The Top 5 Small Business Health Insurance Options in 2019 – PeopleKeep
November 1, 2018
The rising costs of health care aren’t just a problem for individuals—they’ve also impacted businesses that make health benefits a priority for their employees.
Small businesses have been particularly vulnerable. Over the last 15 years, the cost to cover one employee under group health insurance rose nearly 200 percent—from $2,196 to $6,435.
These unsustainable costs, coupled with the hassle and one-size-fits-all nature of traditional group benefits, have caused many small businesses to drop health benefits. As we’ve covered previously, this is a losing strategy for 2019. In 2019 and beyond, small businesses will face a competitive war for talent in which health benefits are vital if these businesses are going to succeed.
Fortunately, there are more small business health benefits options today than ever before.
In this post, we’ll review five of the most popular benefits for small groups in 2019:
- Qualified small employer health reimbursement arrangements (QSEHRAs)
- Traditional group health insurance
- Group-integrated HRAs
- Self-funded health insurance
- Association health plans
We’ll goover how they work, what advantages they offer, and what disadvantages abusiness might have to contend with should it choose these options. We’ll alsodiscuss some regulatory changes in the works that may make new health benefitoptions available in the near future.
And for More Info See This Article: Association Health Plans: 10 Things Small Business Owners Need to Know –Small Biz Trends