Looking for coverage for your small business in and around Springfield, Illinois? You’ve come to the right place. Blue Cross and Blue Shield of Illinois offers coverage throughout the state of Illinois, including the Springfield area.
We’re a company founded on a tradition of providing affordable, quality health care for everyone, improving the present and investing in the future. BCBSIL delivers Springfield small business employers a variety of health care plan options. All plans include access to a large network of providers and comprehensive benefits to fit your employees’ needs and your organization’s budget.
If you have between two and 50 full-time employees, you likely qualify to purchase a small business health care plan. To purchase insurance as a small business, your company typically needs:
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At least two full-time employees, including the owner. For the purposes of group health care coverage, a full-time employee is someone who is employed a minimum of 30 hours per week. Some states may have additional guidelines as to who qualifies as an eligible employee. |
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A certain percentage of your employees must enroll in the coverage you offer. In Illinois, a minimum of 70% of employees must enroll in a health plan for an employer to offer coverage. If you purchase insurance between November 1 and December 15 for a January 1 or January 15 effective date, this participation requirement is waived. |
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Employers must meet minimum contribution requirements. Employers offering group coverage are required to pay at least 25% of their employees’ premiums. You may pay a higher percentage if you choose; making insurance more affordable for your employees can increase participation. If you purchase group coverage between November 1 and December 15 for a January 1 or January 15 effective date, the minimum contribution requirement is waived. |
BCBSIL has the flexibility and choice growing companies need. BCBSIL provides the Springfield area small business employers with a variety of health care plan options that include access to a large network of providers and comprehensive benefits to fit your employees’ needs and your organization’s budget.
Deductibles, coinsurance, premiums, and copays are all mechanisms that allow health insurance companies and individuals to share costs. A deductible is the fixed amount an employee is required to pay before reimbursement by the health plan (coinsurance) begins. Coinsurance is the percentage of the cost of a covered health care service the employee is responsible for paying after they’ve met their deductible. Premiums are the monthly amount that must be paid for a health insurance plan. A copay is the fixed dollar amount a member is required to pay for covered services or prescriptions at the time service is rendered.
You can apply for health coverage at any time throughout the year. If you purchase group coverage between November 1 and December 15 for a January 1 or January 15 effective date, the minimum amount you are required to contribute toward your employees’ premium and the minimum number of employees required to participate are waived.
The cost of health insurance for your small business will depend on the type of plan you choose as well as your contribution strategy. Most states require a minimum contribution for group coverage.
PPO (Participating Provider Option) plans are available in Springfield, IL. These plans do not require members to select a primary care physician, and in most cases, members can go to any provider within the network without a referral. This increase in flexibility may result in a higher overall cost for the member.
HMO (Health Maintenance Organization) plans are available in the Springfield area. These plans typically require members to select a primary care physician (PCP) to coordinate care within the network. In order to see a specialist, members may need a referral from their PCP. Having care coordinated by a PCP may result in lower overall costs for the member.
Employers offering group health care coverage are typically required to pay a percentage of their employees’ premium, which is called the employer contribution. You can choose to contribute a percentage or provide a flat dollar amount toward plan premiums. If providing a flat dollar amount, it must satisfy the minimum percentage requirement. Outside of the annual waiver period, the minimum employer contribution requirement is 25% of the employee-only premium cost.
Small business owners who offer health benefits experience a number of business advantages. No matter how many employees are within your company, the benefits of providing health coverage are clear for them and for you.
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Attract and retain top-notch talent A Glassdoor survey found that employees viewed health insurance as the most important benefit they receive from their employer. Offering coverage to employees can help businesses compete for the best employees and keep them working.1 |
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Boost productivity A MetLife study found that 60% of employers linked offering health insurance to higher productivity levels. Health insurance can help protect employees and their families with coverage for wellness visits, prescription drugs, emergencies, mental health benefits, and chronic conditions. This in turn can help keep employees happy, healthy, and productive!2 |
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Options for you and your team Employers sponsoring coverage as a group can access coverage from a broad network of providers, benefit plans, and network options. This means employers, employees and their families can access care when and where they need, reducing time away from the business. |
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Save on taxes Offering health insurance could present tax advantages to the business in the form of deductions and payroll tax benefits as well as the possibility for employees to use pre-tax dollars for their portions of the premium. |
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Invest in your own health and the health of your employees As an employer, you’ll join a group health plan with a larger health network and more health care options. So, you ensure better health care for you and your family as well as your team. |
BCBSIL leverages different provider networks to offer health care plan options that fit your small business budget.
Network Offerings
