Small Business Group Health Insurance

Nevada Small Business Health Insurance


Companies looking at Nevada small business health insurance have more than the bottom line in mind. They want to make sure that their employees have quality medical coverage and they can do that with Nevada group health insurance. Companies find plans that are affordable for their employees when they receive their free Nevada small business health insurance quotes online right now.

Medical coverage is necessary for employees because they have themselves and their families to look after. A quality Nevada group health insurance plan can help them receive coverage and their loved ones as well.

Thereís more to Nevada than just Las Vegas. Companies in Nevada are making big impacts around the world and it doesnít matter what size they are. To help those companies attract the best employees they want to offer quality medical coverage. This is where finding affordable rates is key because you want to offer the best coverage at the best price.

How Your Company Can Qualify

Not every company can qualify for Nevada small business health insurance. While companies in Las Vegas, Paradise and Reno, NV want the fiscal incentives of group health insurance, they may not meet all requirements. First a company must have no more than 50 full time employees. These are employees who work at least 30 hours a week and are not seasonal. Then they must get at least half of them to enroll in the Nevada group health insurance plan.

Once this is accomplished they can receive a discounted rate on their Nevada group health insurance and even a tax incentive. The government allows a company to use the amount they pay out on premiums and other Nevada small business health insurance expenses as a tax write off.

Types of Managed Care in NV

The idea of managed care is appealable to most employers and employees because it comes at a very attractive price. Managed care can come in different packages and price ranges, but the three most common for a Nevada small business are Health Managed Organizations, Preferred Provider Organization and Point-of-Service. A managed care health system operates within a network of providers. This means that a managed care provider will contract with certain hospitals, primary care physicians, doctors and specialist ranging from psychologist, OBGYN, to surgeons.

A Health Managed Organization (HMO) is the most popular of all three Nevada small business health insurance choices because it is the cheapest form of medical care coverage. However, even with the low price associated with an HMO Nevada group health insurance plan some employees are hesitant to enroll in the plan. Many negative stereotypes come along with an HMO plan, but medical coverage companies are improving the plan. An HMO is restrictive in that it offers no group health insurance benefits outside of the network.

Employees can only receive Nevada small business health insurance coverage if they stay in the network. Even if employees receive emergency care outside of the network, no group health insurance benefits can be used. This is certainly a negative for employees because emergencies cannot be foreseen and they do not want to worry about if they will have medical coverage or not. It is a downside, but the price is what makes an HMO attractive. The only cost an employee will pay is a copayment. The copayment, on average, will cost an employee about the same as a large pizza.

If the restrictions do not appeal to the necessary amount of small business employees, an employer may want to get a Preferred Provider Organization (PPO) plan. This type of plan sticks with the affordability option, but expands the network for an employee with this form of Nevada group health insurance. Employees are allowed to use a portion of their benefits if they go outside of the network, but only if they are referred by their primary care physician. In addition, employees who receive emergency care outside of the network may use a portion of their Nevada group health insurance plan.

A PPO plan can be an affordable group health option for a small business because it too offers a low copayment, but it also uses coinsurance. A coinsurance group health option means that small business employees and the medical coverage provider both pay for the medical services received. The copayment is generally low and the monthly premium rate for this type of Nevada small business health insurance can be low when the deductible is higher.

The best type of managed care is a Point-of-Service because it offers employees the most flexibility with their medical coverage. However, employees must be willing to pay a higher price. Yes, this uses a copayment system, but the premium rate is generally higher. That means employees will be choosing greater flexibility over cost saving with this form of Nevada group health insurance. Of course, there are ways that a premium rate can be lowered, such as choosing a higher deductible, so this plan does not have to be in the highest pay scale.

While the price may be a deterrent, the care certainly is not. An employee under this Nevada small business health insurance can choose their primary care physician from any network. They can also use a greater percentage of their insurance benefits when they go outside of the network when compared to that of an HMO or PPO plan. If an employee receives a referral from his or her primary care physician to go outside of the network, he or she can use 100 percent of their benefits.

Alternate Forms of Medical Insurance

Employees do not have to settle for a managed care plan if they want Nevada group health insurance. Independent plans can be offered by small business employers as well. An Independent plan truly gives the employee the most flexibility and allows him or her to choose their coverage. This will come at a higher price, but if care options are the top priority for the employee then this plan will be their greatest option.

One downside to an Independent plan is that it is not automatically offered to a spouse and/or dependant of the employee like other Nevada small business health insurance options. Independent plans are largely based off a personís medical history and some medical coverage providers can deny the addition of a spouse or dependant based on their respective medical history.

Premium rates can be lowered for an Independent plan if an employee does not smoke, works out regularly and chooses a higher deductible rate. These are just a few options that can make this a more affordable health care plan. Businesses can also contribute to the cost of the plan with a Health Savings Account.

A Health Savings Account can be used in conjunction with any form of Nevada small business health insurance. It earmarks funds to be used for routine health services so an employee does not have to draw off their Nevada group health insurance benefits thereby keeping their premium rates down. They generally operate off a startup base from the employer and then the employee has the option of contributing as they would a premium rate, but at a lower cost.