Is Your Business Small or Large? And What Type of Insurance Do You Need?

Owning a business comes with a lot of responsibility and accountability, including making sure you are providing the right amount of health insurance to your employees. Knowing if your business is considered a small or large business can make a huge difference in the amount of insurance you are required to provide.

If your business has 50 or fewer full-time, or equivalent employees, you are considered to be part of a small group. This means that the health care you have to provide to your employees must meet the same standards for those policies that are offered to individuals and families.

Businesses that have 51 or more full-time, or equivalent employees are required to offer health care that meets all the requirements for large groups. They also have a wider selection of plans to choose from.

An employee is considered a full time, or full time equivalent employee if they work at least 30 hours a week, on average.

Contact Warrior Insurance in Monument, Colorado for all of your health and business insurance needs.

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