Health InsuranceIf not, then you will need to get health insurance coverage. If you're looking solely for yourself and/or your family it's should be a cut / dry decision based on required coverage and coverage cost. If however you have employees then you have a few more considerations. Some States have mandatory requirements concerning employee health insurance coverage and others don't. You need to make sure what your State's are. The other thing to consider is what type and how much coverage to provide. In other words are you going to get a HMO policy or a PPO policy (there are big differences especially in premiums). Are you going to provide dental and Vision coverage?
As can see you will have enough coverage options and you hould definitely consult with an insurance broker to determine which ones is right for you and your company. Another thing to consider before automatically picking the cheapest, is that your company's health benefits are part of your overall employee compensation package and this is mostly deductible (check with your accountant). This means that it would be better for you to provide $1000 worth of benefits to your employee rather than $1000 towards their salary. Why? Because you'll have to pay employer contributions to that salary, so it'll
end up costing you more. In any case, make sure to consult with both your
accountant and insurance broker before selecting your employees coverage.
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