Small business health insurance plans take care of your employees in multiple ways. Group health insurance Reno plans sponsored by your business can be deducted as a pretax expense through Section 125 of the IRS Code. This will help your business and your employees reduce the taxable income for the year. Furthermore, these small group health insurance plans are much lower in price compared to health insurance Nevada individual and family plans. These plans have steadily increased in price each year since 2014. The Division of Insurance approves the rates for both small group plans and individual plans. In recent years, certain small business health insurance plans have decreased in price when they renewed.
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Individuals looking for coverage outside of a small business health insurance plan are left with limited options. In 2018 and 2019, the majority of counties in Nevada have 1 or 2 total insurance companies available. The lack of insurance options can prevent people from finding a plan that covers their needs correctly. Furthermore, it is becoming more difficult finding a plan with an adequate network list since almost every policy is HMO.
When you provide health insurance benefits to your employees, you are buying them options. There are many more insurance companies available in the small business health insurance market. Most of the PPO plans have nationwide network lists, which is something that is not available in the individual and family market since 2017.
Helping Grow Your Business
Due to the significant advantages of getting coverage through a small business health insurance plan, many people are shopping for jobs that offer benefits. Companies that do not offer health insurance benefits may have a tough time finding skilled employees. More and more companies are adding health insurance benefits to make sure their business can grow. In an ever-growing market like Reno, it is important to stay competitive with other businesses in your industry.
Shopping for health insurance small business plans is easy with a broker. Our licensed brokers will send you group health insurance quotes for medical, dental, vision, life, and disability at no cost to you. Contact us today to see how we can help grow your business!