A Guide to Choosing a Group Health Insurance Plan
December 04, 2017
One of the leading challenges in running a business is in choosing the optimal group health insurance plan for your employees. Not all plans afford the optimal level of coverage for your talented team members, and so you must go through the plan selection process carefully alongside a respected insurance professional. To help guide you, Great Wealth is highlighting some tips for choosing a group health insurance plan.
Look at Health Spending Accounts
One of the best ways to provide group health insurance plans is to allow the individual to direct their resources according to their unique health considerations. This is the type of plan supported through health spending accounts, which cap health spending at a certain amount while allowing the employee to spend more in one area than another, as required.
Small Businesses Should Voluntary Plans
Many small business owners find it difficult to continually contribute to employee health care plans over time. Some are now looking at the benefits of voluntary plans. Voluntary plans allow the employee to contribute a certain amount to a group plan while saving money on the total insurance cost. The process ensures companies provide coverage while giving the individual the ability to benefit from a small business group health insurance service.
Speak with an Expert Before Making a Decision
It’s not easy to choose a health insurance option for those with limited experience in the industry. And so, if you’re looking at ways in which to support your employees and provide them the ideal health insurance plan for the long-term, make sure you work with an insurance company professional directly. Insurance experts can help provide an overview on the available plans and their benefits. They can also help you to reduce the cost of the group health insurance premiums by customizing plans to the unique needs of your company. Going through this process with professionals can help you to save thousands of dollars on coverage in the coming years.
Through the efforts of Ken Lomas of GWIS and Robert Evdokimenko of Apri, our company was able to realize a considerably lower cost for our benefit package that would continue into future contract years. The communication to our senior staff was handled in such a clear, concise and professional m…