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How Industry-Specific
Risks Impact Your Small
Business Insurance

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Health insurance for small businesses is rarely a one-size-fits all solution. Just as no two companies are the same, each small business’ insurance coverage should reflect the everyday experiences, conditions and, most importantly, risks unique to their workforce.
For small businesses, the importance of tailoring health insurance to specific industry and associated risks can’t be understated. Offering mismatched or inadequate coverage to your employees can lead to less-than-ideal conditions, especially in the event of an emergency. To help you determine the right health insurance for your small business, we’ve put together a quick guide to help you better understand industry-specific risks.

Understanding Industry-Specific Risks

“Industry-specific risks” include any challenges that may result in negative physical, mental or emotional conditions for employees. While some risks may seem obvious, there are other conditions that may require preventive care, mental health resources or other services offered through small business insurance.
These risks should be a determining factor as you decide which coverage options would be the best fit for employees. Despite a wealth of coverage options and plan tiers, understanding how these risks impact your required services is vital when choosing the right health insurance for your small business.

What Are Some Examples of Industry-Specific Risks?

Let’s examine a handful of industry-specific risks to better consider the sort of industry-specific risks that can impact small business employees’ well-being. Please note that this is not a comprehensive list, but merely a sampling of possible risks.

Tailoring Small Business Health Insurance to Your Industry

While these industry-specific risks by no means guarantee outright unsafe working conditions, small business employers will no doubt want to ensure that their employees are covered in the event of an accident or as a response to long-term health impacts.
Using our examples of industry-specific risks above, let’s find out how specific health insurance coverage options and services can be tailored to a wide variety of small business industries and working conditions:

In addition to these examples, small business employers should consider including dental, vision, life and disability insurance as part of comprehensive insurance coverage. While not specific to any one industry or set of workplace conditions, these coverage options give your employees the resources to address every facet of their health and well-being inside and out of the workplace.

Conclusion

Knowing how to respond to your small business’ industry-specific risks is vital when shopping for health insurance. Every workplace comes with its own set of risks, but by selecting the right coverage for your employees you can bolster their health, happiness and productivity while ensuring their physical and financial well-being.

To start looking for the ideal insurance for your small business, reach out to a BCBSIL representative by calling 1-833-923-1784 or fill out the form here to receive a personalized quote Leaving Site.

Material discussed is meant for informational purposes only, and it is not to be construed as medical, financial, tax or legal advice. BCBSIL does not offer medical, financial, tax or legal advice. You are strongly encouraged to seek individualized advice from qualified medical, financial, tax and/or legal experts regarding the best options for your particular circumstances.

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