Small Business Group Health Insurance
Small Group Health Insurance is available to businesses between 2-50 employees.
To qualify for guaranteed issue group health insurance plans all you need to do
is complete the proper paperwork for your business entity. Wether you operate as
a sole proprietor, partnership, LLC (Limited Liability Company), or a corporation,
you can qualify for guaranteed issue group health coverage wothout medical underwriting!
Contact one of our licensed small group specialist for a free "business check-up".
We can let you know what you may need to file, complete, or change in order to qualify
for guaranteed issue group health insurance. Our consultation is provided at no
cost to businesses interested in establishing small group health insurance.
Business Check-Up
Many of the basic requirements are the same for every business entity. Your business
will need to have been established for at least 45 days, or formed in the previous
calendar quarter. You will need an EIN (Employer Identification Number) from the
IRS, and your proper
state business entity paperwork on file with the Secretary of State's office if applicable.
As a benefit to small groups trying to set up new health coverage in California,
we offers our free assistance in the steps necessary to either form your business
entity, or a simple "business check-up" to make sure all the required documentation
is in order. Here are a few of the most common and accepted business entities seeking
guaranteed small group health insurance.
Sole Proprietorship
As a sole proprietorship, we need a second individual to qualify for guaranteed
issue group health insurance. Generally this will be an employee showing on w-2
payroll. In California the form required for proof of employment is DE-6 from the
Employment Development Department.
Partnership
Partnerships have several advantages over other business entities for the purposes
of establishing group health insurance for their members. If you do not have another
business entity already formed, a partnership is the least expensive to form for
insurance purposes. Generally you will just need a city business license from your
local municipality.
Limited Liability Company - LLC
LLC's can be formed easily through the
California Secretary of State's office. An LLC is usually more expensive
to establish than a partnership or
sole proprietorship. Also an LLC must pay an annual $800 dollar tax to the
state of California to remain viable entities every year. This is a large expense
to many of our small business clients.
Corporations - Inc
Corporations fall into two catagories, S-Corp's and C-Corps. Most small business
prefer to avoid the double taxation of a C-Corp and take advantage of an S-Corp's
tax liability pass through. There is a $800 annual fee to maintain a California
Corporation payable to the
Secretary of States office. Depending on the business form, we will need
K-1's or 1120 tax forms from the previous tax year to establish business ownership.
Also, any employees applying for coverage will need to appear on the last two payroll
cycles.
Workers Compensation
Businesses without employees are exepmt from having workers compensation in place.
However, businesses with employees on the group health coverage are required to
show workers compensation coverage in place as well. Depending on your industry,
there are several different good workers compensation carriers available, and rates
generally start at a minimum annual premium of $500. Call or e-mail us for a Workers Compensation
quote today!
General Liability
If your business rents a commercial location, or has assets you wish to protect,
then Business General Libility insurance is a great place to start. Protect your
business from slip injury accidents of customers, or from lost income due to catastrophic
acts of nature. There is pleanty of reason to carry general liability insurance
on your new business. Call or e-mail us for a quote today!