Small Business Insurance
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Benefits of a Small Business Plan
Plans are paid pre-tax.
- This means they are calculated before Medicare and Social Security, as well as federal taxes.
- This is usually the largest single tax deduction allowed by the IRS.
- In addition to lower premiums, employees will also pay for their plan with pre-tax dollars.
More Policy Options
There is a greater selection of insurance companies for group plans in Nevada.
- This gives you flexibility when starting a plan to choose a company that fits well with your demographic.
- You can also switch carriers at any time during the year. You do not have this option if you are on an individual insurance policy.
- Rates for group plans are also generally more stable from year to year. Increases are usually not as high at your renewal.
Our office can help you find the best fit for your business or help you switch if you are unhappy with your current carrier.
Your plan will have more providers in-network.
- With a greater selection of PPO plans, your employees can enjoy more choices and freedom.
- Some plans also come with a national network. This can be a great option if you have employees that are working in other states.
- In addition, most insurance companies have a larger doctor list specifically designed for groups.
We will help search for specific doctors in-network for your employee's needs.
Small Business Requirements
You may be eligible for a small business plan if:
- There are 2 or more full-time employees.
- You have a current Nevada state business license.
- Your business filed a Quarterly Wage and Contribution Report last quarter.
Each insurance company has its own requirements for how many employees must enroll.
- Depending on the insurance company, 50% to 75% of eligible employees must enroll.
- Although, employees with other credible coverage can be excluded from this count.
- Owners may enroll as long as they are taking a wage from the company. A W-2 or K-1 can prove this.
Association Health Plans
Due to new regulations on health insurance, businesses in Nevada can enroll in association health plans.
- Savings on these plans can be anywhere from 5% to 20% less a month.
- While there are some differences, association plans are still considered fully qualified.
- Your business will have to be part of each association to be eligible for the policy. This usually includes a fee, but the savings on your monthly premium will outweigh this.
Our brokers can determine if your business is eligible and quote every association plan.
Read more about how we can help you and your business today
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