Mississippi Small Business Health Insurance
options for Mississippi small business health insurance are
improving each day and employers and employees can learn how to
save money now. Companies of all sizes are looking into better
health care options for their employees and this site offers
free Mississippi group health insurance rates. This will give
employees more options for their medical coverage. Start your
search now for a more affordable and higher quality Mississippi
small business health insurance plan.
Companies That Qualify for Mississippi Group Health Insurance
A small company qualifies for Mississippi small business health insurance when they have at least two and no more than 50 full time employees on the payroll. A full time employee must work at least 30 hours a week and not be contract or seasonal. If a company meets this employee quota then they must get a certain percentage of them to choose to enroll in the Mississippi small business health plan.
Most Mississippi group health insurance providers require that companies get at least 50 percent if not up to 75 percent of their eligible employees to enroll in the small company medical coverage. That is why companies need to think about what employees want out of their Mississippi small business health insurance. If they do not receive the necessary amount of participation then they cannot receive the discounted rate of group health insurance.
What is important to you when it comes to your Mississippi medical coverage? That is what you have to think about when choosing a Mississippi group health insurance plan. Some employees are focused on affordability, while others worry more about flexibility in health care coverage. Not everyone is going to have the same reasons for choosing a plan, so he or she will need to weigh what is important to them and make the necessary adjustments to the plan.
The following is a brief explanation of the different types of group health care options available to a Mississippi small business including Health Managed Organizations (HMO), Preferred Provider Organization (PPO), Point-of-Service (POS), Individual and Health Savings Account (HSA).
Medical Coverage Options for MS Small Business Health Insurance
Managed care is different from the more traditional forms of Mississippi group health insurance coverage such as an independent plan. A Health Managed Organization (HMO) is the most common of the managed care systems for a Mississippi small business. It is also the most restrictive form of managed care offered to employees. It operates off a strict network of health care providers including hospitals, primary care physicians, specialists and other health officials.
For employees that choose to use a HMO Mississippi group health insurance they must stay within the specified network in order to receive benefits. If someone receives care outside of the network, they cannot receive payment for that care, even if it happened in an emergency. This type of restrictive format is a negative for some employees looking at Mississippi small business health insurance. However, the price of an HMO is very affordable and is seen as a positive for both businesses and employees.
An HMO plan only requires a person to make a copayment at the time he or she receives any medical treatment. This copayment is generally low in cost. A comparison could be made to the amount a person pays to see a movie or purchase a newly released DVD to be around the same amount as an HMO copayment. Of course, a copayment will vary from plan to plan.
The next form of managed care offered is a Preferred Provider Organization (PPO) option for Mississippi small business health. This type of managed care offers slightly more flexibility than an HMO, but around the same price. It does this because in addition to a copayment it also charges a deductible. A deductible is how much a person pays before the medical coverage company handles the remaining portion.
A PPO plan uses the same strict network, but if an employee has to receive care outside of this network, he or she can use a portion of their Mississippi small business health insurance benefits. However, they must still receive a referral from their primary care physician to go outside of the network to have any of the Mississippi small business health insurance benefits transfer over.
A third option for managed care is Point-of-Service and this offers Mississippi employees the most flexibility in their medical group health coverage. On the downside, this can also be the most expensive form of Mississippi group health insurance for a small business. It also uses a deductible and a copayment. One way to manage the price inflation of this plan is to have employees choose a higher deductible. More often than not, plans that have a higher deductible will offer a lower group health premium rate to employees.
The POS plan allows employees the option of choosing their primary care physician from any network, not just the specified health care network like an HMO. He or she can also use their full benefits if it is necessary to go outside of the network and he or she has the referral from their primary care physician. That is indeed a better benefit than an HMO. If an employee goes outside of the network without a referral, he or she can still use a portion of their benefits.
Alternatives to Managed Care for Mississippi Group Health Insurance
There are other plans that an employer and employee can choose from instead of managed care for their Mississippi group health insurance needs. While managed care may have an overall more affordable rate that does not mean that an employer or employee cannot find an Independent health care coverage plan that he or she can afford.
An Independent health care coverage plan gives an employee the most flexibility. They can choose who their primary care physician is regardless of company affiliation and do not have to worry about their benefits being reduced if they go outside a network. A downside to this plan is that it may exclude an employee’s spouse and/or dependants. An Independent plan is based off the medical history of an employee. As a result, it can often exclude someone from joining the policy. A Mississippi group health insurance plan is automatically extended to a spouse and dependant.
As an Independent plan, it can be difficult for a Mississippi small business to contribute directly to the plan. However, there are other ways an employer can help an employee with an Independent plan and one such way is a Health Savings Account (HSA). This type of savings account earmarks a set amount to be used for routine health services so an employee does not have to use their insurance and/or deductible.
Employers often help start the savings account and employees will put in an amount each pay period or every quarter. This is a great way to curb insurance expenses, but employees may not be able to transfer these funds to another account if he or she leaves the company for any reason. A HAS can be used in conjunction with an Independent plan, group health plan or any other Mississippi small business health insurance plan.