Let’s get down to it. ‘MEWA’, or the ‘Multiple Employer Welfare Arrangement’ is our most recommended health plan for a Small Business in Missouri. If your small business has 2-50 employees, this health insurance plan is almost always the best for you (with a few exceptions which I will cover below). I haven’t seen lower rates than MEWA’s in this business for a long time. MEWA’s insurance plan is usually 30-40% lower cost to your small business than almost everything else in the Marketplace, that have similar health coverage & deductibles. If none of the exceptions below apply to your business, I would Highly Recommend that you consider the MEWA Health Insurance Plan.
Here are some things to consider about `MEWA :
- MEWA is offered through your local Chamber of Commerce, which all have pooled together for a Missouri-wide Small Business insurance pool. You must be a member or become a member of your local Chamber of Commerce to get the MEWA plan. (I would recommend joining your local Chamber of Commerce regardless of MEWA, but that’s just my personal opinion)
- MEWA is more sensitive to the health risks in your business. This means if some of your employees already have some Health Issues, or are in a higher risk population (Older, have Diabetes, etc.), the plan’s price advantage will shrink.
- MEWA’s rates are usually still better, even with a High-Risk Employee pool.
- If you have some Employees with health issues, the plan is flexible. MEWA will often still be the best choice for your Business, both in coverage and cost.
- This advice is current as of the publishing of this article – if you are reading this a year or three down the road things may have changed.
If you are Small Business owner I would highly encourage you to investigate this plan. Still, MEWA is no silver bullet. The Health Insurance world is constantly changing and I’ve seen many plans that were once fantastic become average. I also want to state that I was not compensated by MEWA or anyone else for recommending this plan.
Written by Mike Butz, founder of MB Health, and Health Insurance Advisor to 50+ Small Businesses.
If you are considering providing Health Insurance to your employees, I would also like to recommend that you consider a Health Insurance Advisor (even if it’s not me!). You can find out why in another article linked here.
If you want to learn a bit more about this plan, click here to visit MEWA’s site