Group Coverage for a Small Business Owner:
As a small business owner, you may be wondering if perhaps it would make sense to obtain medical coverage as a small group rather than as an individual. There are advantages to group coverage over individual plans when available. These may Include:
- Tax deductible premiums
- Compensation to employees without increasing employee taxes
- Good will
A small group employer based plan requires the following:
- 2 or more eligible employees
- 75% of all eligible full time employees must enroll, if not enrolled in another group health plan
- Employees must be on the DE9C filed with the State and be making at least minimum wage, based on 30 hours weekly. (exception - corporate officers receiving salary on a K1).
- 51% of employees must reside in the State which the plan is being set up
For information on group plans, please CONTACT US or for immediate assistance call 559-779-4411.
For additional information, see Group Plan Articles