HHS introduced an online tool that compares health plan benefits and costs for small-business owners.
The tool was added to Healthcare.gov, a website mandated by the Affordable Care Act, according to an HHS news release. It allows small-business owners to research health plan products that are locally available.
More than 530 insurers have provided information about more than 2,700 plans, according to HHS.
“This new information will help business owners navigate what has traditionally been a complicated and confusing decision,” HHS Secretary Kathleen Sebelius said in the news release. “Both owners and their employees can feel more confident that the plans offered will be the best to suit everyone's needs.”
According to HHS, small businesses spend 18% more to receive the same health insurance coverage as large employers. The tool includes data about a health plan's out-of-pocket limits, average cost per enrollee, available deductibles, co-pay options, and included and excluded benefits.