Health Insurance for Your Small Business

Here is a list of frequently asked questions regarding small group HSAs.  If you are new to HSAs, check out the FAQ page for individual HSAs. Most all the information will be relevant to small group HSAs as well.

How can an HSA save my company money?

The theory is that HSA compatable plans cost less than most traditional plans because they have high deductibles and low monthly premiums. If your employees select these plans, it will typically cost your firm less money.  However, if you choose to contribute an additional amount to each employee’s Health Savings Account, then, depending on the size of your contribution, it may not save your firm any money.

Do companies have to contribute to their employees HSA?

No, but we think you should. Your employees will consider this one of their favorite perqs and will help them cover the cost of the higher deductible.

Can some employees choose traditional plans and others choose the HSA compatible plan?

Yes! You should consider offering a range of plans to your employees. You can usually offer HSAs, PPO and HMO plans at no additional cost.

How can I sign up for a small group HSA?

You will first need to get quotes. Enter your company’s zip code in the box above and click the “Get Quote” button.  You will then be prompted to enter census information for your employees.  This is simpler than it sounds.  Census information is simply the birth date, gender, zip code and dependent information for each of your employees.  Once you enter that information, a kind and gentle licensed independent Medicoverage agent will provide you with quotes and the paperwork you need to sign up your company.