Best Small Business Health Insurance for 2019

Read customer ratings and financial ratings for the best small business health insurance providers. Includes FAQs about group insurance plans.

Updated on September 15th, 2019

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Small business health insurance is a solution for small businesses that is designed to provide health insurance to everyone in your company. Through a group insurance plan, your employees can have access to benefits and medical coverage at a discounted rate.

Our Pick

Coverwallet

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Best Small Business Health Insurance Providers:

Our Rank

Company

AM Best Financial Rating

1.

CoverWallet

A

2.

Humana

A-

3.

Nationwide

A+

4.

State Farm

A++

5.

Allstate

A+

6.

United Healthcare

A

7.

Blue Cross

A-

8.

Aetna

A

9.

Sun Life Financial

A+

10.

Aflac

A-

11.

Great West Life

A+

FAQs:

How much does health insurance for a small business cost?

A small business health insurance plan could cost anywhere from $350.00 to $600.00 per employee per month. The total cost of insurance for employees depends on the coverage options included in the plan, and the number of employees that you have.

See our full list of small business health insurance providers.

Small Business Group Health Insurance

What is the best health insurance for a small business?

See our full list for more information.

How many employees do you need to qualify for group health insurance?

In some states, a business that consists of one person is recognized as a group and can meet the requirements for small business medical insurance. Check your state laws regarding this.

How do small business owners get health insurance?

Employer health insurance is the same as employee coverage because even though you own the business, you are still technically an employee of the corporation. Health insurance for business owners is very important, so you qualify for the same coverage as the rest of your employees.

How can I get cheap health insurance?

Group health insurance is cheaper because the premiums are divided among your staff and the insurance provider will give you a group discount for combining coverage.

What is the significance of the AM Best financial rating?

AM Best's financial ratings are third-party ratings of the financial health of a company. Your insurance provider's financial rating is important because it reflects their ability to pay out claims.

Small Business Health Insurance Requirements

What are some small business health insurance requirements?

Business must have between two and 50 employees and 70% of the employees must either enroll for the group plan or have coverage elsewhere, in order to qualify for small business insurance.

What does the average small business health insurance cost?

The average cost for small business group health insurance is approximately $600.00 per employee per month or $7,200.00 per year.

Is there a term limit for small business insurance plans?

There are different small business health insurance options when it comes to terms, but most policies are billed on an annual basis. When the billing year ends, you can renew the policy if you want to or cancel if you find better business health insurance.

What is the Small Business Health Options Program?

The Small Business Health Options Program (SHOP) is a government program that partially funds health insurance for small business. You can enroll in SHOP through your insurance agency or through a SHOP broker.

Are small business insurance plans mandatory?

Just like general liability insurance, healthcare for small business employees is not mandatory. However, any business with over 50 full-time employees is required to provide health insurance.

Are group health insurance plans cheaper than individual plans?

Yes. Group health insurance is cheaper because the premiums are divided among your staff, and the insurance provider will give you a group discount for combining coverage.

Small Business Group Health Insurance

What are some small business group health insurance providers?

What is the best small business health insurance in California?

Aetna and United Healthcare are some of the best small business health insurance providers in California.

Does insurance for small business employees also cover their family members?

Some small business group health insurance plans include coverage for spouses and children of employees. This option may cost extra, but often the additional cost is minimal.