Employer based health insurance plans are typically the least expensive health care option. The Affordable Care Act (ACA) requires employers to provide health coverage to at least 95% of their employees if they have at least 50 full-time workers (those who work at least 30 hours per week).

Job health insurance plans usually have lower premiums because employers pay for a portion of the monthly premiums. The plans are part of a group policy, which reduces the insurance company’s risk. Employer based health insurance considers all the policyholders in the group rather than just one person in an individual plan.

Finding (and Getting) Employer Based Health Insurance
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Employers purchase group health insurance plans from insurance providers. The insurance company agrees to cover the workers provided a certain percentage of employees participate. 

Employees can choose to decline or accept coverage. Some group plans even have multiple options or add-ons, like coverage for spouses.

Many companies use health insurance as an employment benefit. Activision Blizzard, for instance, provides premium-free health insurance to workers that includes dental, vision, prescription drugs, and mental health care. The company also covers 80% of premiums for employees’ dependents. 

If getting cheap health insurance is a priority for you, you might consider working for a company that provides these options. The following companies are known to have some of the most affordable health insurance plans:

  • Zappos.com 
  • Twitter 
  • Kimley-Horn and Associates
  • NuStar Energy
  • FactSet Research Systems
  • Ultimate Software 
  • Boston Consulting Group

Many job websites, like Indeed and LinkedIn, have information about employer-based insurance plans. Insurance providers also usually have good benefits for employees. 

Prospective employees may also negotiate health benefits into their employee benefits package. For example, candidates can ask about plan costs and negotiate a higher salary for these expenses. 

Companies deduct premium contributions automatically from their employees’ paychecks. These contributions and the employer’s share are not subject to federal taxes, saving workers hundreds to thousands.

Some job health insurance plans extend to spouses and children, though employers may not cover these premiums. However, these costs are usually less than individual plans through the Marketplace.

While most employers only offer low cost health insurance plans to full-time employees, some companies have coverage for part-time workers. Some companies that offer plans to part-time workers include: 

  • Starbucks
  • UPS
  • JPMorgan
  • Activision Blizzard
  • American Red Cross
  • Costco
  • Trader Joe’s
  • Aetna
  • Staples
  • The Home Depot
  • Macy’s

About half the U.S. population has a plan from group health insurance. Employers are the leading providers of group plans, but individuals can purchase plans through organizations like the Freelancers Union, the American Association of Retired Persons (AARP), and wholesale membership clubs.

If an employee’s job health insurance premium is more than 10% of their income, they can apply for more affordable coverage on the Health Insurance Marketplace. Workers may find that ACA Marketplace plans are less expensive with the help of the advanced tax credits.

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By Admin