5 Best Small Business Health Insurance In Washington

Small business health insurance in Washington enables companies to provide more affordable access to medical insurance for their employees.

These are typically group policies, which means numerous people from the company are enrolled, helping everyone obtain lower rates or better coverage. These policies are tailored to smaller companies who may wish to offer health coverage to sway top talent to work with them over the larger competition.

The companies that provide small business health insurance in Washington offer competitive rates, flexible coverage options, access to a strong network of medical providers, and availability. Health insurance companies may tailor policies to meet the benefits employers wish to provide to their employees, sometimes offering dental and vision coverage as well as comprehensive medical coverage, giving employees more options.

This article will inform you more about how small business health insurance works and the average cost of small business health insurance in Washington. You will also learn about the best small business health insurance in Washington as well as the reasons to offer small business health insurance in Washington.

How Does Small Business Health Insurance Work?

The Affordable Care Act (ACA) defines a small business as a group of no more than 50 full-time employees (FTE), though some states define it differently.

California, for instance, categorizes small businesses as employers of no more than 100 FTE. Small business owners aren’t legally required to provide health insurance to their workers, but there are rules for those who do.

A small business owner enrolls in a group health insurance plan offered by a private insurance company and then offers their employees the opportunity to enroll in that plan. The employer pays part of their employees’ monthly premiums, and the employees are typically responsible for their deductibles, copays, and services not covered by the plan.

Average Cost of Small Business Health Insurance In Washington 

Business owners can expect to pay at least $112 per employee for small business health insurance in Washington. This price varies based on several factors including employees’ age and gender

Best Small Business Health Insurance In Washington

If you’re looking for a list of the best small business health insurance in Washington, look no further. Click on a facility to learn more about what it does and how to get there.

  •  Blue Cross Blue Shield

Blue Cross Blue Shield is a nationwide association of 34 independent insurance companies. The association has been around since 1929, and most of its companies have received high ratings.

BCBS provides coverage in all 50 states, plus Washington, D.C., and Puerto Rico, and works with more than 90% of the nation’s hospitals and doctors.

The company also underwrites international coverage in more than 190 countries through BCBS Global. The company’s large network seeds the data for innovative healthcare solutions like the ability to compare costs for more than 1,600 procedures.

BCBS is a popular solution for businesses with fewer than 50 employees, covering nearly seven million people who work for small employers. BCBS has various network options, with BlueCard PPO taking the lead for its expansive network, including 96% of U.S. hospitals and 95% of U.S. physicians. It is one of the best small business health insurance in Washington.

  •  UnitedHealthcare

UnitedHealthcare (UHC) has been in business since 1977 and has an A+ rating from AM Best.

UHC has a troubled reputation for its mental health coverage. In February 2019, a federal judge ruled the company discriminated against patients for mental health and substance abuse treatment. Since then, the company has taken steps to expand mental healthcare by acquiring AbleTo, a virtual behavioral healthcare startup.

UnitedHealth Group spends nearly $3.5 billion every year on technology and innovation, and its small business programs have several uncommon tools. Members can use Virtual Visits to meet with a doctor and get a prescription. Another robust feature is the Symptom Checker, which uses artificial intelligence to give basic medical advice.

This Group is situated in all 50 states and has international operations, operating in more than 130 other countries. The company works with more than 1.3 million healthcare professionals and 6,500 hospitals in the United States. It now offers one of the best small business health insurance in Washington.

If your small business has between two and 50 employees, you can compare plans online. You can answer a few questions and get a tailored recommendation, or you can call a local sales representative.

  •  Humana

Humana is one of the nation’s largest insurance companies for individual plans and Medicare options and offers group medical coverage for small businesses with between 2 and 50 employees in 18 states.

It works with millions of medical and specialty partners throughout most of the country. Humana’s network is 350,000 medical providers and 3,000 hospitals.

Humana has five plans for small and large businesses:

  • Canopy: Good for people with minimal health needs. The premiums are low-cost, and it’s only a $20 copay to see a primary care physician. Preventive care is free.
  • Efficiency: Lowest premium option. Preventive care is free with in-network providers.
  • Simplicity: No deductible for visits within the network, and copays are straightforward. Preventive care is free.
  • HDHP: High deductible with no copays. Most plans are HSA-eligible.
  • Copay: Copays for preventive care, telemedicine, and pharmacy.

Depending on where you live, the cost of these plans may vary. Humana also has a “level-funded premium” cost-saving option for small businesses with up to 100 employees.

  • Aetna

Aetna is an insurance company with a long history in the business. The company has been around since 1853.

Furthermore, Aetna isn’t available in every state, but the company has a large global footprint, with more than 700,000 primary care doctors and more than 5,700 hospitals. Depending on your state, the company may have one, two, or all three of the following plans as well as others:

  • Open Choice Plan: Visit any healthcare provider, with no referral needed. The best deals are for in-network visits.
  • Traditional Choice Health Insurance Plan: Visit any licensed provider or facility; you pay upfront and submit your claim for reimbursement. You will need to know the ins and outs of your Plan Design and Benefits Summary.
  • Aetna HealthFund One-to-One: Pick a high-deductible health plan and pair it with a health reimbursement arrangement (HRA) or health savings account (HSA).

Four health expense fund options for small businesses are unique to Aetna. These give employees tax-advantaged savings opportunities:

  • HealthFund Health Reimbursement Arrangement
  • HealthFund Health Savings Account
  • HealthFund Flexible Spending Account
  • Retirement Reimbursement Arrangement

Health expense funds give policyholders the chance to save money before taxes for future medical expenses. You may lower your taxable income by making contributions, which puts more money in your and your employees’ pockets. Aetna no doubt offers one of the best small business health insurance in Washington.

  •  Kaiser Permanente

Kaiser Permanente is a leading healthcare provider and nonprofit health plan. The company was founded in 1945. Kaiser ranks highest for four of the 21 award-eligible regions on the J.D. Power 2021 U.S Commercial Member Health Plan Study.

Also, Kaiser ranked highest in customer service for health insurance companies on Newsweek’s Best Customer Service Companies in 2021.

Kaiser Permanente’s coverage isn’t perfect, though. As California’s largest insurer, the company has faced some state sanctions and fines for delaying mental healthcare to members. The Los Angeles Times reported in December of 2019 that many people were still struggling to get timely care.9

It offers coverage in California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington, and Washington, D.C. The company has 12.5 million members and a network of 23,656 doctors and 65,005 nurses.

Kaiser has a reputation for high-quality healthcare with a strong emphasis on preventive care. The company’s electronic records system sends reminders for screenings and offers real-time coordination between providers. As a result, Kaiser has cancer screening rates above the national average. The company also leads the nation in keeping high blood pressure down.

It is one of the best small business health insurance in Washington with plans that focus on companies with two to 100 employees. There is a total of six plan options, with varying costs by state:

  • Traditional HMO plans
  • Deductible HMO plans
  • HRA and HSA-Qualified Plans
  • Deductible HMO with HRA plans
  • Point of Service (POS) plans
  • PPO plan

These plans offer four categories of coverage; bronze, silver, gold, and platinum which have a variety of deductibles, copayments, and coinsurance options. You can compare plans through Kaiser’s website or call a local sales representative.

Why Offer Small Business Health Insurance In Washington?

There are numerous reasons to offer mall business health insurance in Washington, they include:

  • Lower premiums– Group plans tend to be cheaper on average than individual plans.
  • Tax incentives – Businesses can deduct the cost of premiums from their federal business taxes, and some small businesses may qualify for a tax credit.
  • Improve hiring and recruiting – A robust benefits package can appeal to both new hires and current employees alike while setting businesses apart from competitors.
  • Employee loyalty and retention – Offering group health insurance can help small businesses keep their top employees for the long term.
  • Employee job satisfaction – Having happy employees who are content with their jobs and health benefits can make for happier employers.
  • Healthier, more productive employees – When workers take fewer sick days and absences, they can retain focus and achieve more while having access to health care resources when needed.
  • Foster a healthy company culture – Show your employees that their health is important to you by promoting a positive culture, encouraging wellness initiatives, and offering health coverage.
  • Pre-tax benefit for employees – Another benefit of providing small business health insurance can be more after-tax money available for workers.
  • Place health coverage within reach of employees – One reason employers offer group health insurance is to make medical coverage more accessible and affordable to their employees.

FAQs on Small Business Health Insurance In Washington

See below for the answers to the most asked questions about Small Business Health Insurance In Washington;

  • When does a small business have to offer health insurance?

Small business owners are not required by law to provide their employees with health insurance. With that said, make sure you understand how your state defines a small business, as it will impact what you are required to provide, should you decide to offer health insurance to your employees?

  • How much does small business health insurance in Washington costs?

Business owners should expect to pay at least $112 per employee for small business health insurance in Washington. This price varies based on several factors including the employee’s age and gender

  • How many employees does a small business need to provide health insurance in Washington?

The ACA established that businesses with at least 50 employees must provide some level of health insurance. If they don’t, they have to pay penalties.

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