As a small business owner looking for the best small business health insurance options available, you probably want to learn how to get the best value on group coverage. eHealth is here to help: our online private health exchange for small businesses has the widest selection of plans available from the best small business health insurance providers.

Finding the right small business health insurance provider

Choosing the right health insurance provider for your small business is a crucial decision that impacts not just your finances but also the well-being of your team. With various providers offering different plans, benefits, and costs, comparing top health insurance providers is essential to finding a solution that fits your specific business needs.

Why Compare Providers?

Comparing health insurance providers allows you to assess the range of plans available, evaluate the costs versus benefits, and understand the level of support each provider offers. Each provider has its strengths and weaknesses, and what works for one business might not suit another. By thoroughly examining the options, you can make an informed decision that balances cost, coverage, and care quality.

It’s important to consider several factors when choosing a provider:

• Coverage Options: Look for plans that offer the health benefits your employees need. Consider whether the provider offers extras that are important to your team, such as dental or vision coverage.
• Cost: Evaluate not only the premiums but also deductibles, copays, and coinsurance. Lower premiums might mean higher out-of-pocket costs later, so consider what makes the most financial sense for your employees and your business.
• Network Size: A provider with a broad network of doctors and hospitals ensures more choices for your employees and better overall satisfaction.
• Customer Service: Responsive and helpful customer service is crucial, especially when dealing with health benefits.

By comparing these aspects among the top health insurance providers, you can choose one that not only meets your budget but also provides valuable support to your employees. This thoughtful approach ensures that your small business offers a competitive, comprehensive health benefits package that can attract and retain the best talent, fostering a healthy and productive workplace.

Top small business health insurance providers of 2024

Choosing the right health insurance provider is crucial for your small business. Based on the “Market Share and Enrollment of Largest Three Insurers – Small Group Market” report by the Kaiser Family Foundation, we’ve identified the most common insurers in the U.S. for small businesses. eHealth offers group plans from many of these leading providers and others, giving you a wide range of options to consider.

When reviewing this list, keep the following criteria in mind to guide your decision:

• Plan Diversity: Seek providers that offer a diverse range of plans, tailored to meet the specific health needs and financial limits of your business.
• Cost Efficiency: Look for cost-effective plans that balance affordable premiums with robust benefits.
• Provider Network: A larger network ensures better access and more choices, enhancing employee satisfaction.
• Customer Support: Effective and supportive customer service is crucial for managing benefits and addressing claims smoothly.
• Reputation and Stability: Check each provider’s industry reputation and financial health to ensure reliability and service quality.

This curated list is an excellent starting point to explore what each provider has to offer. By considering these key factors, you can choose a provider that not only meets your business needs but also supports your employees’ health and wellbeing effectively.

UnitedHealthcare

UnitedHealthcare (UHC) is the largest health insurance provider in the nation, offering plans for group coverage in all 50 U.S. states. Here are just some of the reasons why UnitedHealthcare could be considered among the best health insurance companies for small businesses:

• National medical network – UHC has an extensive network of doctors and hospitals, making their health care services more accessible for members of small business plans.
• Technology resources – Many UHC group plans include Virtual Visits, which facilitate online health care and doctor consultations through computers, mobile devices, or tablets.
• Member wellness programs – UHC offers a wide variety of programs to keep its programs healthy. Partnerships with wellness and fitness companies such as Peloton encourage employees to set personal goals and get rewarded for reaching them. Members can also access to benefits like counseling and coaching for smoking cessation and weight loss.
• Employer resources – UHC makes it easy for business owners to navigate benefits with employer tools like Employer eServices and other administrative tools.

Overall, UnitedHealthcare offers effective group coverage options for many small businesses.

Blue Cross Blue Shield

Also among the best health insurance for small businesses is Blue Cross Blue Shield (BCBS), which operates through the 36 local and independent companies of the BCBS Association that cover all 50 U.S. states. Here are just a few reasons why BCBC ranks as another top small business benefit provider:

• Trusted by small business – Millions of small business employees receive their group coverage through Blue Cross Blue Shield companies.
• Popular plan options – BCBS covers one in three Americans and has one of the country’s most popular PPO networks, the BlueCard® PPO.
• Flexible care options – BCBS plans helps you get the kind of care you need, whether that’s in-person, virtual, or emergency care. Blue Cross Blue Shield’s member website makes it easy to find primary care doctors, specialists, and more in your area. Some plan options offer round-the-clock nurse call centers or telehealth care with licensed doctors from the comfort of your home.
• Mental health resources – BCBS members may have access to wellness and mental health programs to support them in their health and fitness goals. Some programs, like SilverSneakers, specifically target older members.

Blue Cross Blue Shield partners with most U.S. hospitals and doctors, making their group health insurance plans widely available to employers.

Highmark Health

Highmark aims to create remarkable health experiences to help free people to be their best. Although they are regionally focused in, Highmark has customers in all 50 states and the District of Columbia. In 2024, Highmark Health continues to enhance the healthcare experience with its integrated approach and advanced tools:

• Integrated Healthcare: Highmark Health stands out with its integrated healthcare model, linking health plans and patient data seamlessly. This approach enables more effective management of patient care by ensuring that all parts of a patient’s healthcare team are connected and informed.
• Smart Tools: Highmark Health offers innovative online tools that simplify the process of healthcare management. These tools help employees find doctors, schedule video visits, and utilize a 24/7 NurseLine for immediate healthcare advice, ensuring that help is always just a click or call away.
• Health App: Highmark’s dedication to convenience and accessibility is further demonstrated through its all-in-one health app. This app allows members to effortlessly schedule appointments, access important benefits information, and participate in telehealth visits, all from one integrated platform.
• Health Resources: Highmark Health provides a wealth of resources on its website to support its members in maintaining healthy, active lifestyles. These resources cover a wide range of topics from mental health to navigating health insurance. Additionally, Highmark offers an interactive Health Care Calendar tool. This tool provides personalized recommendations for preventive screenings and immunizations based on the user’s age and gender, adhering to the latest health guidelines.

With Highmark, you and your employees benefit from the advantages of a major medical network, as well as resources that help with managing your group medical plans.

Humana

Humana is one of the largest health insurance providers in America and may be considered among the best health insurance companies for small businesses due to the many group coverage plans they offer. As a small business benefit provider, Humana’s plans generally include these benefits:

• Preventative care advantages – In-network preventative care appointments are 100 percent-covered by all Humana group medical plans. This may include services such as diabetic retinal eye exams, bone density tests to check for osteoporosis, mammograms, and more.
• Humana Neighborhood Centers – one unique feature about Humana plans is that members may have access to its “Neighborhood Centers.” These are sites that offer various programs, events, exercise classes, and other services to help members stay healthy and active. The centers are meant to foster community, and most services are available for free. Many locations also have on-site customer care to help members with their Humana benefit questions.
• Convenient plan features – Other features in all Humana group health insurance plans include wellness rewards, virtual doctor visits, and access to Humana Pharmacy services.

Humana offers a variety of affordable small business health insurance plans for small employers and their employees. If you’re looking for the best health insurance for small business, it’s another contender.

Kaiser Permanente

Offering health insurance in eight U.S. states and the District of Columbia, Kaiser Permanente is a major health insurance company that provides quality group health plans to its members.

• Affordability – Since Kaiser Permanente is the largest managed care organization in the nation, it can offer a significant number of affordable small business health insurance plans and options.
• Flexibility – Many Kaiser Permanente HMO group health plans, HSAs, and HRAs feature lower premiums and tax savings, and their PPO plans include added flexibility when choosing doctors.
• Online tools – Kaiser offers many online tools to help you care you need. You can search your care options by symptom and receive recommendations for treatment.  Kaiser’s My Doctor Online app lets you message your doctors and nurses 24/7, access virtual services, or get appointment reminders from the convenience of your phone.
• Health and wellness resources – Kaiser has one of the largest databases of health information. Learn more about mental health, caregiving, life care planning, and more in one location. You can also find programs if you need assistance with health-care costs, food, housing, and more.

For employers looking for one of the best small business health insurance companies for managed care services, Kaiser Permanente group coverage plans are among the top options.

Comparing small business health insurance providers 

Choosing the right health insurance provider is a pivotal decision for any small business owner. By examining these critical aspects, you can better understand how each provider matches up against your business needs, ensuring you select a plan that offers the best value and coverage.

Provider	Coverage Highlights	Customer Satisfaction
UnitedHealthcare	Extensive provider network, variety of plan options	4.0 average rating
Blue Cross Blue Shield	Wide range of plan choices, strong national network	3.5 average rating
Highmark Health	Strong focus on integrated health services	3.5 average rating
Humana	Competitive wellness programs, flexible plan designs	3.5 average rating
Kaiser Permanente	Best for preventative care and comprehensive services	4.5 average rating

This chart serves as a guide to highlight the differences and strengths of each insurance provider, focusing on the factors that matter most to small businesses. Whether your priority is cost, extensive coverage, or customer satisfaction, this comparison will help streamline your decision-making process.

Choosing the right small business health insurance provider

Selecting the ideal health insurance provider for your small business is not just about finding the best price—it’s about understanding and meeting the specific needs of your business and your employees. Every small business is unique, with diverse requirements based on industry, company size, and the overall health demographics of the workforce. It’s crucial to consider factors such as the types of health benefits offered, the flexibility of plan options, network size, and the ease of managing benefits. For instance, a tech startup might prioritize mental health coverage and telemedicine options, while a manufacturing company might focus on comprehensive emergency care and physical therapy. Thus, diving deep into what each health insurance provider offers and matching it with your business’s particular needs can lead to improved employee satisfaction and retention, and ultimately, a healthier, more productive workplace. This tailored approach ensures that your investment in health insurance truly supports your business’s goals and your team’s well-being.

Factors to consider when choosing a provider

As a small business owner, selecting the right health insurance provider is a critical decision that impacts both your bottom line and your employees’ well-being. Here are key factors to consider that will guide you in making an informed choice:

1. Affordability: Cost is often the foremost consideration. Evaluate not just the premiums, but also the overall cost-effectiveness of the plans. Consider deductibles, copays, and whether the plan’s structure aligns with your financial capabilities and your employees’ ability to manage potential out-of-pocket expenses.
2. Coverage Needs: Align the health insurance coverage with the specific needs of your workforce. This includes evaluating what types of medical services are covered, whether the plans include preventive care, specialty care, and whether there are added benefits like dental, vision, and mental health services. A plan that closely matches the health care needs of your employees will be more valuable to them and can lead to higher satisfaction and retention.
3. Network Size and Quality: The size of the provider network can significantly affect where and how your employees can receive medical services. Larger networks provide more options for care and are especially important if your employees are spread across different geographical areas. However, larger networks can also come at a higher cost, so balance this with your budget and the importance of having a broad selection of healthcare providers.
4. Customer Service: The level of customer support offered by the insurance provider is crucial. Efficient customer service can enhance the experience for both you, the employer, and your employees, particularly when dealing with health issues or claims. Look for providers known for their responsive support and resources to help you manage the plan effectively.
5. Flexibility and Scalability: Consider how flexible the health insurance plans are. Can they be tailored to different employee needs? Additionally, think about your business growth projections and whether the insurance provider can scale with your business, offering suitable options as your company grows.
6. Reputation and Reliability: Research the provider’s reputation in the market. Read reviews, ask for referrals, and check their ratings with health insurance review agencies. A provider with a strong reputation is likely to offer reliable service and stability for your healthcare coverage needs.

By carefully considering these factors, you can choose a health insurance provider that not only fits your budget but also supports your employees’ health effectively, fostering a healthy, motivated workforce.

Health insurance plans to consider for small businesses

Selecting the right health insurance is vital for small business owners, affecting both employee satisfaction and the financial health of the company. Here’s a quick guide to understanding the main options available.

Traditional Group Health Insurance Plans

These plans are a common choice and cover all employees under one policy, often extending to their families. They provide comprehensive coverage but are generally more expensive due to higher premiums, although they offer lower deductibles and copays.

Individual Coverage Health Reimbursement Arrangement (ICHRA)

For small business owners seeking a more affordable health insurance option, Individual Coverage Health Reimbursement Arrangements (ICHRAs) may be an ideal choice. These plans involve employers allocating a fixed pre-tax amount that employees can use to purchase their own health insurance on the open market. After selecting and paying for a health plan, employees are reimbursed by their employer using these pre-tax funds. ICHRAs are often more competitively priced than traditional employer group plans, providing a cost-effective alternative that reduces administrative burdens for employers. Additionally, they offer employees the flexibility to choose the health plan that best fits their individual needs, along with the freedom to decide how to use their reimbursement money, making this an attractive option for both parties.

Advantages of ICHRA:

• Cost Control: Fixed budgets eliminate the unpredictability of traditional group plan costs.
• Employee Flexibility: Employees can select plans that meet their personal or family health needs, enhancing satisfaction.
• Ease of Management: ICHRAs are simpler to administer as employees manage their own insurance plans.

While ICHRA can be beneficial, it requires careful planning to meet legal requirements and effective communication to help employees understand how to purchase and get reimbursed for their insurance.

Choosing between a traditional group health plan and ICHRA involves balancing costs, employee needs, and administrative efforts. By assessing your workforce’s needs and your business objectives, you can select a health insurance option that supports your employees’ well-being and contributes to a productive workplace.

Where to find affordable small business health insurance

eHealth can help you find the right group coverage for your small business. We offer free health quotes, with no obligation and no broker fees. The eHealth website lets you compare plans for group coverage from multiple providers all in one place, empowering you to find the best small business health insurance for your company and employees.

To find affordable small business health insurance plans in your area, enter your ZIP code and number of employees on the eHealth small business health insurance page to get instant access to free quotes. You can also speak with one of our licensed insurance agents, who can assist you with finding the optimal health plan for your business. Our trusted licensed insurance agents have years of experience under their belt and are ready to help you with any questions you may have.