Virginia Small Business Health Insurance

Small business owners in Virginia can find, compare, apply for, and enroll in group health insurance plans through SimplyInsured. Pricing varies by state, but is only dependent on the ages of employees and their dependents. Having pre-existing conditions such as high blood pressure or diabetes no longer impacts the cost of insurance for a specific individual. In order to be eligible for small group health insurance, you must have two people in the company including owners, at least one of which is a W-2 employee. You can apply for group health insurance any time during the year - you do not need to wait for an open enrollment period. The application process can be done online through SimplyInsured and can be completed in minutes.

Small business insurance in Virginia is pre-tax, which means the amount you spend on premiums is exempt from employer and employee taxes. This provides you a 30-40% tax benefit on the cost of insurance.

There are many plan options in Virginia. To determine the best plan for you, assess your budget and the health needs of your employees. If employees expect to utilize more care and need flexibility in the providers they see, PPOs may be preferable. These plans have wider doctor and hospital networks, and you do not need a referral to see specialists. If employees will seldom require care and do not have specific preferences for providers, HMOs with higher deductibles may be preferable. Generally, PPOs have higher premiums than HMOs. If you expect pregnancies and surgeries, check the plan details to see the cost of hospital visits. If your employees take prescription drugs, check the cost of both generic and brand drugs at the pharmacy.

SimplyInsured offers hundreds of plans from top carriers in Virginia. As a top-producing broker, we have preferred status with several carriers, which ensures our clients' needs are met quickly and thoroughly. We take pride in our high customer satisfaction scores, and work to improve the customer experience everyday.

Virginia Market Overview

The Virginia small business health insurance market is a competitive and complex insurance market. For a small business, there are many health insurance options to choose from - multiple carriers, tiered doctor networks, government exchange vs private market plans, etc. The large number of options in the Virginia market can make looking for the right health insurance plan intimidating, but can also provide substantial savings opportunities by narrowing in on the most appropriate plan for specific needs.

We've summarized the various options into a high level set of recommendations, factoring in the options of small business health insurance carriers, networks, and plans available in Virginia.

Virginia Health Insurance Carriers at a Glance

Carrier EPO/PPO Cost HMO Cost Available Statewide National Doctor Network Network Tiers # Hospitals Covered # Doctors Covered
Aetna
$$ $ Yes Yes 3 95 22,000
Anthem Blue Cross
$$$ N/A No Yes 3 95 22,000
Kaiser Permanente
N/A $ No Yes 2 38 1,200
UnitedHealthcare
$$ $ Yes Yes 5 95 21,300

Below is more information about the health insurance market in Virginia, including statistics and descriptions of all major carriers.

Virginia Medical Insurance Statistics

No. of carriers available through SimplyInsured 3
No. of plans available through SimplyInsured 228
Average deductible $1,800
Average cost of doctor visit $100
Average cost of hospital stay $3,200
Average out of pocket maximum $4,500
Average employer contribution* $250
Average employee contribution* $490
* including dependents, for the last year, based on SimplyInsured data

Average Out of Pocket Maximum & Deductible for Virginia Group Medical Insurance Plans*

Monthly Premium Range Average Out of Pocket Maximum Average Deductible Percentage of All Plans
$0 - $300 $6,500 $4,900 10%
$300 - $500 $4,500 $1,600 80%
$500 - $700 $3,000 $100 11%
$700+ - - -
* Monthly premiums are calculated for one 30-year-old

Available Virginia Plans by Network Type

Network Type No. of Plans Available Median Monthly Premium
HMO 75 $348
EPO 21 $388
POS 67 $417
PPO 65 $439

Find Employer Group Health Insurance for Small Businesses in Virginia

Virginia Health Plans

Are you researching Virginia health insurance to find small business health insurance plans? Would you like to compare plans, premiums and other cost factors to provide coverage for your employees? SimplyInsured provides access to Virginia health insurance companies. See more information about Virginia Health Plans and get free, instant, online quotes.

Virginia Insurance Providers