Many small business owners make the mistake of purchasing a
group health plan without utilizing the services of
experienced insurance agents to help choose the most viable
and affordable plan for their company.
In most cases, the insurance agent's commission is already
included in the cost of the health care plan, so companies
don't pay any more to take advantage of the valuable
experience a reputable insurance agency can offer. When
choosing between the many health plan options available,
employers can actually save time and money by consulting
with an established insurance agency before investing in
medical coverage plans that best suit their employee's
needs and the company's budget.
Studies have shown that one of the benefits of providing
group health insurance for employees is the increased
retention rate for a quality workforce. In these days of
high gas prices and increased costs, offering health
insurance at the workplace is a big incentive for many who
cannot afford individual health insurance coverage.
Investing in your company's future healthcare can increase
loyalty, and overall employee satisfaction, productivity,
security, and of course, employee health and fitness. The
cost and options of these plans vary according to group
size and the state in which your insurance company, or
provider is located.
Group health insurance plans start with at least two full
time employees and because of healthcare reforms, every
state is required to offer this coverage in the workforce.
These insurance coverage plans vary greatly and business
owners have many options available to suit their budget;
from basic coverage, to plans that cover preventive care
and dental coverage. The many options offered in managed
care plans, or HMO's, and fee-for-service plans can be very
confusing.
Employers must decide how much they can invest and what
type of medical services they can afford for their
employees. HMO's are designed to offer reduced rates by
using a select group of doctors, hospitals, and other
healthcare providers. Employees must stay within that
network when getting medical care. Fee-for-service or
indemnity group health plans allows your employees to
choose their providers. They in turn have control over
their choices of doctors and specialists and many options
in who they want to visit for their medical services.
A large percentage of those insured are employees which
enables insurance providers to offer a variety of small and
large group health coverage plans. For companies with 2-100
employees, and large companies with 100 plus employees,
there are several factors which affect the cost of the
insurance premiums. Larger companies have an advantage
because of their size and can often select reduced premium
plans that offer basic medical coverage for the employees.
Some health plans have higher co-pays for the employees and
only cover medical care within the managed network of
healthcare providers. Other plans require higher premiums
for the employer, but cover more medical services for the
employee.
Investing in group health insurance for your employees is a
major decision that needs professional advice and planning.
Keeping your company's employees healthy and productive for
years will pay off in increased profits and success. With
an experienced and reputable insurance agent, your company
can have the help and expertise to consider all the
insurance options available based on your budget, the
medical needs of your employees and the costs of medical
services in your state. This is an invaluable service for
employers who want to consider all options in comprehensive
health care coverage of their employees.
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Elliot Bigman is an insurance agent with Direct Marketing
Assoc.award winning BCBSNC® insurance agency serving
NC.Call 800-226-0092 or visit NC Insurance Plans Online,
http://www.ncinsuranceplansonline.com for Blue Cross NC
rates and quotes.
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