Business owners with employees numbering from 2 to 50 can choose to adopt group health plans. The decision to participate in a health plan can have benefits for both your company and your employees. Health care plans are keenly sought after benefits for potential employees. The tax deduction is just one benefit for your company. What plan should you choose to meet your needs for group insurance? California agents can help you make a suitable choice.

The main types of health insurance coverage options include:

o    HMO - Health Maintenance Operations. This is where employees only receive services from the applicable network of doctors in CA. A prime physician must approve visits to specialists.
o    PPO - Preferred Provider Organization.  PPO is also a network but has a wider range of providers, including doctors, specialists and hospitals. Employees may be required to contribute an out of pocket fee for services.
o    POS - Point of Service plan. POS offers employees a mix of networked services and services from outside. This is to offer greater flexibility to employees.
o    HSA - Health Savings Account. This option is an alternative for businesses that cannot afford comprehensive plans. Payments made by both employer and employee may be tax deductible in some circumstances.

It is important to note that employers need to make minimum contributions if employees are co-contributing. Details of the exact options available to you for your California group insurance can be discussed with your insurance agent today.

 

*