According to the Alabama small business profile, 97.3% of
total firms were small firms as of 2004.
Women also represent roughly 31.9 percent of the self-employed in
Alabama. Health Plan One can help you
business find plans under Aetna Health Insurance. Enter your zip code above and select “Small
Business Group” to find a quote in your area.
Finding the appropriate health insurance plan for your small
business can be confusing and may seem like a costly endeavor in today’s
economy. However, offering health
insurance can allow the employer to recruit higher-trained employees because of
the incentive. In addition, offering
health insurance to employees can reduce employee turnover and the cost of
absenteeism, say if an employee was ill due to non-preventive care because s/he
did not have health insurance.
In the state of Alabama, the premiums that the employer pays
for a health insurance plan is fully tax deductible and can be a write off as a
Health Savings Accounts and Health Reimbursement
Arrangements can add savings for employers and employees.
Health Savings Accounts cost less than traditional health
plans such as Health Maintenance Organizations (HMOs) and Preferred Provider
Organizations (PPOs). With the Health
Savings Account (HSA), the employee can use the money in the account to pay for
medical expenses or save for future needs such as out of pocket costs and long
term care as well as medical expenses after retirement if the person is under
the age of 65. Earnings and withdrawals
are tax free, and contributions are tax deductible. If the employer adds to his or her savings
account, the same must be applied to the employee, though employers are not
required to contribute to an employee’s HSA on a regular basis.
Health Reimbursement Accounts (HRAs) are arrangements that
are usually paired with High Deductible Health Plans. Employers can determine the amount in HRAs,
the amounts that can be rolled over from each year, and what happens to the
money that is unused if the employees leaves the company. The employer can also decide if s/he can cap
Aetna provides employers of Alabama small businesses with a
Personal Health Record (PHR) which includes a record of all claims and health
history of their employees. Aetna also
provides a range of medical/pharmacy and dental plans for small businesses
where they can recommend certain programs, such as disease management, for
Aetna also offers HMO plans an PPO plans, which are the
traditional health insurance plans.
HMOs are cost-effective for employers however they require
employees to use providers within their network. For PPO plans, employees have the freedom to
choose the provider they want and if it happens to be out-of-network, in the
case that the employee has a family doctor before the employer chose a specific
health plan. However, deductibles are
usually higher when choosing an out of network provider even with the PPO plan.
For more information about Aetna, visit our Aetna health
Call 877-567-5267 to speak with our trained health insurance
specialists and receive a quote.