Understanding Insure Oklahoma: A resource for Small Businesses in Norman
For small business owners in Norman, Oklahoma, providing health insurance can often feel financially out of reach. Fortunately, the state offers a program called Insure Oklahoma, designed to make quality health coverage more accessible and affordable for both employers and employees. Understanding how this program works can help small businesses stay competitive and contribute to employee well-being.
What Is Insure Oklahoma?
Insure Oklahoma is a state-sponsored program that helps low- to middle-income, working adults gain access to affordable health insurance through their employer. The program has many components but here we focus on the Employer-Sponsored Insurance (ESI) program.
The ESI program option helps small businesses (with 250 or fewer employees) cover 60% or more of their eligible employees’ monthly health insurance premiums. To qualify, both the employer and the employee(s) must meet certain criteria, including income and residency requirements.
Advantages for Small Businesses in Norman
Cost Savings: Insure Oklahoma significantly reduces the financial burden on employers by subsidizing premiums, making it more feasible to offer benefits without straining the business budget.
Improved Employee Retention: Offering health insurance can help small businesses attract and retain quality employees in a competitive job market like Norman.
Flexible Eligibility: The program is designed with flexibility in mind, helping a wide range of industries from retail to food service and beyond.
Insure Oklahoma offers a practical solution for small businesses in Norman looking to provide health benefits without breaking the bank.