Are you a small business owner (employing less than 50 FTE)? Do you offer health insurance to your employees? Have you heard of SHOP — the Small Business Health Options Program — and is it right for your business? Group Health Insurance Although small business owners are not required by law to provide health insurance, doing so is a great way to attract and retain the best and brightest talent
Understanding Health Insurance
How Well do You Understand Health Insurance? A recent study evaluated how well Americans think they understand health insurance vs. how well they actually understand health insurance. It turns out that although about three-quarters of people surveyed believe they know how to use their health insurance, only about 20 percent could correctly calculate the amount they would owe for a doctor’s visit. In addition, many did not understand key terms
How Long is My Health Insurance Coverage Effective?
In general, health insurance policies are effective for 12 months, and the period during which coverage is provided is called the plan’s benefit year. For individual health insurance policies — whether purchased on or off the exchange — the benefit year runs on a calendar basis, from January 1 – December 31. However, not all policies will be effective for the full 12 months. This is because the start date
