Group Insurance
We help companies big and small to set up and manage their employer health insurance and employee benefit packages.
Supporting Both Established and Startup Companies
At The Eriksen Insurance Group, we’re passionate about supporting businesses at every stage of their journey.
- For Established Companies: We help you optimize your employee benefits, ensuring you remain competitive in attracting and retaining top talent. Our group health insurance solutions are tailored to meet the needs of your workforce while staying within your budget.
- For Startups: We understand the unique challenges of launching a business. That’s why we offer flexible, affordable health insurance options to help you provide essential benefits to your growing team. We’ll work with you to find scalable solutions that grow with your business.
- For Growing Businesses: As your company expands, your insurance needs evolve. We provide strategic guidance to help you scale your employee benefits, ensuring seamless transitions and continued support for your workforce.
Large Employers
Mid/Large-sized Employer Health Plans
In Illinois, businesses with more than 50 but fewer than 100 eligible employees are generally classified as Mid-Market employers—even if fewer than 50 employees enroll in the group health plan.
Key Considerations for Mid-Market Employers:
- Eligibility & Underwriting – Once a company exceeds 50 employees, insurers will review participation rates and medical history when determining approval and setting rates for a new group health plan.
- Standardized Benefits – Group health plans for companies with 50 to 100 employees follow standardized benefit structures.
- More Customization Over 100 Employees – Once a business exceeds 100 employees, more plan design and funding options become available, allowing for greater flexibility. There are self-funded, level-funded, and minimum premium funding options.
- There are self-funded, level-funded, minimum premium as well as MEC Plans. MEC stands for Minimum Essential Coverage. MEC is a lower cost option and is designed to satisfy the Individual Mandate under ACA/Obamacare law.
For personalized guidance on the best health plan for your business, contact us today to explore your options!
Small Employers
Small Employer Group Health Plans
Under the Affordable Care Act (ACA), a small employer is defined as a business with 2 to 49 W-2 employees (though up to 10% can be 1099 contractors). To qualify, W-2 employees must appear on the company’s quarterly wage and tax statement (Form UI-3/40).
While most small group plans require a corporate structure, we can accommodate sole proprietors in certain cases. Additionally, husband-and-wife only businesses may qualify for group insurance if structured as a partnership, with both spouses actively working in the company. In these cases, a K-1 (Form 1165) is required to confirm partnership status.
Why Choose a Small Group Plan?
- Competitive Pricing – Group rates are often more affordable than individual plans on the health insurance exchange.
- Lower Deductibles & Out-of-Pocket Costs – Many group plans offer better coverage with lower expenses for employees.
- Guaranteed Coverage – No medical underwriting, no pre-existing condition exclusions.
- Flexible Enrollment – Group health plans can be quoted and started anytime during the year.
Looking for the best group health insurance for your business? Contact us today to discuss your options!
We Are Here To Help.
A consultation costs nothing. Contact us today to see how we can help provide coverage for your employees and reduce expenses for your business.