Small Business Health Insurance Options
Small Business Health Insurance Options – In the globe today, the rising cost of health care is not just a threat to the individuals alone but also to the different businesses; mostly to the one who knows the worth of the benefits in the lives of their employees.
Over the years, it has however been costly to cover a particular employee under a stipulated health insurance company because it almost rose up to about 200%. Due to this tremendous increase in terms of the health, it has caused as well as discouraged small business to invest when it comes to the health of their employees and this in future years to come will definitely rise to become a threat to these small Business because it (health Insurance) is important in any business and Organization that wants to succeed.
Small Business Health Insurance Options
There are several Small Business Health Insurance offers; and amongst them are the Humana and Aetna.
The Humana offers to employers an opportunity to invest in small business health insurance with about two to fifty employees. It is worthy to note that I this Humana the plan and options varies in accordance to the different geographical area. Under the Humana; there are several plans and they include:
- Humana Simplicity Plan: this plan or option provides gives a network preventive care and also grants the Employees an opportunity to make and map their own co-pay amount for their services. After the term called out-of-pocket expense is met, the plan or options pays for covered services including the wellness incentives.
- Level Funded Premium Plan: this kind of Humana plans deals with employers with a number of 10 or more employees. One major advantage of this Plan is that it is a flexible self-funding plan with comprehensive medical plans of which includes wellness programs. Another major advantage is that with this plan, one could save premium taxes and if offers a lower rate of premium as regards employees.
- Self-Funded Plans: just as the name implies this Humana plan offers employees an opportunity to pay lower premiums and also enables the employer, have a predictable cause and administrative plan as regards the insurance because premium can be covered with just a monthly payment.
- Humana Copay Plan: this plan offers employees to pay a flat fee for services and in turn offers lower costs for care provided by in-network healthcare doctors and facilities.
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This has been described to be one of the largest health insurers in the Nation and has been accorded a form of excellence due to their ability to still have the financial strength and offer qualitative services irrespective of the amount of premium. Just as the Humana, in Aetna a coverage option, as well as plans, varies in accordance with the geographical location as well as State. The following are the different Plan Options:
- Open Choice Plan: The Open Choice Plan just as the name implies grants one the access to meet with a medical specialist of their choice. Most times the rate is lower when a network of medical specialists is used. In Aetna any medical Specialist as long as he is licensed, he is allowed. When a medical specialist is been visited that is not part of the network; a larger amount may be paid.
- Traditional Choice Health Insurance Plan: in this kind of plan, certain kinds of services are not permitted due to the fact that it allows you to visit any medical specialist without any form referral. It is worthy to note that in the traditional plan form of Aetna, you pay for the services render to the medical specialist, submit a Claim and then receive the money back.
- PPO Plans: this kind of Plans allows employees who live outside the preferred geographical setting to use any licensed medical specialist of their choice without any form of referral. Discounts are rendered when the medical specialist in networks are met.
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