Small businesses thrive with personalized health insurance choices

Types of Personalized Health Insurance Options

Several types of personalized health insurance options are available for small businesses. Health Reimbursement Arrangements (HRAs) allow businesses to reimburse employees for individual health insurance premiums and qualified medical expenses. This approach provides flexibility and control over healthcare spending⁴.

Another option is a defined contribution health plan, where businesses allocate a fixed amount of money for employees to spend on health insurance of their choice. This model empowers employees to select plans that best meet their needs without burdening the employer with managing a group plan⁵.