Best Group Insurance for Small Business

Friday, May 20, 2022 12:40 Posted by Admin

Picking the right group insurance plan for your small business is a big decision. It’s not just about keeping your team covered—it’s about finding the right balance between cost, coverage, and flexibility. With so many insurance providers on the market, each offering different plans and benefits, it can be hard to know where to start.

Whether you’re offering group insurance for the first time or looking to improve your existing plan, it’s important to understand what each provider offers—and what they don’t. Some plans are better for budget-conscious employers, while others offer wider provider networks or better employee perks. But every small business is unique, and there’s no one-size-fits-all solution.

In this guide, we’ll break down the best group health insurance providers for small businesses, highlighting the advantages and potential drawbacks of each. We’ll also explain how Taylor Benefits Insurance can help you compare and customize the right plan for your team.

• For health insurance & all other employee schemes, we have access to every competitive carrier in the market.
• Each year at renewal, we carefully shop our clients’ benefits plans to ensure that their current carriers retain a competitive position in the market.
• Our office administers all of your benefit plans throughout the year, so you never have to deal with them.
• Our agency offers complimentary Cobra administration through a third-party administrator if your organization requires it.
• Our clients can use an integrated online HR management solution for free. Many of our clients use this resource to help them manage their human resources and benefits plans. The system compiles a list of your company’s employee benefit schemes.
• We keep you informed about compliance difficulties and the implementation of new healthcare reform regulations.
• Our clients are treated like family, and our office strives to provide the finest value and service possible.

Blue Cross Shield

Blue Cross Shield is a nationwide health insurance firm that provides individual, family, and business health policies. It is one of the most important health insurance companies in the United States. It is a well-established name, especially for businesses based in California. Their wide network and reliable service make them a strong choice for companies that value coverage quality and network access. However, they may not be the most budget-friendly for every business

The PPO, or Preferred Provider Organization, is the most popular Blue Cross Shield group health insurance plan. You can see any doctor that takes Blue Cross Shield, but you’ll pay less if you go to one of their network doctors.

The HMO, or Health Maintenance Organization, is another Blue Cross Shield plan. With an HMO, you must see doctors who are part of the HMO network and seeing a specialist will almost certainly require a referral from your primary care physician.

Benefits

• One of the most high deductible health plans of Blue Cross Blue Shield is its nationwide network of doctors and hospitals. You’re likely to find a Blue Cross Blue Shield doctor or hospital nearby, no matter where you live or travel.
• Another advantage of Blue Cross Blue Shield is that it offers several plans to choose from, allowing you to find the one that best suits your needs. If you have a family, for example, you might prefer a plan with low deductibles and copays so you don’t have to pay as much out of pocket when you need medical care.
• Finally, Blue Cross Blue Shield is regarded for providing excellent customer service. Customer support representatives are ready to assist you if you have questions about your coverage or need assistance selecting a doctor.

Drawbacks

• One of Blue Cross Blue Shield’s major disadvantages is that it can be more expensive than other health insurers. Because Blue Cross Blue Shield is a nonprofit organization, it is not required to compete on price with for-profit organizations.
• Another disadvantage is that it does not provide all types of insurance. It does not, for example, sell life or long-term care insurance.
• Finally, Blue Cross Blue Shield has a smaller network of doctors and hospitals compared to other health insurers. This means that finding a doctor that takes Blue Cross Blue Shield may take longer.

UnitedHealthcare

UnitedHealthcare is one of the country’s largest small business health insurance providers. It provides people, families, and corporations with a comprehensive range of health insurance products and services. UnitedHealthcare offers a nationwide network of over 1.3 million doctors and hospitals.

Small business Health insurance plans

• Health insurance policies offered by UnitedHealthcare include:
• Health insurance for individuals and families
• Plans for group health insurance
• Advantage plans for Medicare
• Prescription Drug Plans under Medicare
• Medicaid plans
• Children’s Health Insurance Program of the State (SCHIP)
• Services for mental health and substance abuse
• Dental group plans
• Vision plans
• Plans for life and disability insurance

Benefits

• UnitedHealthcare offers the following advantages:
• A broad network of doctors and hospitals is available to you.
• There are several different health insurance policies to choose from.
• A wide range of services is covered in detail.
• Premiums and co-payments that are affordable
• Accounts for flexible spending

Drawbacks

• The following are some of the disadvantages of UnitedHealthcare insurance:
• Deductibles may be high in some plans.
• Certain services may be excluded from some plans.
• Some insurance policies have a lifetime limit.

Humana

Humana is a large health insurance firm that provides a wide range of health insurance options, including workplace health benefits insurance. Small businesses and their employees can benefit from group health insurance, which helps shield them from the high costs of medical treatment. Humana offers a variety of corporate health insurance plans from which to choose, depending on your company’s needs.

One of Humana’s best features is that they provide a wide range of services and tools to assist small businesses. They have a Business Solutions Center online tool that will assist you in finding the best health insurance plan for your company. The Business Solutions Center contains a lot of information on group health insurance plans to make an educated decision about which plan is best for your company.

Humana also offers many groups health insurance plan reductions. If you join up for a Humana health insurance plan, for example, you may be eligible for a premium discount. Humana also provides discounts to small firms that offer health insurance to their workers.

Humana health insurance providers are an excellent option for looking for a respectable and trustworthy health insurance company. They provide a choice of programs and services to small businesses, allowing you to select the best option for your company. Furthermore, Humana offers group health insurance discounts to help you save money on your premiums.

Benefits

• Humana has a number of insurance plans that can be customized to meet the needs of small companies. Humana insurance has a number of advantages, including:
• An extensive network of doctors and hospitals from which to select
• Competitive pricing
• Options for flexible plans
• Customizable protection
• Online resources and tools
• There is customer service available. 7 days a week, 24 hours a day

Drawbacks

One disadvantage of Humana insurance is that it can be quite costly. Furthermore, some customers have complained that customer care is not always as quick as they would want. Finally, some consumers have complained about the claims process, claiming that it is difficult for them to get their claims validated. Despite these flaws, many people believe Humana provides good value for money and is a responsible insurer.

Aetna

Aetna is one of the country’s largest health insurance firms. It provides a wide range of health insurance alternatives, including group and individual plans. Dental, vision, and life insurance are all available through Aetna.

Aetna’s individual health insurance plans are for people who do not have access to group health insurance through their employment. Medical bills, prescription medicines, health savings accounts, and preventive care are all covered under these policies. Individual health insurance plans from Aetna are available in various tiers for small business owners, including Bronze, Silver, Gold, and Platinum.

Aetna’s dental health insurance plans are meant to cover the costs of standard dental care, including cleanings and x-rays. Major dental procedures such as crowns and bridges are also covered under these policies. For a small company owner, Aetna’s dental plans come in various categories, including Basic, Preferred, and Premier.

Life insurance from Aetna is meant to safeguard your loved ones financially in the event of your death. These group health plans provide coverage for a set number of years, such as 10, 20, or 30. Life insurance from Aetna is available in a variety of forms, including Term, Whole Life, and Universal Life.

Benefits

Aetna insurance has various advantages, including:

• Because Aetna is one of the major insurers in the United States, you can choose from various providers and plans.
• Aetna offers a number of plan options, allowing you to customize your coverage to match your individual requirements.
• Aetna plans include a variety of features and benefits, like preventive care, prescription drug coverage, and more.
• Aetna has a number of discounts and incentives available to help you save money on your premiums and out-of-pocket expenses.
• Aetna provides health insurance which is an excellent option to explore if you seek comprehensive and cheap coverage.

Drawbacks

One of the drawbacks of Aetna insurance is that it can be costly. This is especially true if you need to buy insurance for your entire family. Furthermore, Aetna does not provide as much coverage as some of the other insurance providers. They may not cover preventative care or mental health services, for example.

Kaiser Permanente

The Kaiser Permanente Corporation offers Kaiser Permanente insurance, which is a sort of health insurance. The business is active in eight states and the District of Columbia. It is one of the major managed care companies in the country.

Benefits

• Individual and family Kaiser Permanente insurance options are available. The programs provide a variety of advantages, including:
• Kaiser Permanente’s network of doctors and hospitals is available to you.
• Preventive treatment and screenings are covered.
• Prescription medications are covered.

Drawbacks

• Some disadvantages to Kaiser Permanente insurance policies include:
• Premiums are higher than for certain other health insurance plans.
• The Kaiser Permanente network may not include all doctors and hospitals.
• Outside of the Kaiser Permanente network, coverage may be limited.

Cigna

Cigna is one of the country’s largest health insurance companies. Individuals, families, and organizations can choose from a selection of health insurance plans offered by the corporation. Cigna offers some foreign plans for those who need coverage while traveling or living abroad.

Benefits

Cigna provides its subscribers with various advantages, including access to a network of doctors and hospitals, prescription drug coverage, and savings on health and wellness products and services. The business also offers a variety of programs that may be tailored to match the specific demands of any person or family.

Drawbacks

Cigna does have some disadvantages, such as being a for-profit corporation. This indicates that the company’s principal purpose is to make money rather than give the best possible coverage to its customers. Cigna’s premiums are also frequently higher than those of other health insurance companies.

Cigna may be a suitable option for you if you seek a health insurance plan with extensive coverage and a large range of features. If you’re concerned about the company’s business motive, you should look for another provider.

Oscar Health

Oscar Health is a newer player with a modern approach. It’s perfect for startups or tech-driven businesses that value convenience and online-first service. If you’re in a state where they operate and want basic, easy-to-manage coverage, Oscar is worth considering.

Best for: Tech-savvy startups and businesses seeking simplicity

Pros:

• Easy-to-use digital tools for employers and employees

• Affordable plan options for small teams

• Offers virtual care with no additional cost

• Modern user experience and strong mobile support

Cons:

• Still expanding—limited availability in some states

• Smaller provider network than larger insurers

• Fewer plan types compared to legacy providers

Provider	Strengths	Drawbacks	Best For
Blue Shield	Broad networks, strong support	Higher premiums	CA-based businesses
Aetna	Flexible plans, HSA compatibility	Varies by region	Growing businesses
UnitedHealthcare	Large network, full benefits suite	Higher cost, not ideal for tiny teams	Medium-sized businesses
Kaiser Permanente	Integrated care, affordable HMOs	Regional, limited flexibility	Health-focused regional teams
Humana	Great value, wellness add-ons	Not available nationwide	Budget-minded small businesses
Cigna	Strong flexibility, international access	Premium cost, more complex setup	Global-facing businesses
Oscar Health	User-friendly digital platform	Limited availability and networks	Startups and tech companies

How to Choose the Best Group Plan for Your Business

When comparing group insurance plans, here are a few important questions to ask:

• How many employees do you have? Some providers require a minimum of 5 employees.

• What’s your monthly budget for premiums?

• Do your employees want more flexibility or lower costs?

• Is your business limited to one state or spread across many?

• Do you want to include dental, vision, or life insurance in your package?

This is where Taylor Benefits Insurance can help. We work with all the top providers mentioned above—and many others—to build customized health insurance packages for small businesses.

How Taylor Benefits Insurance Helps Small Businesses

We understand that no two businesses are the same. Whether you’re a five-person startup or a 45-person retail chain, we help you:

• ✅ Compare plans from multiple top-rated providers

• ✅ Get clear answers on pricing, networks, and coverage

• ✅ Understand your compliance requirements under the ACA

• ✅ Customize your employee benefits package

• ✅ Handle renewals, plan changes, and employee onboarding

We’re not tied to any single insurance company. Our goal is to help you find the plan that offers the best value for your business and your employees—without overpaying or dealing with confusing insurance language.

Final Thoughts

Choosing the best group insurance for your small business starts with knowing your options. Providers like Blue Shield, Aetna, UnitedHealthcare, and others all bring something different to the table. The key is finding a plan that matches your goals, budget, and your employees’ needs.

Don’t try to figure it all out on your own. With expert guidance from Taylor Benefits Insurance, you can build a group insurance plan that keeps your team healthy, happy, and protected—while also making smart business sense.

📞 Ready to compare group plans and get a custom quote?
Contact Taylor Benefits Insurance today to find the perfect health insurance solution for your small business.