3) The pros and cons of self-insurance
With a self-insurance plan, small businesses pay out of pocket for their employees’ health care and either absorb or pass on to their workers any premium increases. The upside is that self-insured companies don’t have to worry about employee wellness. The downside is that if your employees rack up high medical bills, you could be on the hook for them—not exactly something most business owners want hanging over their heads.
4) Make sure your employees have other healthcare options
One of your top priorities as a small business owner is to make sure that your employees have quality health insurance options. But depending on how many employees you have, it can be difficult to find affordable health insurance plans in today’s market. That’s why it’s important to compare group health insurance quotes from multiple carriers, so you can find an affordable plan that best fits your company needs.