Small Business Group Health Insurance

Montana Small Business Health Insurance


Not having Montana small business health insurance is no longer an option for companies. As health care becomes more a priority for the country as a whole, Montana businesses have to step up to the plate and offer quality Montana group health insurance policies to their employees.

This gesture doesnít have to break the bank of the employer or the employee. On the contrary, a group health insurance plan can be found for a relatively affordable cost when you shop from the nationís top providers. You can receive your free quote for Montana small business health insurance right now.

Will This Work For Your Business?

Yes, offering quality Montana small business health insurance is never a bad decision. It helps your employees receive medical coverage and it helps your business receive tax incentives. The amount of money a company spends on premium rates and other employee insurance costs can be used as a tax deduction at the end of the year. So how does your business qualify?

To offer Montana group health insurance you cannot employ less than two or more than 50 full-time employees. That means the employees should work at least 30 hours a week and not be seasonal or contract. Then a business must get at least 50 percent of eligible employees to enroll in the Montana small business health insurance plan, otherwise it will not be recognized.

Companies need to think about what their employees want out of their Montana small business health insurance so they can make sure they have the necessary support, otherwise they will have to offer a more costly medical coverage plan.

Types of Managed Care Coverage in Montana

Managed care is just one option you have for your Montana group health insurance. This type of care operates by keeping employees using this Montana small business health insurance in a specified network. A Montana group health insurance provider will contract with certain hospitals, doctors, nurses, specialist and primary care physicians to offer a discounted medical cost. In order for this plan to work, those with this type of medical coverage must stay within the network.

Health Managed Organization (HMO), Preferred Provider Organization (PPO) and Point-of-Service (POS) are the three most common types of managed group health care. All three vary on the flexibility they allow employees to have with network care. A small business in Montana can create a hybrid of any of these types of group health care for their employees to use.

The most restrictive form of managed care for a small business employee is a Health Managed Organization (HMO). This type of Montana group health insurance plan does not allow any benefits to be used outside of the specified network. Even the primary care physician an employee uses must be within the network.

An HMO Montana small business health insurance plan will not cover any emergency care received outside of the specified network of healthcare providers. While this may seem extreme, these measures help to keep the cost of Montana group health insurance down.

An HMO plan is not like other medical coverage policies in that it does not require the insured person to contribute to the overall final bill. Instead, an employee is responsible for a monthly premium rate and a copayment that is to be paid at the time a medical service is received. The copayment on average is fairly affordable. A small business employee in Billings or Great Falls, MT could pay the same to take a date out to the movies.

Not every one can deal with such restrictive medical coverage however, no matter what the price ends up being. For those employees, a company may want to look into a Montana small business health insurance that uses a Preferred Provider Organization (PPO) plan. This allows employees the opportunity to choose their primary care physicians and use a portion of their benefits outside of the network. An employee will need a referral to see a specialist though.

In order to have this type of flexibility, a PPO plan uses coinsurance meaning the medical coverage provider will split the cost of the medical treatment with the employee. In order to do this fairly, an employee will pay up to the deductible and then the insurance company will take over from there.

A deductible can fluctuate from person to person, but most often, it is recommended to have a high deductible so the monthly premium rate will be lower. This may mean an out of pocket expense after you receive care, but you will save money with a lower premium rate being taken out of your paycheck.

Some MT small business employees just want flexibility and they donít want to hear about deductibles or premium rates. That is why Point-of-Service (POS) is offered. Having this type of Montana group health insurance gives employees the most control over their medical coverage. An employee can choose his or her primary care physician from any network.

If an employee goes outside of the network in a POS Montana group health insurance plan then he or she can use a large percent of their benefits. In the case that the care outside of the network is performed on the referral of your primary care physician, you may use all of your Montana group health insurance benefits. To help cover this flexibility a POS group health plan will use a copayment, premium rate and deductible. To help keep this price low you may want to see about receiving a healthier living discount, such as not smoking or exercising regularly.

Independent Health Care Plans

Employees may not fit into the managed care lifestyle, so they may want to look at different options. One such option is an Independent health care plan. This is particularly good for a person who is self employed in Montana. It gives that person flexibility over their coverage and they do not need to worry who all else is involved in the plan.

An Independent health care option is what most people think of when they hear about medical insurance. This is where a person, in this case the self employed, gets to decide just what type of insurance they want. There are no discussions about networks and a person can see whomever they want for their medical needs.

Independent plans are based off several factors but none might affect your premium rate as much as your medical history. The more sketchy your history the higher your premium rate will most likely be. This same criterion could deny the addition of a spouse or dependent to your small group health coverage option. If a person were to go with a different type of Montana small business health insurance, their spouse and dependent would receive automatic coverage.

The cost of an Independent plan is also higher than a Montana group health insurance since it gives you the most freedom. A small business in Montana can help reduce this expense with a Health Savings Account. Employees can use this account to pay for routine medical treatments instead of using their Montana small business health insurance, meaning their premium rate will not be affected.