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Alabama Small Business Group Plans

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 business expense. 

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 contributions.

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 their members.

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 insurance page.

Call 877-567-5267 to speak with our trained health insurance specialists and receive a quote.