Indiana Small Business Health Insurance Options

HSA for America’s Guide to Indiana small business health insurance. The guide is targeted at small businesses with 30 workers or fewer and located anywhere in Indiana.

This document is intended to help small business owners, freelancers, and independent professionals provide the best, and most cost-efficient set of employee health benefits possible. So, you can stay more competitive, while still offering the benefits and overall compensation package you need to attract the best available talent and keep them on the job.

Overview of Indiana Small Business Health Insurance Benefit Options

Small businesses in Indiana have multiple options when it comes to providing health benefits to employees.

Option one, the most common, but the most expensive by far, is to implement a traditional group health insurance plan.

Prices vary by age, but according to data from the Kaiser Family Foundation, the average annual cost of employer-sponsored group health insurance covering a worker and family in 2022 was $21,281.

Out of that, Indiana employees typically contribute more than $5,801, on average, toward their health insurance costs.

Indiana’s businesses have several other options that could reduce their expenses. Included are:

HSAs are health-saving accounts
The Health Reimbursement Arrangement (HRA) is a type of reimbursement arrangement
Direct primary Care Memberships
Health Sharing Programs

The right strategy for small businesses is dependent on many factors. These include the size of the business, budget available, as well as age, medical needs, and other requirements.

Read on the go, download our Complete Guide To Small Business Healthcare Plans.

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Indiana Small Business Health Insurance, Geographic Considerations

Indiana is a state with a unique healthcare ecosystem. It includes large cities, such as Bloomington, Indianapolis, and South Bend. But it also has more rural regions, like Monticello and Angola.

Indiana’s employers must consider their distribution carefully. When executives from South Bend choose an HMO for their employees, they are restricting them and their families’ access to doctors within the network. However, many of these workers live and work outside of this network.

Indiana Small Business Group Health Insurance

Most Indiana employers choose traditional group health insurance.

Also, it’s pretty costly.

What’s the process?

The employer will contract with an insurance company to cover the health care of their employees, and in some cases also that of their family.

According to the Affordable Care act, employers with at least 50 workers must provide ACA health insurance coverage for their full-time employees.

Under the Affordable Care Act, the insurance plan must have the following ten coverages. They include:

Ambulatory care (outpatient health services that are provided without the need to enter a hospital)
Emergency services
Hospitalization, such as overnight stays and surgeries
Maternity, newborn and pregnancy care
Mental health services and treatment for addictions to substances, including counseling and psychotherapy
Prescription drugs
Rehabilitative or habilitative services or devices are devices or services that can help individuals with mental or physical disabilities and injuries gain or regain skills
Laboratory services
Health and wellness services for chronic and preventive diseases
The coverage of pediatric services includes oral and optical care. Adults are not covered by dental or vision benefits

ACA additionally requires insurance companies to cover breastfeeding and birth control.

Although traditional health insurance may be the most expensive choice for your business, you will have guaranteed enrollment.

The insurance company can’t deny coverage or raise the premiums if the employee enrolls in the initial enrollment phase when they qualify, during a period of special enrollment triggered by an event that qualifies, or at the open enrollment beginning on November 1st each year.

Small Businesses in Indiana Can Opt Out of Health Insurance

Employers with less than 50 employees are exempt from offering health insurance.

Indiana also has no such requirement. It is not required to offer any health coverage if your company has fewer that 50 employees.

You will not be penalized.

It’s important for all employers to provide health insurance, even small ones. This is because it will be harder to attract and retain good employees if they don’t offer a health plan that competes.

Indiana has a low unemployment rate and employers compete fiercely for the best talent.

Indiana employers are able to a save considerable money if they offer your employees a Medical Cost Sharing or Health Share Plan (more details below). You can pay for some or even all costs.

The Indiana Small Business Health Insurance Alternative: HRAs

As an alternative, you could offer qualified small employer healthcare reimbursement arrangements (QSEHRA) and assist your employees in paying for their personal health insurance without tax.

QSEHRAs provide employers with the following benefits:

1.)No minimum contribution limits

With a QSEHRA, you aren’t committed to a minimum contribution every year, like a pension plan. As an employer, you are free to set your own budget for HRA benefits, and change it as needed each year, based on the available cash flow in your business.

You can control your budget for health care benefits with a QSEHRA.

2.) Flexibility

Offer employees different benefits based on marital or familial status. Employees with dependents can receive a better benefit than employees who don’t have children or are single.

3.) Tax-free treatment for both employers and employees

Your employer contributions are fully tax deductible as a compensation expense. But unlike cash compensation, your employees will pay no tax on their QSEHRA benefit — provided they maintain a health insurance plan that includes the 10 minimum essential coverages specified in the Affordable Care Act.

For this reason, offering a QSEHRA is usually better than simply offering a health insurance stipend that employees can use to buy health insurance or take care of other expenses.

4.) QSEHRAs Encourage Employee Choice

Many traditional group health care plans restrict employees from a wide range of backgrounds to only one or two insurance choices.

They are usually overpriced, and not suitable for employees, because HR and management choose them, and not the workers.

A QSEHRA offers workers and families a wide range of options and gives them the power to select a health plan which is right for them.

Indiana Small Business Health Insurance Taxation on Benefits

Both federal and Indiana laws permit you to fully deduct as a business cost the health insurance premiums paid by your company. Additionally, the premiums paid by employers are tax-free for employees.

Health sharing plans feature lower overall costs. Their monthly costs are also tax-deductible to the employee. However, employer assistance for paying health sharing costs is taxable to the employee.

Indiana Small Business Health Insurance—Disadvantages

Employers and employees alike have some serious disadvantages to the traditional employer-group health insurance.

The Cost
As we mention above, the sheer monthly cost of providing health insurance can be crippling: Especially for labor-intensive industries where labor costs are high in relation to revenue.

Part of the reason traditional health insurance costs so much is overkill: Government regulators in Washington and Indianapolis have loaded up health insurance policies with mandatory coverages and requirements that make little sense for many workers.

By way of example, many traditional carriers charge for mental and physical health care, coverage against drug or alcohol addiction, and even maternity benefits. These are things that workers may not want. This reduces their efficiency and costs.

Inflexibility
Group health insurance plans often offer a “one-size fits all” strategy, which may not adequately address the needs of specific employees and their budgets. By nature, group health plans sponsored by employers tend to provide only one or two options that are not optimal for certain employees.

Workers may be better served by purchasing their own individual plan and taking advantage of the Affordable Care Act subsidy.

It may be cheaper to use a health-sharing plan. Innovative and affordable health insurance alternatives can provide a solution, especially to workers in excellent health with no existing conditions.

Here’s a more detailed look at health-sharing plans.

Administrative burden

Administrative expenses are significant when it comes to managing full health benefits. The administrative costs of managing a full-fledged health benefit are substantial. It is important to perform these duties for the organization’s health insurance plan run effectively.

They are a burden for very small companies who do not have enough employees to support a full time HR team to manage the plan.

Business owners may also use strategies like Health Reimbursement Arrangements or health care stipends.

They encourage them to take out their own policies through Affordable Health Care Act. It is possible that workers can benefit from subsidies. It removes your employer completely from the process and reduces administrative costs.

Plans to Share Health Care Costs in Indiana

In Indiana, small businesses can find health-sharing plans to be an economical and practical alternative to the expensive coverage of traditional insurance.

Indiana’s businesses increasingly use medical cost sharing as a more budget-friendly alternative to group health insurance. Switching from group health insurance plans to medical cost sharing can often save companies up to half on the premiums.

The average Indiana small business can save upwards of $10,000 a year on coverage for a family, and over $3,500 if they only cover one employee.

The programs are a new way to fund healthcare. They allow companies to provide employees with high-quality care while keeping costs down. The premise behind health sharing programs is to share resources between a group or organization.

Health sharing programs entail participants making a predetermined amount of money per year in place of typical health insurance, which involves paying premiums to an insurance provider.

Health Sharing Plans vs. Health Insurance

The health sharing plan is not the same as a health insurance policy.

Health sharing organizations are voluntary associations of like-minded people who agree to help share the medical expenses of other members. In contrast to health insurance companies, which are usually for-profit corporations, health sharing ministries are non-profit organizations.

Mandatory Coverage

Health insurance plans are not required by law to provide coverage that isn’t necessary or wanted. The Minimum Essential Coverage does not apply to Health Sharing Organizations.

Medical cost-sharing plans are not required to cover the cost of addictions treatment for people who never use drugs, for example. And they don’t need to cover the cost of treating injuries because of the members’ drunk driving.

Pre Existing Conditions

Unlike traditional health insurance plans, health sharing plans may impose waiting periods before they will share the costs of treating pre-existing conditions.

They often also impose waiting periods on surgeries, except for injuries and accidents that could not have been foreseen prior to the member’s enrollment.

They also help to reduce adverse selection. These waiting periods are a good way for health sharing organizations to offer a comprehensive set of benefits that costs a small fraction of a policy purchased from the Healthcare.gov Indiana website exchange or an unsubsidized ACA approved group health plan.

Health sharing plans don’t qualify for subsidies under the Affordable Care Act. But the price savings is so great that many people still benefit from switching to health sharing, even if they do qualify for a subsidy, depending on their circumstances.

Since small group health insurance plans don’t get a premium tax credit subsidy under the ACA, switching to health sharing often makes even more sense for Indiana employers.

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Health Sharing and Network Restriction Laws in Indiana

Health-sharing plans are often more flexible when choosing a healthcare provider than the traditional managed care plan, such as PPOs and HMOs. These plans represent by far most of the group health plans sponsored by employers.

In Indiana, most health sharing organizations do not require patients to use providers within their network. Health-sharing plan members are allowed to pick their own doctors or providers. Giving people the right to choose their doctors.

Are You a Business That Can Benefit From Health Sharing?

Every business is different. Choosing the best possible plan, whether it’s a health sharing approach or a traditional group health insurance plan, takes some careful analysis.

The good news is, it’s easy for business owners in Indiana to get a full case analysis and recommendation specific to your organization and workforce.

Just click here to make an appointment with one of our experienced Personal Benefits Managers licensed in Indiana, and we’ll get the process started.

It will help if you have an employee census prepared.

In most cases, switching to health insurance will save thousands of dollars per covered employee. But health sharing may not be indicated if you have workers with pre-existing conditions.

You can always consult with us and get an analysis for free.

Health Reimbursement Arrangements for Indiana Small Business Health Insurance

HRAs are tax-free benefits funded by employers that reimburse employees for their individual health care costs.

Indiana small businesses often do not offer group insurance benefits. Instead of establishing an HRA, the small business establishes one and uses the HRA as a way to offer workers cash so they can purchase individual health coverage on the private market using pre-tax dollars.

Workers can then take advantage of any available subventions, which will further reduce the costs to the company as well as the employees.

Employees can access their HRA money if there is any left after they pay the premium. This includes prescriptions for durable medical equipment, deductibles, and co-pays. HRA benefits, once again, are not taxed to employees.

With an HRA in lieu of a formal group health insurance plan, your employees are empowered to choose the health insurance plans that best meet their needs and preferences

Learn more about Health Reimbursement Arrangements (HRA) for small businesses.

QSEHRAs—The HRA for Indiana Small Business Health Insurance

QSEHRA – pronounced as “Cue Sarah”, is an alternative HRA designed for small companies.

This is a benefit for small businesses that don’t have more than 50 full time employees.

Within certain limitations, businesses are allowed to determine their own QSEHRA maximum allowances. Indiana employers will be able to contribute as much as $5,850 per employee (up to $487.50/month) in 2023. They can also pay up to $11,800 per family member (up to $983.33/month).

The employees use this money to buy their own health insurance through their Personal benefits manager or the online exchange for health insurance. The employee retains the right to a subsidy that they wouldn’t get with a group insurance plan paid by their employer.

If you are the employer, then you have two options: You can either reimburse your employee’s health insurance premiums, plus any medical expenses, or just their premiums.

Special Enrollment Periods and QSEHRAs

You will have to offer your workers a Special Registration Period if your HRA replaces your old health plan. This is a sixty-day window in which your employees may purchase their own ACA approved insurance plan, with guaranteed approval rights.

It will help ensure that your employees are not left without coverage if you decide to replace your existing group health plan with the QSEHRA.

Indiana Small Business Health Insurance HRA Benefits

Health Reimbursement Arrangements, or HRAs, have many advantages.

Tax-deductible for you as well as your workers, the amount you spend to provide HRA benefits to them is not taxable to you.

HRAs are not paid until workers receive them. The money is available as operating capital. The money does not have to be held by a third-party.

You have great flexibility when it comes to designing your own HRA, which includes deciding what expenses are covered.

If workers leave their company or become contractors, they do not lose coverage for health care. In the QSEHRA, workers own and control their health insurance policies. It is the employee who controls their insurance policy, and not the employer.

Indiana Small Business Health Insurance HRA Disadvantages

Workers may not be interested in the responsibility to select and compare their health insurance. Workers may require extra support to help them navigate through the process.

If this is the case, your HSA for America Personal Benefits Manager is here to help. So no worker is left behind.

Just have your workers make an appointment for personalized, individual service, or call 800-913-0172.

Learn more about alternatives to Indiana Small Business Health Insurance.

Direct Primary Care Benefit

Direct Primary Plans (DPCs), an alternative to traditional healthcare, have been growing in Indiana as well as across the US.

Direct Primary Care plans (DPC) present an alternative healthcare model that’s undergoing an explosion of popularity in Indiana and across the country.

It’s a membership-based model: In return for a flat, affordable monthly fee, like a gym membership, your employees receive as many visits as they need, either in person or via telehealth.

DPC’s monthly membership fees start at just $80 and are a viable option for people to take care of their health, without having to pay copays or insurance.

DPC plans offer members unlimited access for routine primary, chronic, and preventive care.

Some of the services that are commonly offered by primary direct care include:

Here are some of the medical services commonly provided by Direct Primary Care doctors:

Preventive care. DPC doctors emphasize preventive medicine and provide services such as routine check-ups, immunizations, and screenings for various conditions.
Acute care: DPC doctors treat acute illnesses and injuries such as infections, colds, flu, minor injuries, and skin conditions.
Chronic disease management. DPC doctors help patients manage chronic conditions like diabetes, hypertension, asthma, arthritis, and others. They provide ongoing care, monitoring, and adjustments to treatment plans as needed.
Comprehensive physical exams. DPC doctors offer thorough physical examinations to assess overall health, identify potential risks, and provide personalized health recommendations.
Urgent care. DPC doctors are often available for same-day or next-day urgent care appointments, allowing patients to receive prompt attention for non-emergency medical issues.
Laboratory and diagnostic services. DPC doctors may offer or coordinate a variety of laboratory tests, such as blood work, urine analysis, imaging studies (X-rays, ultrasounds), and electrocardiograms (ECGs).

Medication management. DPC doctors can prescribe medications, monitor their effectiveness, and make adjustments as needed. They also provide education and counseling on medication usage.
Mental health services. Many DPC practices include mental health services as part of their comprehensive care. DPC doctors may provide counseling, therapy, and referrals to mental health specialists when necessary.
Minor procedures. Some DPC doctors are trained to perform minor procedures in their office, such as suturing lacerations, removing moles or skin lesions, joint injections, and others.
Care coordination and referrals. DPC doctors act as patient advocates and coordinate care with specialists, hospitals, and other healthcare providers when referrals are necessary.

Meanwhile, since there’s no insurance company involved, there are no co-pays, co-insurance, or deductibles to worry about. The monthly subscription covers everything. This means cash-strapped workers can seek the care they need right away. They never need to put off seeing the doctor because they can’t afford the deductible or co-pay.

In order to get coverage for services that DPC does not cover, patients may choose from supplemental plans like high deductible plans, accident insurance or health sharing plans. DPC’s membership already includes routine care, so patients can choose more affordable coverage, like health sharing, than traditional health insurance.

Health Savings Accounts (HSAs)

HSAs (Health Savings Accounts) can be very powerful tools to help workers manage their medical costs, as well as to help keep premiums lower for workplace health insurance plans.

Indiana businesses and residents need all the tax breaks they can get. It’s good to know that employer contributions made by employees into their Health Savings Accounts are fully deductible from Indiana corporate income taxes as compensation expenses.

HSAs allow individuals to set money aside before taxes in order to pay for medical expenses down the road. HSAs are open to both employees and employers, subject to a limit set by Congress to reflect the rising cost of living.

Money in an HSA enjoys tax-deferred growth, and withdrawals to pay for qualified healthcare expenses is tax free.

HSA Eligibility for Indiana Small Business Health Insurance

To contribute to a health savings account, or to enjoy employer pretax contributions to an HSA, employees must enroll in a qualified high deductible health plan (HDHP).

For 2023, the IRS defines a high deductible health plan as any plan with a deductible of at least $1,500 for an individual or $3,000 for a family.

HDHPs cannot have an annual total of out-of-pocket expenses that exceeds $7,500 or $15,000 (for a single person). These limits do not apply for services rendered outside the HDHP network.

Can I combine HSAs with health sharing?

Currently, only one major health sharing plan preserves an employee’s eligibility for pre-tax contributions to a health savings account: The HSA SECURE Plan, which is available through HSA for America.

HSA SECURE Plan combines the benefits of tax-savings and health insurance of a Health Savings Account with cost savings of health sharing.

To be eligible for this plan, employees must have some form of self-employment or business ownership.

>HSA SECURE does not apply to W-2 employees. HSA SECURE is a good option for employees or spouses who have a small business or freelance job, as well as side jobs, but are otherwise healthy and do not need to be treated regularly.

As a small business, you may want to consider the HSA-SECURE Plan as an option that can save both your and partners money.

HSA SECURE would require your employees to register on their behalf. After they’ve established their HSAs, you are allowed to make pretax contributions in their name, subject to the limits set by Congress each year.

Learn more about HSA SECURE.

How Are Indiana Small Business Health Insurance Benefits Taxed?

Now that you know a bit about each of the alternative strategies available to small employers in addition to traditional health insurance, here is a brief table explaining how each of these benefits are taxed.

Plan Type	Employer	Workers
Traditional health insurance premiums	Tax deductible. May qualify for a tax credit (see below)	Non-taxable
HSA contributions	Tax deductible	Pre-tax, up to certain limits. No income limitations.
Health sharing costs	Tax deductible as a compensation expense	Taxable as ordinary W-2 income
Health reimbursement arrangements	Tax deductible	Benefits are non-taxable to the employee
HSA withdrawals	N/A	Withdrawals for qualified medical expenses are tax-free. Otherwise taxable as ordinary income. A 20% penalty for non-qualified withdrawals applies up until age 65.
Direct primary care costs	Tax deductible as a compensation expense	Taxable to the employee

Take Care of All the Levels of the Indiana Small Business Health Insurance Pyramid

As shown in the below diagram, a good package of employee benefits should cover all of the levels of the Employee Healthcare Pyramid, from preventive health care to primary care for early detection and maintenance of health issues, up until catastrophic events.

Indiana Small Business Health Insurance Pyramid

We list the most common insurance solutions for each of the levels in the Care Pyramid… on the left of this diagram shows the traditional insurance-based solutions.

While on the right is a list of a variety of alternatives, which are more cost-effective, to provide meaningful protection for the employees in each level of the Pyramid.

Plan designs that are good will offer employees affordable solutions on each of these levels. The plan should ensure that none of the employees are forced to postpone or skip care simply because they don’t want to pay a higher premium or a higher coinsurance.

With a Personal Benefits manager’s assistance, you can create a good plan that is tailored to your employees and provides solutions at every level of the Care Pyramid. This plan will often cost a fraction as much as a group plan for the employer.

The Indiana Small Business Health Insurance Tax Credit

The Small Business Health Care Tax Credit, passed along with the ACA, allows some small businesses to claim a federal tax credit of up to 50% of their employee health insurance costs.

It is for smaller businesses who employ fewer workers and have a tendency to pay lower wages.

For-profit as well as non-profit organizations can both claim credit.

* Has fewer then 25 employees. Average salaries are around $53,000. It is not common to include owners when determining the number and average salary of the employees in a company. The “fulltime equivalents”, or FTEs, are used for calculating the number and average salary of an organization’s employees. The two part-time employees will equal the full-time equivalent.

Employees must be paid at least a half-price premium.

* Make sure that the coverage you offer is Affordable Care Law-compliant and available in the state exchange.

Tax credits will no longer be available to employers who have 25 or more employees or average wages of at least $53,000.

How do I claim the credit?

You can claim this tax credit on your annual income tax return with attached IRS Form 8941 (Tax-exempt small businesses must file a Form 990-T tax return to claim, even if not otherwise required to file).

Your employees are not subject to tax on the contributions you make toward their coverage.

What if I do not owe any tax this year? Am I able to still claim a tax credit for my business?

Yes. You can carry back the tax credit to use it to offset the income tax liability for the year before or you can carry forward the tax credit to offset the liability over the following 20 years.

The credit can be refunded if you are a business that is exempt from taxes.

For more information on the Small Business Health Care Tax Credit, consult your tax advisor.

Combine Indiana Small Business Health Insurance Strategies

When it comes to maximizing your coverage, combining different programs is a wise move.

Employers frequently find that combining many healthcare packages makes it possible for them to control healthcare costs while also providing complete coverage to their employees.

Consider combining a Direct Primary Care (DPC) plan for normal primary care with a low-cost health sharing plan that covers catastrophic occurrences as one possible cost-effective solution.

This strategy is more cost-effective for both your business and your employees.

Giving employees the opportunity to select between an HDHP HDSA plan and a health-sharing plan as well as the ability to contribute money into a Health Savings Account can provide them with more flexibility.

Now What to Do?

In order to take the best action, you should conduct an employee count and get in touch with us and receive our complimentary analysis of your business’ health plan.

The HSA for America Benefits Manager you are connected to will discuss with you your workforce and family, budget needs, employee contributions, as well as any existing conditions that need to be taken into consideration when creating a new program.

Many of our PBMs have been successful business owners and entrepreneurs in their own rights. They have been in your shoes, and understand your needs as a business owner, and what it takes to recruit and retain the best possible talent to help you remain competitive.

Can I Offer Health Insurance and Health Sharing at the Same Time?

Yes, you can offer both options side by side, allowing employees to choose which plan suits their needs best.

Remember, you may fall short of the required minimum rate of participation if you have too few employees participating in a health plan. HRAs can be used to reimburse employees for their individual health coverage, which is close to that cost.

Frequently Asked Questions about Indiana Small Business Health Insurance

What’s the difference between health sharing and traditional health insurance plans?

In the traditional insurance industry, health insurance covers medical costs. Health sharing is when members pool their money to help cover one another’s expenses.

Health Savings Accounts – How do they help Indiana’s employees to manage their medical costs?

HSAs provide individuals with the opportunity to invest pre-tax dollars to help pay for future healthcare expenses. The contributions of both employees and employers could provide significant tax benefits as well savings on medical expenses.

Are employer contributions toward HSAs deductible from Indiana income tax?

Yes. Indiana tax law allows for the deduction of employer contributions made to HSAs.

What are the requirements for claiming the Small Business Health Care Tax Credit?

Tax credit claims can be made on Form 8941 of the IRS for businesses that make a profit, while small tax-exempt businesses are required to file Form 990-T.

HSA for America doesn’t provide tax advice. To get the full details on how to claim this credit, employers are advised to consult with their tax advisor.

What is an HRA (Health Reimbursement Arrangement) and how does it work?

An HRA is an employer-funded account that reimburses employees for qualified medical expenses not covered by their insurance plan. Employers determine what expenses are eligible and contribute funds accordingly.

Does Indiana have a limit on the size of small business eligible to receive these programs?

Only employers with fewer than fifty employees are eligible for the Qualified Small Employee Health Reimbursement Arrangement. If you employ more than fifty employees or your business grows, you may be eligible for other HRAs.

A requirement of the ACA is that you must provide a health plan to your employees. If not, then you will be subject to a fine. Speak to your Personal Benefits manager if you plan on hiring your 50th employee or the equivalent soon. This could have an impact on your plans.

Do health-sharing plans have waiting periods if you already had a pre-existing condition?

Some health sharing plans do have waiting periods before they cover pre-existing medical conditions. For more details on a specific plan, it’s best to consult the guidelines of that plan or speak with your Personal Benefits Manager.

Do employers in Indiana contribute to employee HSAs?

Yes, employers are allowed to make contributions to their employees’ HSAs, subject to annual limits set by Congress.

Does offering a Direct Primary Care (DPC) plan along with other options for coverage make sense to small business in Indiana?

You can carry the Small Business Health Care Tax Credit backwards to offset your income tax liabilities from previous years or forwards for a maximum of 20 years.

In Indiana, are maternity benefits included in health sharing plans?

Indiana health plans that offer health insurance and provide health sharing benefits often include maternity coverage, which includes prenatal care, labor and postnatal health care. However, certain health sharing plans have limitations on the costs-sharing benefits that are available for children born out of wedlock.

Can HRAs be used alongside other coverage options like health sharing plans or individual health insurance plans?

Yes, HRAs can be used alongside other coverage options. Some small businesses choose to cancel group health insurance altogether and use HRAs to reimburse employees’ premiums for individual policies. However, HRA money cannot be used to reimburse employees directly for health sharing plan costs.

How can I determine which combination of health insurance and cost-sharing options is best for my small business in Indiana?

This is not something you should do alone. Call a Benefits Coordinator You can get a free consultation and analysis based on any specific requirements, such as budgets, employee numbers, or pre-existing problems. It is possible to create a customized plan which maximizes value while minimizing costs.

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