Hawaii Small Business Group Health Insurance Plans
At Proinsurance Hawaii, we can help you find the right small business group health insurance plan for your employees.
What is a small business?
The definition of small business varies between each state. Here in Hawaii, a small business has 1 to 50 full-time equivalent employees.
Why do I have to cover my employees?
Since 1974, it is required under the Prepaid Health Care Act for all Hawaii employers to provide employees with health insurance coverage under qualified prepaid group health plans. This is law is the reason why a greater portion of residents in Hawaii have health insurance coverage than in any other state in the U.S.
How should I apply for a small business group insurance?
In order to qualify for a small business group plan, you will need a department of labor number and at least one employee on payroll. Communicating with employees before the application is important in order to find out what your employees may want out of their health insurance. A volunteer insurance plan may also be helpful.
Is underwriting allowed?
No. Under the ACA law, pre-existing conditions cannot be used in underwriting. Rates are based solely on age and not the sex of the employee(s).
Are premiums tax-deductible?
Yes, which is why we encourage you as a small business owner to conduct enough research to find out how much tax credit you can receive, depending on how much you spend on employee health insurance.
What are the most common small business group insurance plans?
Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), Point of Service Plans (POS), and Health Savings Accounts (HSAs) are the main healthcare plans that offer a mix of features. These managed care plans pay doctors or hospitals directly for some or all the costs of the medical services you may receive.
To learn about these plans and how group insurance can work for you, give Proinsurance Hawaii a call at (808) 735-0106 today. Our trained agents can answer any questions you may have and get you started on the process of finding the right plan.