Health Insurance for Small Business 2021: The Only Guide You'll Ever Need
OPTION ONE: Employees Obtain their Own Coverage
It’s easier than choosing and administering a health benefit
CONS
Offering no health benefits can make it hard to attract new talent
PROS
OPTION TWO: Small Group Health Insurance
PROS
CONS
Employer and employee contributions are both tax-deductible
Group coverage is not always more affordable than individual plans
OPTION THREE: HRAs for Small Business
PROS
CONS
Employers can set the rules of their own HRA
HRAs require the employee to have their own individual coverage
OPTION FOUR: Health Sharing Plans for Employees
PROS
CONS
Health sharing is one of the most affordable benefit options
Health sharing contributions are not tax-deductible