The US Department of Health and Human Services (HHS) recently announced that an expanded website now offers small business owners more detailed options for health insurance plans. This tool, located at www.HealthCare.gov, will allow small business owners to compare the benefits and costs of health insurance plans and research locally available products with ease, according to a company press release.
More than 530 insurance providers have given information about more than 2,700 coverage plans nationwide. New information includes insurance product choices for a specific zip code, summaries of cost and coverage for small group products that shows available deductibles, co-pay options and benefits, as well as information about consumer rights, tips for navigating the market and details about how the Affordable Care Act provides new protections for beneficiaries.
“This new information will help business owners navigate what has traditionally been a complicated and confusing decision,” Kathleen Sebelius, HHS Secretary, stated in the release. “Both owners and their employees can feel more confident that the plans offered will be the best to suit everyone’s needs.”
On average, small businesses spend 18% more than large businesses for the same coverage. The new tool will bring transparency to the marketplace and help ensure that small business owners are receiving fair negotiations.