The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on affordable small business health insurance.
Looking for an inexpensive small business health insurance plan? Here's how to get affordable small business health insurance with a reliable company.
What is small business health insurance?
A small business health insurance plan provides health care for companies with two to fifty employees. The advantages of these plans are:
1. Premiums are lower than with individual plans
2. Coverage is more extensive
3. Contributions made to these plans by employers are tax deductible
What types of coverage are there?
There are two categories of coverage:
Comprehensive health care plans - These plans provide complete medical protection. They pay for your doctor bills, hospital expenses, and prescription drugs costs.
The most popular comprehensive health care plans are HMOs. With these plans you pay a monthly premium to join the HMO and are given a list of doctors and hospitals you must use for your health care. You pay a co-payment of usually $5 to $10 for each doctor visit and your HMO pays your medical bills.
Gaining in popularity are medical savings accounts (MSAs). These plans combine a savings account with a low-cost, high-deductible health insurance plan. You put money into the savings account to be used for minor medical expenses, and use your health insurance plan to pay for major expenses.
These two plans are the most affordable of the comprehensive medical plans.
Specialized heath care plans - These plans provide coverage for a particular illnesses or medical situation. These plans include:
* Catastrophic illness plans - Also known as major medical plans, these plans pay for hospital costs associated with a major illness like cancer or heart disease. They do not cover ongoing doctor visits or prescription drug costs.
* Accident only plans pay for medical costs associated with accidents - sprained ankles, broken fingers, etc. - and do not cover illnesses.
* Specified disease plans pay for medical costs associated with a particular disease such as cancer, heart attack, or AIDS.
Specialized health care plans are usually cheaper than comprehensive plans because they provide only limited coverage.
Where can I find the most affordable plans?
Visit http://www.LowerRateQuotes.com/health-insurance.html or click on the following link to get affordable small business health insurance quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.
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