Standard Set-Up Time for Small Business Health Insurance

Health Coverage Set Up Timeline for Small Businesses

To take care of your current employees and draw potential workers, you want to offer health insurance. As an experienced employee benefits Broker in Santa Rosa, Sackett & Associates Insurance Services specializes in helping small business owners protect their workforce. To aid you with establishing a timeline for your company and keep your employees in the know, we want to break down the standard checklist and wait time for setting up a health insurance plan.

Explore Your Options 

Your initial step is reviewing health insurance plans that fit your company budget and employee needs. Consider asking your team what they require and desire most from a health insurance plan so you narrow your options and give your workers what they want. Besides consulting your employees, contact small business health insurance professionals to better understand what individual plans offer and personalize your health insurance.

What should you consider while researching insurance options? If your employees already have a regular physician, ask if they prefer health coverage that includes their doctor in the plan's network. Depending on the plan, they may save money and enjoy more benefits if they choose a different network. Consider whether you want to offer all your employees coverage or limit it to full-time workers. On your end, decide if you want to help pay for your workers' coverage. 

Apply for Coverage

Once you have a plan you think your employees will like, your next aim is to send out an enrollment kit for your team to look over. Kits include plan rates and benefits and an application. Establish a deadline for your workers to return their completed kits, making sure you send out reminders and let your employees know whom to contact if they have questions.

While your team reviews and completes their kits, you can speak with your health insurance contact to learn what tax forms you must submit to prove your business's eligibility. This may also be the time when you make your first insurance payment, so consider setting a reminder for yourself so you do not forget.

Await Group Approval 

After your employees return their completed forms and you submit all necessary documents, expect to wait roughly a week after turning everything in before receiving group approval. You may wait a few days less or more, depending on how everything falls out. 

While you wait for approval, have your workers double-check that the physical home addresses they have on file are correct and current, so they receive their cards. Once you receive approval, your insurance provider mails you and your employees welcome documents and employee identification cards. Let your team know they should expect to receive future invoices for their insurance payments two to three weeks before the next month's premium comes due.

Get in Touch With Us

If you have additional questions about the small business health insurance set-up timeline, or if you need help with choosing a viable insurance plan, our knowledgeable representatives are standing by to help. For more information, submit a contact form or call us at 707-823-3689.