As a small business owner, you may wonder if group health insurance is the right fit for you, your business, and your staff. There are many factors one must consider when thinking of enrolling in group health care. The first factor is your company’s eligibility, then cost and coverage.

Enrolling in group health insurance will bring benefits to you, your business, and your employees. These benefits may include saving your small business money (because of lower insurance costs for a larger risk pool), qualifying your business to receive a credit back on its taxes, and a more positive work environment which equates to happier employees.

Determining the eligibility of your business can seem like a complicated task. However, our insurance experts here at Thomas & Associates in Jacksonville, Florida, are prepared to help you navigate through the process.


The Eligibility Requirements for Group Health Insurance

Small businesses seek group health insurance to provide employees with medical coverage under one policy. Also, by federal law, all qualified businesses are guaranteed group health insurance if they choose to purchase it, and the health of employees does not hinder a business’s qualification under the ACA-compliant plan.

There are two main requirements for a business to enroll in group health:

  1. To qualify for group health insurance, the business must be a legal entity. Regulations vary from state to state, but overall, a small business is defined as having 1 to 50 employees. Sometimes, a minimum number of employees must take part in the group health insurance plan for the company to be considered. Usually, it is required that the employer pays at least 50 percent of their employee’s monthly premiums too, as part of the plan’s cost-sharing arrangement.
  2. A business must have one full-time, or full-time equivalent employee. Full-time equals at least 30 hours a week for more than 120 days of a year. This employee cannot be the business owner or a spouse, and if the employer provides any full-time employee health insurance, it must provide all full-time employees coverage too.


Searching For Group Health Insurance for your Business? Contact Thomas & Associates Today

Investing in group health care coverage is one of the best moves an employer can make to take care of their employees. There is proof that when an employee feels secure at a company, their work has better quality and is more consistent.

Enrolling in health care is not a very black and white process. There are many advantages of having it for you, your business, and your employees. Our specialized agents here at Thomas & Associates will cover the basics to determine if your business is eligible for group health coverage. We will sort through the many Jacksonville, Florida insurance providers to find the plan that works best for your business situation and budget.

There are hundreds of group health insurance providers and we aim to alleviate this stress by finding the one that fits best for you. Contact us today to speak with one of our representatives.