Group Health Benefits For Small Business

What You Need To Know About Group H…

Health1 hours ago A small business must consider the following to be eligible for traditional small group coverage:

1. Group health insurance coverage. A group health insurance plan, like a plan purchased through the Small Business Health Options Program (SHOP) or otherwise from a private insurance company, provides coverage to eligible employees.
2. Health reimbursement arrangements. Health reimbursement arrangements (HRAs) are a type of group health plan. HRAs allow employers to help their employees pay for medical expenses, including premiums for individual coverage in some cases.
3. Health Savings Accounts and other tax-favored health plans. There are various health plans that are designed to give individuals tax advantages to offset health care costs.
4. Association health plans. Certain associations can sponsor group health plans that allow small businesses to band together to obtain health coverage as if they were one large employer.
5. Short-term health insurance. Short-term, limited-duration insurance is a type of health insurance coverage in the individual market that was primarily designed to fill gaps in coverage that may occur when an individual is transitioning from one plan or coverage to another plan or coverage, such as in between jobs.

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