Other Advantages

Frequently small businesses face other hurdles which prevent them from offering benefits.

1. Most small employers, while having a need for health and dental insurance, avoid purchasing healthcare benefits mainly because of the price.
2. Most insurance companies impose strict underwriting conditions on small businesses.
3. Quite often, small business owners with medical problems (ones who truly need the coverage) are precluded from obtaining health coverage under a group insurance plan.
4. Most insurers limit the flexibility of the plan design offered to small businesses

A PHSP overcomes these hurdles by offering the following advantages:

A PHSP does not require monthly premiums (premiums are only incurred when a health, medical or dental expense is incurred).

A PHSP allows the small business owner the opportunity to maximize the use of cash, decide on who participates and at what level.

A PHSP allows small business owners and/or their employees with pre-existing medical conditions to participate.

Virtually every health, medical and dental service is covered under a PHSP, including premiums paid for Critical Illness policies.

The self-employed individual or corporation need not worry about tracking the expenses or the fees paid during the calendar or fiscal year.

A PHSP allows the small business owner to compete for employees against much larger companies, by being able to offer a valuable employee benefit.