Kaiser Permanente, known widely as simply ‘Kaiser,’ currently provides insurance coverage to roughly 12.5 million people. They are the largest managed care organization in the nation, operating in eight states. Whether you’re a small business owner looking to provide health insurance to your team or you’re an employee wondering what your group coverage options are, we’re here to help.
Small group health insurance is exactly as it sounds – health insurance coverage that is designed for small businesses, and organizations, that want to provide collective coverage to their employees and their employees’ dependents. Though, there are a number of eligibility requirements in order for your business to qualify to sign up for a small group health plan:
Whether your business has numerous locations across the country, or you’re a small entity that operates in one city, it’s important to have a variety of flexible options to accommodate your ever-evolving needs. Fortunately, Kaiser has a number of group health insurance plans that can be tailored to businesses of all sizes. Though, their coverage options vary slightly depending on whether your business is considered small or large.
So, the first step in getting small group health insurance for your employees is to determine if your business is, in fact, deemed ‘small’ in the insurance world.
According to the Affordable Care Act (ACA), whether a business is small or large varies based on where it is located:
By using this information, you can determine whether your business is eligible for a small group rate or if you must obtain coverage via the large group market.
As the owner of a small business, it is in your best interest to provide your employees with health insurance. Ideally, you want their options to be adaptable, affordable, and easy to understand. For small businesses, Kaiser offers a wide array of plans to choose from and, depending on the number of qualified employees, you may be able to offer multiple options so they can select the plan that suits them best. With that said, let’s take a look at the main types of small group health plans that Kaiser has to offer:
HMO, or ‘Health Maintenance Organization’ plans provide the insured with a whole network of doctors, hospitals, and other healthcare providers. However, in order to enjoy your plan’s benefits, you are only allowed to use in-network providers. HMO plans offered by Kaiser come with predictable cost sharing and out-of-pocket maximums, which make managing health care expenses easier for employees.
Kaiser’s Deductible HMO Plans still give you coverage at affordable rates, but with more options. With an employee out-of-pocket cost, monthly payments are lower than traditional HMO plans. As a result, employees will enjoy reduced premiums, while maintain the same excellent care and access to doctors and facilities.
With Kaiser’s HRA and HSA-Qualified Plans, premiums are lower than other plan types and there are tax benefits as well. With either the HRA or HSA option, employees get more control over their medical care expenses. They also enjoy convenient access to online tools and the same services as those provided by traditional HMO plans.
These Kaiser small group plans give you the best of both words, by combining traditional deductible HMO plans with a health reimbursement arrangement (HRA). With these plans, employees have more power over their health care spending, preventative care, and online support tools.
PPO, or ‘Preferred Provider Organization,’ plans, unlike HMO plans, do not require you to choose a primary care physician (PCP) to manage your care. Overall, these plans give employees the most flexibility, as they benefit from referral-free access to contracted PHCS Network doctors or any licensed provider they desire. They the perfect option for employees who frequently end up outside of Kaiser’s service areas or simply want care from an out-of-network doctor from time to time.
Kaiser’s point-of-service (POS) plans pair a Kaiser traditional HMO plans with a PPO to provide the most inclusive options within Kaiser service areas. These plans are best suited for those who want the option to go out-of-network but still with HMO level savings.
Small business owners who choose to purchase small group health insurance must pay for a percentage of their employees’ monthly premiums. The minimum required employer contribution varies based on state, but most require no less than 50% contribution. Though, you can always pay more. In order to understand Kaiser small group health insurance rates, you must understand the different group health insurance costs involved.
Premiums are simply the monthly membership fee that employees pay to keep their coverage active. For employer-sponsored plans, the premium comes out of the employee’s paycheck. Premium costs vary from plan to plan and each plan is different.
Though, the average monthly premium for health coverage for an individual in the United States from 2018 to 2021 was $340 to $525. While premiums vary based on location and plan time, you can use these numbers to give you a general ideal of what employer contributions may be.
The services that are provided will depend on the specific health plan, thus, impacting your out-of-pocket costs. Out-of-pocket costs are simply how much you pay out-of-pocket for medical care on the day. The plan will outline how much is covered for certain medical services, and then how much you must pay. With that said, here are some out-of-pocket costs to be aware of:
Have more questions about small group health insurance, what plans Kaiser has to offer, and what your coverage costs will be? The team at Taylor Benefits Insurance Agency can help! Contact us today to start developing the best plan for your small business.
We’re ready to help! Call today: 800-903-6066