Five Tips for Choosing Small Business Health Insurance Plans
Five tips for choosing small business health plans
Providing health insurance for employees is a big decision for small businesses, but it's also an important one. Health plans for small businesses help to build trust, improve morale, and attract and retain top talent. Selecting the right health plan doesn't have to be overwhelming if you focus on key features that matter to your business and your team.
Below, we explore the top five things small businesses should prioritize when choosing a health plan for employees.
Look for comprehensive benefits
Employees appreciate health plans that go beyond basic medical coverage. Holistic benefits — such as mental health services, vision and preventive screenings, and wellness programs — can significantly impact employee satisfaction.
When reviewing plan options, ask whether employees will have access to a variety of services. For example, wellness perks like fitness programs or discounts on healthcare-related items might be valuable to your team. Building a benefits package supporting physical and mental well-being demonstrates your commitment to their overall health.
Assess accessibility of care
Today’s workforce requires flexible healthcare options. Employees want access to convenient care, including telehealth services for virtual consults. Small businesses should look for health plans that integrate modern healthcare solutions, such as virtual consults or 24/7 nurse advice lines. Sentara Health Plans offers a 24/7 Nurse Advice Line and a 24/7 Behavioral Health Crisis Line1 to help support those in crisis.
By providing care options that help employees navigate their health needs efficiently, whether in person or remotely, you create flexibility for your team while helping them stay healthier and more productive.
Prioritize employee wellness
Preventive care and wellness programs are key components of a valuable health plan. Many small businesses overlook how impactful these services can be in improving workforce health while lowering future healthcare costs.
Features that can empower employees to take charge of their health include:
- Chronic condition management
- Fitness incentives
- Nutrition counseling
Make wellness initiatives a priority when choosing your plan. Encourage employees to explore available programs and resources, as small changes to daily routines can result in significant long-term benefits for an employee.
Evaluate plan affordability
Budget constraints are a common consideration for small businesses. It’s essential to evaluate all costs associated with health plans, including:
- Monthly premiums: Calculate the recurring costs to maintain the plan.
- Copayment: Assess the costs for each visit or service.
- Deductibles: Understand the amount employees must pay before the plan starts to cover expenses.
Equally important is balancing affordability with coverage. While some plans may offer lower premiums, they might come with higher out-of-pocket costs. To promote cost management, focus on factors like preventive care coverage, as plans that prioritize wellness can help mitigate long-term health expenses.
Health Savings Accounts (HSAs) are a valuable consideration for groups looking to save costs. HSAs allow employees to set aside pre-tax funds for medical expenses, providing both savings on premiums and flexibility in managing health care costs. Comparing multiple options is key to finding a plan that fits your business’s budget without compromising employee health.
Streamline plan selection and management
Managing health benefits can be challenging for small businesses. Choose health plans that effectively communicate and offer resources to employers. Quick access to support and information empowers both you and your employees to feel assured about the plan’s features. For instance, plans that provide direct access to specialists or intuitive digital tools for tracking coverage can minimize the time spent on paperwork and navigating complicated systems.
Sentara Health Plans assists business owners with their health insurance needs, allowing you to concentrate on the more intricate aspects of running your business.
Why Sentara Health Plans?
Sentara Health Plans is your partner in holistic, accessible healthcare. As a Virginia-based provider, we specialize in building plans that cater to small businesses and their unique needs.
By choosing Sentara Health Plans, you can offer your employees high-quality care and innovative wellness programs while sticking to your budget. Investing in the right health plan for your small business makes financial sense and represents a commitment to your employees’ well-being.
With Sentara Health Plans, you can offer holistic support and modern healthcare access that keeps your team healthy, happy, and productive.
1Members with thoughts of harming themselves or someone else should get help right away by calling 911 or by going to the closest hospital for emergency care.
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