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As a small business owner, you want your employees to continue being happy and healthy. You want to choose the best option for your employee health insurance plans, which includes a dental plan. In this day and age, benefits are as important as salary for job seekers. This is why you should get a group dental plan that is right for you and your employees. Group dental insurance is an employee insurance policy that helps cover dental costs. This could range anywhere from a routine cleaning to a root canal.
When going with an Indiana Health Insurance Agency, you want to go with someone you can trust. Nefouse & Associates is the leading health insurance broker for group dental health insurance. We offer our clients the most competitively priced dental plans with the broadest network access. If you are trying to decide who to trust with your insurance and has a long history of providing Hoosiers with affordable health care you should choose Nefouse & Associates. We were one of the first pioneers in Indiana for providing health insurance coverage under the Affordable Care Act.
Nefouse & Associates offers our clients customizable dental plans. Each plan is carefully curated to your needs. If you have any questions regarding your dental plan or how to get a customizable dental plan, contact Nefouse & Associates today!
The plan of a small plan can be one of the most important aspects of attracting and retaining employees. With small groups, one common mistake an owner will make is to design a plan that they want for their family, in many situations the employees may not be able to afford that plan design, so it’s essential to keep that in mind.
The days of $500 deductible have passed with the rise in the cost of health care. The most common deductible in a small group today is $2,500, and this can be considered rich benefits. Offering multiple plans is beneficial with employees and what stage of their life they are in or what they can afford. Some health insurance companies have requirements on employee count to offer a dual option, while others have no requirement to accept at least one employee taking the plan.
Each network has its pros and cons: PPO appear to have the greatest network access, and there is something about knowing if you choose to go out of network, there is still coverage.
The EPO has gained popularity because it brings a certain level of savings to the health plan. The HMO typically will be the most cost-effective because the narrow network has deeper discounts on medical services. The HMO Hybrid is used to help steer members into the most cost-containment narrow network.
In today’s market, there are few options when it comes to individual health insurance. Currently, Indiana has just two insurance companies offering coverage, and they can only be purchased through the marketplace. With purchasing a policy through the federal exchange, a policyholder may also be eligible for an advanced tax credit (ATC). The ATC is determined by household income, if one qualifies for the tax credit, that can significantly reduce the monthly premium. Under the ACA, a qualified recipient would pay no more than 9.5% of their household income in premiums. To be eligible for the ATC, household income must be under 400% of the federal poverty level. Applying for the federal tax credit has become complicated because one must project what they think their income will be. If the income expected is understated, then you could end up having to pay the tax credit back when you file your taxes.
An Indiana Health Insurance Agency
With the passing of the Affordable Care Act (ACA), small group fully insured health insurance moved to guaranteed issue, where the small group claims experience did not determine the cost of the plan. The process of installing a small group fully insured plan is relatively simple because the rates that are quoted really will only change if enrollment changes.
As it stands, few carriers offer fully insured small group health plans, which creates a quick turnaround time on running rates for the market. There is a solution for groups that would step outside of the guaranteed issue small group market to reduce costs and even increase benefits. This option has a few different names, level-funded, partially self-funded, or fully funded self-insure. This option allows for a small group to go through underwriting, which can significantly reduce costs. If a small group has younger employees, they are a prime candidate for a level-funded plan.
Small businesses are eligible for the Federal Tax Credit if they meet certain criteria, such as:
The Federal Tax Credit was created under the Patient Protection and Affordable Care Act, or PPACA, and was designed to help lower the costs of health insurance and medical services. If you think you might qualify for the Federal Tax Credit, contact us today to speak to one of our agents!
