Because a quality medical and dental package can make a small business a beacon for employee prospects, most business owners do everything they can to offer the best insurance possible. But with the costs as high as they are, few businesses can offer the plans they think are ideal. If you’re one of the lucky business owners whose business is so profitable that the more expensive, comprehensive policies are an option, a Preferred Provider Organization may be the perfect plan – and one that will attract better workers!
This small business health insurance coverage for individual freedom has premiums in the higher end of the spectrum, but still not as high as most indemnity insurance plans. Preferred Provider Organizations, or PPOs, allow employees and other policy holders to seek care from any physician or hospital while remaining under coverage. This freedom is what most employees want, and what deters many of them from HMO plans. The price of this flexibility is that deductibles apply to coverage and paperwork must be handled by the policy holder, in addition to the higher premiums.
However, if employees want to save more under a PPO plan, they can still get low co-pay care from physicians listed on the PPO network. In these instances, paperwork will often be taken care of within the network, and deductibles typically do not apply. The price of premiums, however, is not affected no matter where care is sought.
Before deciding on a PPO plan, business owners should ask about maximum out-of-pocket costs, deductible levels, paperwork and claim dispute procedures, coverage restrictions and any other key factors that would affect the policy quality. The point of having small business health insurance coverage for individual physician choice is to create the most attractive policy for your employees – so the details matter greatly.
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