I’ve talked to many small employers in TN who want to offer health insurance coverage for their employees, but sometimes they really don’t know what’s involved in the process. Employers with 2-15 employees will generally not have a full-time Human Resource Department, so often times they don’t know where to start.
A Few Small Group Basics:
- You need at least 2 employees to make up a group. This can be two W-2 employees, an owner and one W-2 employee, two owners or partners, and in some cases a husband and wife.
- Most insurance companies require that you have at least 50% of your eligible employees covered on the group plan. Can you insure less than 50% of your total employees? In many cases yes. This is something that we would analyze on a case by case basis.
- Most companies pay from 50-100% of the employee premium and little to none for dependents. Subsidizing your employee’s premium is not a requirement from all carriers, so this is also something we would discuss on a case by case basis.
- You can start a group plan any time of the year.
- All pre-existing conditions are waived for small group plans.
- You can cancel a small group plan at any time.
You can offer a plan to your small group employees in Tennessee that is just as rich in coverage and benefits as would be from a Fortune 500 company. It’s a great way to build employee loyalty, as well as an effective recruiting tool when hiring new employees.
The first step in the process is completing a census that gives us the information we need to create initial quotes for your review. You can do this by calling us at 615-376-8899 or visiting our website at www.GroupHealthTN.com and completing an online census.