With higher premiums and insurance carriers leaving the ACA exchange, some people are frustrated with their health care costs. The volatile insurance market has greatly affected businesses that offer benefits and those that planned on offering employee benefits. Large corporations may be able to cope with the changing health care rates, but many small business owners and entrepreneurs are suffering from them.
For that reason, we wanted to share the different plans that small to mid-sized businesses can utilize to cut their health care costs. Hence, we analyzed the three common health plans that businesses use to offer employee benefits: the fully insured (fully-funded) health plan, the self-insured (self-funded) health plan, and the level funded health plan.