Here are six common mistakes to avoid when choosing your company’s health-care coverage:
1. Don’t go it alone. Whether it’s insurance brokers or your state insurance department, reach out to experts for help. When Merrick began looking into his options, he didn’t realize he could use a broker until he stumbled on an ad for eHealthInsurance.com, an online health-insurance brokerage. The broker presented 20 options and helped narrow his selection based on the demographics and needs of his employees. “It’s a lot less daunting with someone in your corner,” Merrick says.
Your state insurance department is also a good resource, providing details about such possible small-business benefits as health-insurance tax credits and joint purchasing arrangements with other companies that can reduce costs.