If you are a small business owner in Indiana, you know that finding affordable health insurance can be a challenge. But it is important to find coverage, not only to protect your employees, but also to protect your business.
Here are a few tips for finding small business health insurance in Indiana:
- Shop around. Don’t just go with the first plan you find. Compare rates and benefits from different insurers.
- Consider a health savings account. If you are looking for a lower-cost option, consider a health savings account. This type of account allows you to save money on premiums while also providing coverage for unexpected medical expenses.
- Make use of tax credits. Small businesses that offer health insurance to their employees may be eligible for tax credits. Contact the IRS or your state’s Department of Insurance for more information.
- Look for a plan that meets your needs. Not all plans are created equal. Make sure you find a plan that meets the needs of you and your employees.
- Ask for help. If you are having trouble finding a plan that meets your needs, contact an insurance broker or agent. They can help you find the right plan for your business.
Small Business Health Insurance in Indiana
Small businesses in Indiana are eligible for a tax credit for monthly premiums paid for group health insurance. The state allows underwriting for health insurance plans, so if you own a company with employees, it is important to speak to them before choosing a plan. If you are unsure of your eligibility, you can consult the Indiana Department of Insurance’s website. It has resources and information designed to help small business owners understand the various options.
In an effort to encourage more small businesses to adopt health insurance plans
The Senate passed Senate Bill 922, which would allow counties to test local programs for small-business coverage. This bill allows county commissions to set up local health care programs, but it also limits their options. The start-up grant would be capped at $1.05 million in FY 2008, and the state Health and Human Services Commission would provide the start-up money for seven programs.
SHOP plans offer coverage for a smaller group. The program can be purchased directly from the insurance company or from a broker. Most states no longer offer SHOP exchange plans, and these plans may not be available at all times of the year. If you own a small business in Indiana, it is best to use a private exchange instead. The benefits of a private plan are similar to those of a SHOP plan.