Health insurance
may or may not provide for prescription costs.
The most common model of health insurance in the United States during the 20th century was as a benefit from employers for employees. Although this model is shifting in the 21st century, many employers still provide insurance for their employees. Health insurance is a complex and expensive subject, with potentially disastrous consequences for not doing it correctly. The whole process is easier if you approach it in a systematic and organized fashion.
Instructions
1. Decide what features you want to include in your company health plan. Some considerations include the amount of coverage, the structure of coverage, co-payments or deductibles, dental coverage, vision coverage, provisions for "nontraditional" care, the level of prescription coverage, the cost of premiums and the flexibility of plan selection. If there are subjects you don't have a strong opinion about, consider polling your employees.
2. Check current state and federal agencies responsible for small businesses and health care. Since 2010, legislation has dramatically increased the tax incentives for businesses that provide health care to employees.
3. Contact health insurance companies and health maintenance organizations in your area. Ask for proposals from each of them. You can instead choose to contact a health insurance broker, who will solicit and analyze the proposals for you.
4. Choose your health insurance plan by comparing the proposals you receive against the priorities you decided on in Step 1.
5. Distribute an information sheet to your employees about the new program. It should include details of coverage, a listing of employees' options under the plan and a clear statement of how much it will cost them out of pocket. It should also include all details currently mandated by law, including the federal FMLA and COBRA statutes. Note that many medical insurance providers will have boilerplate sheets already prepared by experts familiar with these laws.
6. Sign up employees who opt in following the procedures specified by your insurance company.
Tags: health insurance, health care, include details, your employees
