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Health Insurance for Employees - What do you do?

We are a small business (team of 4) and I'd like to start providing health insurance for my staff. We are based in California and have gotten quotes from Covered California which is the state's program for small groups get get insurance.

How do you provide insurance to your staff? Is there a comparable program to Covered California? Or is that the go to for small groups? TIA

| 👁 414 | Posted November 24, 2018 | Share on Facebook | Twitter | Google+

| Modified: November 24, 2018 | Author:

7 Comments

joshb33071 9 months ago

Good question. The trade off is tax advantage to your corporate taxes. If you (or lean on your tax person) to calculate if the tax advantage based on allocated allowances make the difference paying out of the corp account for a group plan. The health insurance and tax laws don't make it easy!

baciodolce 9 months ago

Im not a pro on insurance, but depending on your area of business, you can often join a trade group and find good group rates going through there. I dont know how it would work as an employer, but I know lots of people do that. Theres different ways of joining different insurance pools to get good group rates though.

LoRdAcId 9 months ago

My understanding is you give a fixed monthly allowance and it's up to each person to get their own insurance. Isn't the point of group coverage the discount you get? Is it more expensive than individuals?

LoRdAcId 9 months ago

Thanks. Can you recommend a service or site to get quotes?

damagedispenser 9 months ago

I reccomend a high deductible high co pay policy with supplemental (aflac) to fill gaps

swoofswoofles 9 months ago

I just went directly to Kaiser and they provide insurance to my employees. It's pretty simple and costs pretty much exactly what I would expect it to for my 2 employees.

joshb33071 9 months ago

Defined Contribution Plans may be a solution, it allows employers to offer health benefits without offering a traditional group health insurance plan. Instead of paying costs for a specific group health plan, employers allocate tax-deductible monthly allowances for their employees to spend on private health insurance and other medical expenses tax-free.


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