Explore our guidelines to choosing a healthcare plan that works for you and your business.
Choose a date at least 30 to 60 days from when you start the process for coverage to begin.
- Calculate the total amount you can spend.
- Calculate per-employee cost you’re willing to spend.
- Consider cash flow issues.
- Decide what type of coverage you want to provide, such as HMO, PPO, or HSA.
- Understand coverage rules and options.
Decide how costs will be shared. Here are some items to consider:
- How much will employees contribute toward the premium?
- How much will employees have to pay for copayments or co-insurance?
- Learn about how brokers and agents work.
- Ask for referrals from sources you trust.
- Be sure to understand any fees you may be charged in addition to the health insurance premium.
- Weigh the benefits against the plan costs.
- Research the insurers:
- Financial stability.
- Ease of administration.
- Overall quality of service.
- Consider cost-saving strategies.
- Review at least two or three health insurance carriers.
- Review at least two or three different health insurance plan options.
- Sign the contract before the quote expires, usually in 30 days.
- Communicate plan choices to employees.
- Distribute and collect enrollment materials for those to be covered.
- Copy and return all original materials for enrollment before the requested effective date.