Small Group (2-50 employees) Health Insurance cont.

Fee-for-service plans allow you to choose your own physicians and hospitals. Most of these plans require you to pay deductibles and coinsurance. Basically, you receive coverage by your insurer for the "reasonable and customary" charges for physician and hospital services. Fee-for-service coverage for employer-sponsored health insurance typically has three major characteristics:

• Employers and employees share premiums
• Employees have the freedom to choose any provider
• Insurance company pays the allowable claim

• Case management
• Centers of excellence
• Pre-admission certification
• Second surgical opinion
• Special benefit networks
• Utilization review

Other Forms of Insurance Important to Small-Business Owners:

A) Disability Income Insurance

Disability income insurance helps protect you, your business and employees in the case that sickness or injury prevents you from being able to work. It helps protect against family financial catastrophe by providing income to meet daily expenses. Some policies include special features, such as:

• Recovery benefits that pay after you return to work, and are reestablishing a customer or client base
• Overhead expense coverage that pays for certain office expenses
• For jointly owned businesses, a disability buy-out policy for one partner to buy a disabled partner's share of the business
• Key-person insurance, which protects a business against the loss of income caused by the disability of a key employee

Long-term care insurance provides you and your employees with support should a chronic illness or disability prevent a person from taking care of themselves for an extended period of time. You can receive long-term care in a nursing home or as home care. Long-term care insurance is not only for older people, but can help young and middle-aged persons who have been in an accident or suffered a debilitating illness. Long-term care insurance allows people to pay a fixed premium in order to offset the risks of much larger out-of-pocket expenses.

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