It is a big step to consider getting small business health insurance. But the benefits could far outweigh the costs in the long run. You could also end up with a happier and healthier workforce that are less likely to leave to find a position elsewhere.

Many small businesses do not have a health insurance plan because of the potential cost that is involved. But things are changing. Many employers are now starting to realise that one of the main things that their employees are looking for is a good package that includes a health insurance policy. In fact health insurance is only behind financial remuneration on the list of important factors when an employee considers a job offer.

There is a range of different types of small business health insurance. They can broadly be divided into managed care and indemnity policies. Indemnity policies are where you reclaim your medical bills from the insurer. This may mean that you have to pay the bill and then be reimbursed from the insurer. The advantage of this system is that you have a wide range of providers to choose from. Managed care policies are where a network of health care providers agrees to reclaim their fees directly from the insurer. This means less paperwork for you, but there is less choice in where you can go for treatment.

Health insurance for small businesses does not have to be expensive. In most schemes it is common for the employer to pay at least 50% of the premiums. The employer pays the remainder. You can choose to pay a higher amount if you wish. The premiums that you pay are also 100% deductible against tax. So cost should not be a prohibitive factor when considering small business health insurance.

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