Why do employers offer Mini Med plans?
Some health insurance is better than no health insurance at all. Providing health care for your part-time and hourly employees will improve your company image, increase morale, and boost your recruiting efforts. This is especially true for business owners who have had to cut back on the amount they can pay for employee health insurance or drop the benefit altogether. The ability to offer some sort of health plan increases their ability to retain employees that might seek work elsewhere looking for health benefits. These plans provide limited medical benefit coverage to full-time, part-time, entry-level employees and any other employee who cannot afford or is not eligible for a traditional major medical plan. What are the main drawbacks to Mini Med Health Plans? The obvious downside to mini-medical plans is the enormous out-of-pocket expense that could be racked up if the member is involved in an accident or develops a disease that needs routine treatment and hospital stays. These are t
