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California Group Health Insurance

Whether you are an employee or an employer it seems that is always something new that you need to be aware of when it comes to California health care coverage.

If you are an employee – should you take the group coverage offered to you at your job or should you seek your own individual plan? How can you best take advantage of a consumer directed health care plan such as a health savings account?

If you are an employer – What plan design would best fit my needs and the needs of my employees? Should I investigate a full scale group health plan or should I maybe lean towards a medical reimbursement plan type apprach with individual policies for each of my workers? How can I best implement a cafeteria (Section 125) plan? Where can I get the CA group health information that I need to make an informed decision? Is there anywhere that I can view some quick price quotes online?

There are many different types of group health plans in the state of CA. There are also many different ways to structure an employee benefits solution, some of which even include individual health plans. Whether you are an employer or employee – do your research and compare quotes from top companies in your California zip code side by side for free by requesting free California health insurance Quotes.

California Group Health Insurance Cost

With the cost of individual healthcare rising, it is natural to assume that California group health insurance rates are rising as well.  If you’re a small business owner, this can hurt you and the employees you offer group health insurance to.  If you’re looking to save money on your CA group health insurance look no farther.  Here are five ways to reduce your California group health insurance costs.

Ways To Reduce Your California Group Health Insurance Costs

  1. Keep Your Employees Healthy:  Many smaller businesses are offering comprehensive wellness programs that offer a wide variety of preventative treatments for their employees.  These include flu shots, disease management for asthma and diabetes, cancer screenings, and even a 24/7 hotline for those trying to quit smoking.  On average, for every dollar invested in these preventative measures, it saved $3.00.
  2. Reduce Coverage:  Sometimes it is necessary to reduce the amount of coverage you offer your employees because of the rising costs of healthcare.  You can do this by asking your employees to contribute more to their plans.  This may be unpopular among your employees, but it is necessary.  If you provide dental and vision to your employees, be advised that most of the smaller businesses do not.  Cutting those from your plan could potentially save you a lot of money in the long run.
  3. Health Savings Accounts:  Many small business owners are turning to health savings accounts to get them through the insurance crisis.  These are tax free accounts that help pay for certain covered medical expenses.  Not only will it relieve some of the cost burden from your company it will also provide tax exemptions for your employees.  The only stipulation is that you have to have a high deductible health insurance policy to establish a health savings account.  These funds can only be used to cover healthcare costs and employees can take the account with them if they decide to leave your company. Health savings accounts generally don’t expire, either.  All contributions and withdraws are tax free and can be claimed on tax returns.  As a rule, health savings accounts are better for those who are healthy and don’t regularly see doctors.
  4. Join A Larger Group:  Smaller businesses generally only cover around 50 people in their health insurance plans.  Obviously, the larger the group is, the less everyone will have to pay.  (Note: this does not imply that individual health insurance is more expensive. It’s often cheaper since high risk candidates aren’t taken into account when determining your rates.) You can expand your group numbers by partnering up with other smaller businesses in California in order to get the lowest cost group health insurance available for everyone.
  5. Comparison Shop:  This gets said everywhere, but it’s true.  The more you shop around for your CA group health insurance, the more likely you are to find the cheapest rates available for purchase.  Spend the extra time getting quotes because it will save you money in the future.  

California Group Health Insurance FAQ’S

Can I Deduct Group Health Insurance From My Business Taxes?

Absolutely.  You can deduct 100% of the premiums you pay.  You may even qualify for payroll tax deductions.

Does My Company Qualify For Group Health Insurance?

If your business is legal, formed for any legitimate business purpose (you cannot form a group solely to obtain group health insurance), and you employ at least two full time employees, you should be eligible for CA group health insurance.    

What Kind Of Health Insurance Can I Purchase?

There are two types of group health insurance.  Indemnity plans and Managed Care plans.  Indemnity plans offer the most freedom to your employees to select their own providers.  There are three Managed Care plans: HMO, PPO, and POS.

How To Choose A California Group Health Insurance Plan

The easiest way to choose the appropriate amount of California group health insurance is to look at your company’s budget and buy accordingly.  You can pick a plan that will pay 100% as long as it is in the monthly budget, or you can choose to pay a percentage of the healthcare costs and have your employees pay the rest.

If money is no issue, you have to look at other options.  Consider the kind of work your employees do.  Manual laborers have different health insurance needs than those who work in an office.  You also want to look at what kind of employees you have and how you’re going to keep them.

For instance, if the employees in your company have recently come from another company with a nice health benefits package, they will be looking for a richer health insurance package.

Get Started Finding California Group Health Insurance Quotes Now!

If you’re looking for CA group health insurance or California individual health insurance, just plug in your zip code to start comparing multiple insurance companies offers today!

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