If you are the owner of a business with at least two employees but less than fifty people, you may qualify for a Georgia small business health insurance plan. This would really benefit you and your employees.
Georgia small business health insurance is a great way of providing medical services for yourself and your employees. Going without Georgia small business health insurance can be a big financial risk to yourself and your employees, if an unexpected illness or injury occurs. Many personal bankruptcies can be traced back to mounting hospital and medical bills that became overwhelming to families. Having Georgia small business health insurance can help minimize those financial risks. Also, a Georgia small business health insurance plan spreads the financial risks of health-related expenses between all of the members, which results in lower premiums to everyone in the company.
For employers, there are other benefits of a Georgia small business health insurance plan, besides the medical coverage. The federal government offers tax incentives to employers who contribute to Georgia small business health insurance policies for their employees. Their contributions to the Georgia small business health insurance plan monthly premiums are tax deductible, generally, and the employer will also save on payroll taxes.
Many business owners want to offer a Georgia small business health insurance plan to their employees because this is the best way to attract and retain high quality employees. Many companies offer Georgia small business health insurance coverage to their employees because that is what highly qualified individuals expect from good full-time employment.
However, the recent downturn in the economy has made it difficult for some employers to continue to contribute to the Georgia small business health insurance plan monthly premiums. Some business owners have recently asked their employees to pay for some, if not all, of their Georgia small business health insurance plan monthly premiums. Business owners state that unemployment taxes and workers’ compensation insurance costs have risen, and are making it difficult to have money leftover in their budget to contribute as much as they would like to Georgia small business health insurance plan premiums. However, they still state that it is important to them to offer Georgia small business health insurance plans to their employees, and they recognize this is very important to their full-time employees as well.
There is also some question as to whether the employer will pay for the Georgia small business health insurance plan monthly premiums of family members also, in addition to their employees’ premium. Often, the business owner will subsidize their full-time workers’ premiums, but each individual employee will be responsible to pay for their family members’ additional costs.
Certain other types of groups, besides businesses, may also be eligible for Georgia small business health insurance plans. These include some non-profit organizations, if they meet certain criteria. One of the necessary criteria is that they demonstrate they have two or more full-time taxable employees. The criteria are set by both state and federal regulations. If you meet the state’s minimum requirements regarding type of organization and number of members in that group, then a health insurance company that sells group health insurance cannot refuse to see you a Georgia small business health insurance plan.
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