Sana Review: The Future of Small Business Health Insurance is Here
Hey there, fellow small business owners! If you‘re like me, you know that providing health insurance for your team is one of the most important—and challenging—parts of running a business. It‘s a constant balancing act between offering competitive benefits and keeping costs under control.
That‘s why I was so excited to discover Sana, a game-changing health insurance solution designed specifically for small and medium-sized businesses. After doing tons of research and ultimately deciding to switch my company‘s health plan to Sana, I‘m here to share my experience and insights in this comprehensive Sana review.
What is Sana?
In a nutshell, Sana is a modern health insurance carrier that leverages technology and innovation to offer affordable, high-quality health plans to small businesses. Their mission is to make health coverage accessible and simple for the underserved small business market.
Sana‘s fully-insured plans are tailored to the unique needs of small groups, with lower premiums than traditional insurers and easy online tools for administration. They operate on a full PPO model, giving members access to a large network of top doctors and hospitals nationwide.
The State of Small Business Health Insurance
To really understand the value of Sana, it‘s important to look at the broader small business health insurance landscape. Here are a few key statistics that illustrate the challenges small employers face:
- Only 47% of businesses with fewer than 10 employees offered health coverage in 2018, compared to nearly 100% of large firms (source: eHealth)
- Annual premiums for small group plans average over $7,000 for single coverage and nearly $20,000 for family plans in 2019 (source: Kaiser Family Foundation)
- From 2014 to 2019, premiums for small business plans increased by an average of 4.5% per year, outpacing wage growth and inflation (source: SHADAC)
As you can see, sky-high costs and limited options have made it increasingly difficult for small businesses to offer competitive health benefits. This not only impacts the health and financial wellbeing of employees, but also puts small businesses at a major disadvantage when it comes to attracting and retaining talent.
How Sana is Shaking Up Small Business Health Insurance
This is where Sana comes in. By harnessing the power of data and cutting-edge technology, Sana is able to bring high-quality, affordable health plans to small businesses that have been underserved by the traditional insurance market.
One of the biggest advantages of Sana is their simple, transparent approach. With Sana, you can get a custom quote online in minutes just by providing some basic information about your business. No more lengthy applications or confusing jargon.
Sana‘s plans are fully-insured, meaning they handle all the administrative work and financial risk for you. This is a huge weight lifted for busy small business owners who don‘t have the time or resources to navigate the complexities of self-funding or level-funding.
Another standout feature is Sana‘s PPO network, which gives members access to over 1.2 million providers nationwide, including 6,500 hospitals and over 100,000 specialists (source: Sana). This means your employees can see the doctors they know and trust without sacrificing quality or convenience.
What really sets Sana apart, though, is their focus on virtual care. With Sana plans, virtual primary care, mental health counseling, and other telehealth services are always free for members with $0 out-of-pocket costs. In our new world of remote work and social distancing, this benefit is more valuable than ever.
Sana Plan Options and Pricing
Sana offers a range of plan designs and price points to fit the diverse needs of small businesses. Their plans come in five different metal tiers, each with different cost-sharing structures:
| Plan Tier | Key Features |
|---|---|
| HSA Compatible | High deductible plan with HSA for tax-free health spending |
| Bronze | Lower premiums with higher out-of-pocket costs |
| Silver | Balanced split between monthly premiums and out-of-pocket costs |
| Gold | Lower deductibles and more robust coverage with higher premiums |
| Platinum | Most comprehensive benefits with lowest out-of-pocket costs |
Within each tier, businesses can further customize their plan with different deductible amounts, coinsurance rates, and copay options. Sana also offers a variety of add-on benefits like dental, vision, life, and disability insurance to complete your benefits package.
One of the biggest selling points for Sana is their affordability. On average, Sana premiums are 20% lower than traditional small group plans on the market (source: Sana). They also have a medical loss ratio (MLR) of 85%, meaning 85 cents of every premium dollar goes directly towards paying for members‘ healthcare services (source: Sana). That‘s a great indicator that Sana plans provide real value.
Real Experiences from Sana Customers
Don‘t just take it from me – Sana has earned rave reviews from the small businesses they serve. On leading review sites like Featured Customers, Sana boasts an impressive 4.8 out of 5 star rating average.
Many small business owners appreciate how Sana has simplified benefits administration and made providing health coverage possible for their team:
"As a small nonprofit, we never thought we‘d be able to offer health insurance to our employees. Sana made it possible with an affordable plan that meets our needs and budget. The online tools make enrollment and account management a breeze. It‘s been a game-changer for our organization!" -Jill D., Executive Director
Others praise Sana‘s exceptional customer support and member experience:
"When one of my employees needed help finding a specialist, Sana‘s concierge team went above and beyond to help him get an appointment quickly. They‘ve been so responsive and helpful every step of the way. Moving to Sana was one of the best decisions I‘ve made for my business." -Michael R., Small Business Owner
Sana‘s net promoter score of 80 is further evidence of their high customer satisfaction and loyalty (source: Sana). When was the last time you heard someone rave about their health insurance company?
How Sana Compares to Other Small Business Health Insurance Options
If you‘re shopping for small business health coverage, you might be wondering how Sana stacks up to other options like traditional group plans, self-funded plans, or individual coverage.
Compared to legacy insurers, Sana offers similar or better levels of coverage at much more affordable prices. You‘ll get access to the same large networks of doctors and hospitals, but with the added benefits of free virtual care and more robust technology tools.
Self-funded and level-funded plans may work well for some businesses, but they come with financial risk and administrative hassle that many small businesses can‘t take on. With Sana‘s fully-insured plans, you get the predictability and simplicity of a fixed monthly payment.
Sending employees to the individual marketplace might save money in the short run, but it leaves them to fend for themselves in finding an affordable plan that meets their needs. Providing group coverage through Sana is a smart long-term investment in the health and wellbeing of your team.
The Bottom Line: Who Should Choose Sana?
After doing my research and making the switch myself, I would highly recommend Sana to any small business owner looking for a better way to provide health benefits. If you want an affordable, high-quality health plan that‘s tailored to the needs of small groups and backed by excellent service, Sana is the way to go.
Of course, Sana isn‘t available everywhere just yet. They currently serve small businesses in Texas, Illinois, Oklahoma, Kentucky, Florida, Ohio, and Arizona – but they have plans to expand nationwide in the near future.
Wherever you‘re located, I hope this Sana review has given you a helpful overview of this modern health insurance alternative for small businesses. If you‘re intrigued and want to see how much you could save with Sana, head to their website to get a custom quote – it only takes a few minutes.
Remember, investing in your employees‘ health and wellbeing is one of the most important things you can do as a small business owner. With Sana, you can do right by your team while keeping your business safe and your budget on track. The future of small business health insurance is here – will you be a part of it?
