Small Business Health Insurance in Utah
Promoting healthy living for organizations of all sizes
Did you know that more than 47% of the U.S. private workforce is made up of small business employees, equaling about 60 million people? Employees everywhere deserve health benefits.; however, many small business owners don’t provide any kind of health insurance.
The Affordable Care Act (ACA) determines that employers with over 50 full-time employees must provide health insurance while those with under 50 employees do not. Especially because small businesses often employ part-time workers as well, small business owners don’t always meet the ACA requirements and are under no legal obligation, they don’t consider health insurance as a benefit for their employees or don’t know how to find adequate coverage.
The good news is that there are still many small business owners that want to provide health insurance—but they often don’t know what kind of provider options they have. That’s why Blackrock Benefits specializes in helping small Utah business owners discover innovative and useful ways to provide health insurance to their employees.
Benefits of Offering Health Insurance as a Small Business
While it does take more financial backing, there are also business-related benefits that come with providing employers with health insurance.
59% of small-business owners feel they cannot compete with large-scale businesses that offer better benefits. However, small businesses can still offer great health benefits, which makes them more appealing compared to their competitors. Solid benefits should attract and retain better talent!
Create a Resilient Workforce
The healthier your employees are, the better they perform and the happier they are. With access to doctors, testing, and checkups, even while paying health premiums, people will manage their health and stress better and likely boost their performance at work.
Enjoy Tax Benefits
Providing your employees with health insurance is more than philanthropic; there are also tax credits you may qualify for that will essentially supplement a lot of the cash flow that is going towards health benefits.
To qualify for this tax credit, a business must meet the following criteria:
- Have 25 employees or less
- The average annual wage per worker does not exceed $50,000
- The employer must contribute 50% toward employee coverage
This can make the difference between being able to afford healthcare for your employees and not, and even smaller businesses may qualify for a 100% reimbursement.
We’re Simplifying Health Insurance for Small Businesses
Employers of small businesses need to understand the health insurance options that they have. We strive to empower small businesses while getting them the financial and medical support they need to live happy, healthy, and satisfying lives.
Educate Small Business Owners
Employers don’t have to try and compete with larger companies to offer decent health benefits. In Utah, there are several types of health benefit plans to consider, including:
- PPO Health Insurance Plans
- HMO Health Insurance Plans
- HSA-Qualified Health Insurance Plans
- Indemnity Health Insurance Plans
Inform Using Data and Research
We use data and experience to find an insurance provider that fits your business size, industry, the needs of your employees, etc. Instead of trying to weed down the best provider from 100s of random online options, we help employers make an informed decision based on research and evidence.
Offer Personalized Help
Small business owners must monitor their overhead carefully, which we understand is a top priority. We help employers find health insurance solutions for their company specifically so that you only pay for what you actually need—no extra fluff.
How much does small business health insurance in Utah cost?
Most business owners should plan on paying $200 – $250 per employee per month for health insurance coverage. This amount will vary based on the provider, the age and gender of your employee, and possibly other factors.
How many employees do you need to qualify for group health insurance in Utah?
Small business health insurance in Utah, for group health insurance, usually requires at least two employees, which can include the owner. There are usually a variety of plans that can serve even the smallest companies.
Ready For Better Health Benefits?
If you are a small business owner who needs help finding the right health insurance provider for your employees, look no further; our experts at Blackrock Benefits are eager to assist you with personalized advice while discovering the perfect cost-effective group insurance plan. Contact us today to get started!