2) Small business owners should ask about association plans
If you have multiple business owners in your area who run businesses similar to yours, it’s worth looking into purchasing a group plan for your employees. Association plans are often lower cost and more affordable than individual plans. They also offer better benefits since they cover employees from various companies.
3) The pros and cons of self-insurance
With a self-insurance plan, small businesses pay out of pocket for their employees’ health care and either absorb or pass on to their workers any premium increases. The upside is that self-insured companies don’t have to worry about employee wellness. The downside is that if your employees rack up high medical bills, you could be on the hook for them—not exactly something most business owners want hanging over their heads.