Business Insurance

Group/Business Health Insurance


Are you a business owner? Do you want to offer health insurance to your employees? Are you required to offer health insurance to your employees?

The Affordable Care Act has changed the way businesses are required to offer benefits for employees. Luckily, our team of insurance experts can help you wade through the ACA terminology and figure out what your business’s health care coverage requirements are.


What Are Your Health Insurance Responsibilities as a Business Owner

Having the wrong health insurance options for your employees can result in government penalties for your business. It’s important for you to understand what your responsibilities and options are when it comes to health care coverage for your employees.

Typically, businesses will want to choose between Group Health Insurance Plans and Defined Contribution Plans. However, as a business owner you can’t offer both types of plans.

Here are some of the differences between the two options.


Business/Group Health Insurance Plan Options

Group Health Insurance plans provide actual health care coverage for employees. Plans are purchased by the business and offered to employees and their dependents.

These types of plans can also be called employer-sponsored health care plans. With group health insurance plans, employees are offered specific types of coverage, deductibles, copays and the like.

The company chooses plan providers, and details are spelled out for each offered plan. With group health insurance plans, employers typically cover a portion of the plan’s monthly or annual premium cost, while the employee contributes a portion of the premium as well.


Defined Contribution Plans

Defined contribution plans work a bit differently. With defined contribution plans, the employer contributes a set dollar amount toward each employee’s health care coverage.

The company can also choose a health insurance professional and/or provide other information to help employees choose the correct coverage option for themselves.

Your company’s goal is to educate employees about the advantages of individual health insurance and help them purchase the health insurance plan that’s best for their needs.

The employee is then responsible for choosing and purchasing their own health insurance plan. Your payroll department will be responsible distributing each employee’s employer-based monthly contribution amount.


Which Plan Type Should Your Business Choose?

Without knowing all of the details of your business, it’s difficult to say which type of plan is best for your company. However, our health insurance experts can help.

We’ll walk you through the fine details of each type of plan, while at the same time helping you determine your company’s responsibility as defined in the ACA.

In addition, we’ll help you choose top-rated insurance providers or professionals once you’ve determined the right type of plan for your business.

There are dozens of local health insurance companies that can meet your company’s insurance needs.

Whether your business is located in Phoenix, Scottsdale, Flagstaff, Tucson, Kingman, Glendale or other Arizona cities, we can help. We work with the best-reviewed insurance companies in Arizona.

Don’t leave your company’s health insurance obligations to chance. Call BCBIS today at 602.617.4107. We’ll help you ensure you’re providing the best health insurance options for your business and for its employees.