Small Business Health Insurance: Understanding Health Insurance Categories

Small business health insurance is vital for the well-being of you and your employees. Hanneken Insurance Agency Inc. can help you navigate this process and make the right choice for your Little Falls, MN team.

Categories of Healthcare Plans

Choosing the right plan can be daunting, but understanding the basic categories can simplify the process. Preferred Provider Organizations (PPOs) offer great flexibility in choosing healthcare providers, while Health Maintenance Organizations (HMOs) can be more cost-effective but limit choice. Other options like Point of Service (POS) and Exclusive Provider Organization (EPO) plans sit in between.

  • Preferred Provider Organizations (PPOs): These plans offer significant flexibility when choosing healthcare providers. They do not require referrals from primary care physicians to see specialists; they provide coverage both in and out of their network. However, the coverage is usually greater when using in-network providers.
  • Health Maintenance Organizations (HMOs): These are typically more cost-effective than PPOs but limit the choice of healthcare providers to those within the HMO network. They require referrals from a primary care doctor to see a specialist. Out-of-network care is usually not covered, except in emergencies.
  • Point of Service (POS): These plans are a hybrid of HMO and PPO plans. They require you to choose a primary care provider within the network but also provide some coverage for out-of-network care. Referrals are typically needed to see specialists.
  • Exclusive Provider Organization (EPO): These plans provide a network of providers to choose from, like PPOs. However, they do not cover out-of-network care (unless in an emergency), similar to HMOs. They also do not require referrals to see specialists.

Navigating the complexities of small business health insurance in Little Falls, MN can be challenging. Hanneken Insurance Agency Inc. is here to help.


Four key steps when you buy farm insurance

Farm owners in Little Falls, MN should understand the importance of insuring their property. Hanneken Insurance Agency Inc. offers farm insurance coverage and can meet your insurance needs. 

There are a few steps that consumers should go through before purchasing a farm insurance policy. Here are four key steps when you buy farm insurance. 

Identify the risks of your farm operation.

Before buying farm insurance, you need to identify all the significant financial risks you should be insured against. In addition to considering risks, you should also identify any types of insurance coverage that your farm operation is required by law to carry.

Determine which types of coverage you need.

Farm insurance differs from other types of insurance because of its various coverage types. For example, farm insurance can include coverage for livestock and crop damage. Farm insurance can also include machinery coverage and outbuilding coverage.

Explore your options so that you know about all the different types of coverage that you can have included on your policy.   

Figure out how much coverage you need.

If you want to purchase adequate coverage for your farm, you may want to insure your property for its full value. You also need to determine how much liability coverage to buy. Farm owners should carry enough liability coverage to protect their assets if they face a lawsuit. 

Get quotes on farm insurance policies.

Find farm insurance providers in your area and get several policy quotes that you can compare. 

We’re here to help you with all your farm insurance needs in Little Falls, MN. Call us at Hanneken Insurance Agency Inc. if you’d like to get a quote on an insurance policy for your farm property.