Choosing the Right Healthcare: A Practical Guide for Small Business Owners

As a small business owner, you’ve got a lot on your plate. Between managing your team, keeping customers happy, and balancing the budget, the last thing you need is a complicated healthcare decision. With a workforce of fewer than 50 employees, including both W2 and 1099 workers, choosing the right healthcare for everyone can feel like a big task. But don’t worry—let’s break down the options together. In this blog, we'll compare two options: the Health Insurance Marketplace and Meridio Everyday Health, to help you weigh the options for your business.

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The Marketplace: The Traditional Route

Since passing the Federal Affordable Care Act, the health benefits Marketplace has been a go-to option for many businesses, but it’s not without its challenges. If you’re a business in California, you may be more familiar since the State laws require you to offer minimum health coverage. Either way, here’s what you need to know:

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Group Minimums Required: One of the first hurdles with The Marketplace is that it requires a minimum number of employees to participate. If your team is small or includes many part-time or freelance workers, this could be a stumbling block.

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Mandatory Payroll Contribution: The ACA mandates that employers contribute to the cost of employee premiums. While this helps share the cost burden, it can also stretch your budget, especially if you’re already juggling tight finances.

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High Deductibles: The plans available through The Marketplace often come with deductibles ranging from $2,000 to $8,000. For your workforce, this means they could be facing high out-of-pocket costs before their insurance kicks in, which can be a real burden.

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Medical Questions and Exams: The Marketplace health plans often require your team to answer medical questions or undergo exams, which can lead to higher premiums for those with pre-existing conditions. It’s an extra step that can sometimes be discouraging.

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Limited Open Enrollment: The Marketplace has a specific enrollment period each year. If your employees miss this window, they might have to wait months before they can get coverage, which isn’t ideal if they need healthcare sooner rather than later.

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Job-Based Coverage: If one of your employees leaves your company, they’ll lose their healthcare coverage as well. This can add stress to an already difficult situation.

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Meridio Everyday Health: A Flexible Alternative

Meridio offers a different approach to healthcare, designed with the needs of small businesses like yours in mind. Here’s why Meridio might be a better fit:

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No Group Minimums: Unlike the ACA plans or Blue Cross Blue Shield plans of the world, Meridio doesn’t require a certain number of employees to participate. Whether you have a team of 5 or 45, you can offer them healthcare without worrying about meeting a quota. Meridio also offer whole team coverage for full-time, part-time, and seasonal workers.

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Voluntary Employer Contributions: With Meridio, you have the flexibility to decide if and how much you want to contribute to your employees’ premiums. This lets you manage your budget more effectively while still offering valuable benefits to retain and attract quality workers.

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$0 Deductible Plans: Something that sets Meridio apart is access to affordable health plans with $0 deductibles. This means your employees can access healthcare without having to worry about meeting a high deductible first—a huge relief for many.

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Guaranteed Acceptance: Meridio takes the stress out of enrolling by offering guaranteed acceptance for all your team members, without the need for medical exams or questionnaires. Everyone can get the coverage they need, regardless of their health situation.

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Year-Round Enrollment: With Meridio, there’s no rush to meet an enrollment deadline. Your employees can sign up for coverage at any time during the year, which makes life a little easier for everyone.

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Portable Coverage: Meridio’s plans follow you wherever you go. Meaning your employees can take their coverage with them, even if they leave your company. This continuity of care is something both you and your workforce can appreciate.

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Making the Right Choice

When it comes to healthcare, there’s no one-size-fits-all solution. But if you’re looking for flexibility, affordability, and a plan that meets the needs of a diverse workforce, Meridio Everyday Health might be the right choice for your small business. They offer the control and options that The Marketplace might not, helping you take care of your team without stretching your resources too thin.

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Take some time to explore what Meridio has to offer, and see if it’s the right fit for your team.