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What is the best health insurance for small business?

If you own a small business and want to attract and keep employees, you may want to consider providing health insurance as a benefit. In fact, a survey from 2018 found that 56% of participants admitted their decision to stay at a current job was influenced by whether or not the company offered health insurance as a benefit. And this is especially true among highly skilled employees who earn higher salaries and would have no problem finding a better job that offers benefits. 

As a small business owner, you may not have the time to research the vast health insurance marketplace, so we conducted some research to figure out the best health insurance for a small business. 

With that being said, here are our top affordable health insurance providers for small businesses in 2022:

United Healthcare

United Healthcare, or simply UHC, is the nation’s largest provider of health insurance services. They offer effective group plans in all U.S. states and are considered by many to be the best choice for small businesses. Here are a few reasons why:

  • Technological Resources: UHC group plans offer Virtual Visits, which allow you to access doctor consultations and other online health care using tablets, mobile devices, and computers.
  • Extensive National Provider Network: UHC is backed by a vast network of hospitals and doctors. This makes their services more accessible for those who are enrolled in small business plans.  

Blue Cross Blue Shield

Another provider that makes an excellent option for small businesses is Blue Cross Blue Shield. This company operates via 36 independent and local health insurance companies that comprise the BCBS Association. Among these providers, they cover people in every U.S. ZIP code and state. Here are the top reasons to consider Blue Cross Blue Shield for your small business health insurance needs: 

  • Excellent Plan Options: BCBS provides coverage for every one in three Americans, and they offer the nation’s most popular PPO network called the BlueCard. 
  • Popular Among Small Businesses: Currently, millions of people employed by small businesses receive their health coverage from Blue Cross Blue Shield subsidiaries.  

It’s also worth mentioning that BCBS partners with most U.S. doctors and hospitals, so their insurance plans are widely available to small business owners. 


Anthem is available in 14 states and is the largest for-profit healthcare company that’s a member of the BCBS Association. Anthem offers one of America’s most extensive provider networks, so there’s a good chance that your employees already see physicians within this network. Here are some reasons that Anthem is great for small businesses: 

  • Excellent Tool Suite: Anthem offers a great selection of online tools that your employees can use to schedule virtual care visits, find doctors, or ask questions on the 24/7 NurseLine.
  • Integrated Approach to Healthcare: Anthem has an integrated approach to care which is evident with their combined plans that connect patient data to manage care better. 

If you opt for Anthem for your small business health insurance, everyone benefits from having access to an extensive medical network and resources to help manage your group plans. 


Humana is another large health insurance provider in America that is popular with small businesses. They are well-liked for the large number of group plans offered, as well as the benefits from these services included with all small business plans: 

  • Convenience Features: Every Humana group plan includes virtual doctor appointments, wellness rewards, and access to Humana’s own pharmacy services. 
  • Preventative Care Policy: All preventative care appointments done in-network are covered by 100 percent of Humana group plans. 

Overall, Humana offers a wide array of affordable and effective small business health insurance plans for companies of all sizes. 


Cigna  offers health insurance policies in 8 states and D.C. They are considered a major health insurance provider and are favored by many because of the high-quality services they provide. Here are some reasons to consider this health insurance provider: 

  • Flexibility: Many of their HMO group healthcare plans, HRAs, and HSAs offer more tax savings and lower premiums. Additionally, their Cigna PPO networks allow you more flexibility in terms of choosing physicians. 
  • Affordability: Since they are America’s largest managed care organization, they offer more affordable health insurance plans for small businesses. 

So, if you’re looking for an excellent small business healthcare company with managed care services, Cigna is one of your best options. 


The final health insurance company we’d recommend to a small business is Aetna. They offer small group plans across the country and are backed by a network of hospitals, doctors, and specialists. Here are the top reasons to consider an Aetna small business healthcare plan:

  • Self-funded Coverage: Aetna offers Funding AdvantageSm plans that provide all the benefits of self-funding for small businesses. They also provide cost control and loss protection. 
  • Affordability: Aetna’s health insurance plans are affordable yet competitive for small business owners, including funding options and wellness offerings. 

Aetna is one of the country’s largest health insurance providers and is especially popular among small business owners looking for small group medical benefits that are of high quality. 

How To Choose The Best Health Insurance For A Small Business

As you can see, there are many options for finding the right health insurance plan for you and your employees. Here are a few tips to make the process easier for you:

Do Your Own Research

As a small business owner, you can look through all of your options and compare services and prices. Figuring out what you need in a plan before enrolling is highly recommended. And many insurance companies offer multiple choices for small businesses. You can usually find what you need to know by keying a small amount of information (number of employees and your zip code) into a form on their website. 

Hire An Insurance Broker

If you are too busy or have no desire to learn the ins and outs of the health insurance industry, find an insurance broker to help. They know the federal and state laws and will compare the plans and find the best one for your needs. This alleviates the leg work you’d have to put in, and let’s face it – the insurance industry is complicated sometimes! And the best part is that you won’t have to cover the broker’s fees because the insurance companies cover their cost. For best results, choose an agnostic or independent broker who will take the time to learn your needs and find you the best options. 

Check Out The SHOP Marketplace

Go to when in doubt, as they have expert guidance available, high-quality insurance plans, and valuable calculation tools.

The Bottom Line

In the end, there are lots of insurance providers and plan options available for your small business. Just remember to take enough time to understand each plan and make an informed decision so you can rest assured knowing everyone’s needs are met.