO.

PREFERRED PROVIDER ORGANIZATIONS

or PPOs, are health insurance plans that allow you to choose any provider you want. The problem with many PPO plans is that not all doctor's will accept them as insurance. One of the best work arounds to that is finding the right provider.

For instance, Sana Benefits, has a 99% acceptance rate when requesting providers to join their network. And, if the doctor doesn't join the network, they provide their clients with a Sana Care Card so they can still be covered by their insurance.

A PPO can be a good option for small businesses because it typically offers more flexibility than other health insurance plans. And, many PPOs offer a wide variety of health care services, which can be helpful for small businesses that need access to a variety of health care providers.

HMO & PPO ARE BOTH EXAMPLES OF GROUP HEALTH INSURANCE PLANS

Group health insurance is health insurance that is offered through an employer. It is typically less expensive than health insurance that is purchased on the individual market. Group health insurance is a good option for small businesses because it allows business owners to pool their resources and get a better rate.

​One of the best parts, in some states, like Oklahoma for example, employers do not have to contribute to the health plan. That makes this a free benefit to offer your employees at a discount to anyone who wants to take advantage of the benefit.

DENTAL CARE

When it comes to dental health care, small business owners have a few different options. They can either purchase dental insurance for their employees, or they can offer a flexible spending account (FSA) that allows employees to use pre-tax dollars to pay for dental care.
​
Offering a FSA is also a good option for small businesses because it allows employees to use pre-tax dollars to pay for dental care. This can be helpful because it lowers the amount of money that employees have to pay out-of-pocket for dental care

VISION CARE

Small businesses also have the option of purchasing vision health insurance for their employees. Vision health insurance typically offers a wide variety of services, including eye exams, prescription glasses, and contact lenses.
​
Vision health insurance is a good option for small businesses because it typically offers a low cost per month. This can be helpful because it lowers the amount of money that employees have to pay out-of-pocket for vision care.

DISABILITY INSURANCE

Disability coverage is a health insurance plan that provides benefits if an employee becomes disabled. Disability coverage is a good option for small businesses because it can help to protect the business if an employee becomes disabled.

Disability coverage typically offers a variety of benefits, including income replacement, health care, and death benefits. And, disability coverage is typically less expensive than health insurance.

Small businesses can offer disability coverage to their employees by purchasing a group policy at a discounted rate compared to what would be available to employees purchasing individual plans.

Each of these health insurance plans has its own set of benefits and drawbacks, so it is important to research them carefully before choosing one. HMOs, for example, are known for their low premiums, while PPOs offer more flexibility in terms of doctors and hospitals that you can visit. POS plans are a middle ground between HMOs and PPOs, while HSAs and FSAs offer tax advantages.

It is important to be aware of health benefits available to small business owners in America. The Small Business Association reports that there are 29 million small businesses across the country, which means that many employers and employees may not know what they need in order keep themselves healthy. We hope this article has been helpful for you as a starting point when considering health insurance options for your business.

If it sounds like something you want help with or have any questions about, reach out! Our team of experts can help make sure both yourself and your employees get all the health care coverage they need by partnering with you and designing a benefit package around their needs- whether that's health insurance or anything else!