If you are trying to decide between traditional health insurance or a healthsharing plan, it might be easier to decide if you can look at the best choices within each option. Here, we will detail the top three healthshare and health insurance plans in Ohio for small businesses to help you make the right choice for you and your group.
Healthsharing and health insurance plans sound similar but there are key differences, as well as pros and cons to each. The options for group health insurance for a small business can seem overwhelming, but we will help you sift through the information.
Small Group Health Insurance Plans in Ohio
Traditional health insurance is often something that small business owners choose because it is well-known, tried and true. People usually know how to navigate traditional health care plans and are used to using them. However, access to care can be difficult and take a long time. Providers tend to be overworked, making patient visits hurried and lacking thoroughness.
With traditional health care, the small business owner pays a large share and the employees pay a premium, and then usually have large deductibles and/or co-pays throughout the year for various types of visits and services.
Blue Cross Blue Shield OH
BCBS small business plans provide a trusted resource for healthcare for many American business owners and their employees. They have a highly competitive small group plans (including HSA options) for Ohio businesses.
When you choose BCBS of Ohio for your health insurance plan, your group will have access to:
- Online health assessment tools to measure overall health
- Personal health coaching programs, such as weight management and smoking cessation
- 24/7 nurse advice over the phone about routine medical issues or questions
- Comprehensive health site with information including provider listings, hospital ratings, prescription costs, wellness blogs, and more
Rates for BCBS don’t vary by Ohio zip code or the date that a policy is taken out. Rates might change periodically, however, although they typically change on the anniversary date of the policy.
Premiums can be paid however is convenient, whether that is monthly, quarterly, semi-annually, or annually. They can also be automatically drafted from a bank account on the first or sixteenth of each month. BCBS accepts a check or credit card for the initial payment.
Medical Mutual of Ohio
Medical Mutual has been around longer than almost all the other Ohio health insurance carriers, boasting 80 years of customer care and satisfaction. Their range of HSA-compatible plans is widely varied and affordable.
Choosing Medical Mutual of Ohio provides programs such as:
- Personalized health assessments based on lifestyle, habits, overall health, and any pre-existing conditions
- A plan to continue making healthier choices to prevent future medical problems
- Weight Watcher reimbursement when a beneficiary completes a year on the program
- Support and supplies for quitting smoking
- Fitness club and gym discounts
MMO doesn’t stop there, though. They offer a host of interactive wellness activities to keep people moving forward with their personal health and wellness goals.
Request a Group Quote for Your Small Business
HealthShare Plans In Ohio
Healthsharing for small groups in Ohio is dramatically less expensive than traditional health insurance.
Healthshare plans are not the same as Ohio self-employed health insurance – in fact, they’re not insurance at all. They are simply like-minded groups of people who have come together to share medical expenses.
Be aware that healthshare plans do typically place waiting periods pre-existing conditions. Some healthshares also have a religious component that might not align with all employees’ beliefs or values.
HSA Secure
HSA Secure is an HSA-qualified MEC insurance plan that is combined with a health sharing program. This combination of a health share plus a health savings account offers unlimited lifetime benefits in conjunction with an affordable program that provides tax benefits and flexibility.
With the HSA Secure, you can help your employees put aside money before taxes in to their HSA, to pay for their qualified medical expenses. If they don’t use that money, it grows, just like a tax-deferred IRA. They aren’t limited to keeping this in a traditional savings account, either—they can choose to invest in mutual funds, stocks and bonds, or other assets.
Choosing a combined health share and health savings account through the HSA Secure plan allows your employees total choice in doctors and specialists while keeping healthcare costs low.
DPC Direct
Direct Primary Care (DPC) clinics offer a way to access low-cost primary healthcare such as doctor visits, checkups, and preventive care, without having to deal with deductibles, copays, and other insurance hassles.
For a small monthly fee, typically $50 – $100 a month, a DPC will provide unlimited primary care, including sick visits, checkups, and preventive care, with no copays or deductibles. However, you’ll still need traditional insurance or a healthshare plan for things such as emergency room visits, hospitalization, and surgery.
The DPC Direct is a healthshare plan specifically designed to work for people with a DPC membership. Because primary care is already provided by the DPC membership, the DPC Direct healthshare program is incredibly affordable.
This program works best for businesses where all employees live in the same geographic area, and can all visit the same DPC clinic.
MediShare
MediShare is one of the programs that has a foundational faith component. It is popular with people who want their healthcare to align with their strong Christian values. However, their premiums are often higher than other healthsharing organizations.
Just like all other healthcare sharing programs, members share each other’s qualifying medical bills. MediShare’s founders took on this responsibility based on the Biblical teachings of bearing one another’s burdens. Since their inception, they have been able to share and discount over $1.7 billion in procedures, appointments, and prescriptions for their members.
MediShare programs offer a range of benefits, including:
- Accountability – All members vote on the guidelines, so you won’t have unexpected changes to what you’re helping pay for.
- Affordability – MediShare saves its members about half (and often more) of traditional healthcare costs. Average businesses contribute about $350 each month for a family.
- Biblically Aligned Principles – MediShare and its beneficiaries believe that they should help each other and share their resources. This may not work for all businesses, depending on your employees’ religious values and beliefs.
- Community Connection – Members are encouraged to pray for each other and support each other in their health and wellness journeys.
- No Requirement for Additional Healthcare – Beneficiaries are not penalized for choosing to not carry traditional health insurance. They are exempt from the tax penalties related to the Affordable Care Act.
- Discounts – Vision, hearing, and dental plans come at reduced prices.
- 24/7 Provider Access – Providers are available over the phone or to video chat for non-emergency care.
- Flexible Choice – MediShare has one of the largest PPO networks in the United States, and beneficiaries can also use their own provider.
Compare Pricing on the Best HealthShare Plans Available
Learn more about Healthshares and Health Care Sharing Ministries.
Points to Remember on Health Insurance Plans in Ohio
You can get a general idea of rates in Ohio when you use the HSA for America instant quotes for health insurance or healthshares. However, remember that you will only receive quotes for individuals or families, not groups.
These quotes will be accurate for healthshares; however, small group health insurance prices may vary from the individual/family health insurance rates quoted on the HSA for America quote.
To ensure accuracy, your best option is to fill out the employee census. Then, your best options will be put together for your review.
Get a Quote for your Small Business
Click here to schedule a time to chat with one of our Personal Benefits Managers. If you would like a quote on healthsharing or health insurance plans for your small business, fill out this Small group Census form. We will put together a summary of your best options to assist you in making a choice that works for your company and employees. You can also read our Complete Guide to Health Insurance for Small Businesses in 2024.
