Group Health Insurance

Building a successful business is hard enough work, without the added headache of finding affordable, quality health insurance.

Whether you're just starting out, or own a small business with multiple employees, you're going to need help finding and securing health coverage.

Going into business for yourself can be a bit of a gamble. But not insuring yourself, family, or employees only raises the stakes. Those who should be most interested in a group health plan are:

• Small business owners who know employer-sponsored Health Insurance is one benefit workers truly value. In fact, offering a Group Health Insurance plan can make you more competitive, since you can attract and retain the best workers.

Health Insurance helps protect your finances in the following ways:

• Discounted rates for medical care. Insurance companies negotiate rates with health care providers. Without that feature, even the cost of a regular checkup or office visit can be twice as high.
• Spares you unexpected medical costs. Bankruptcy due to hospitalization over an unforeseen injury happens more often than you’d think.
• Protects your ability to work. If you don’t have your health, it isn’t possible to work.
• Improves access to quality care. With a Group Health Insurance plan, you gain access to a broader network of health care providers than you would otherwise have.
• Encourages a healthier lifestyle with regular checkups and preventive care that won’t cost you too much and are likely included in your policy.
• Shields your business from personal medical costs. Unexpected personal medical expenses can impact your personal liability for medical costs. Health Insurance can help you keep your business protected.
• Hire and retain great workers. Employer-sponsored Group Health Insurance coverage is a valuable inducement to top talent, and an important consideration in complete compensation packages.

The primary category of Health Insurance for small business owners is:

• Small Business/Group Plans that are employer-sponsored health coverage. Costs are typically shared between the employer and the employee, and coverage may also be extended to dependents.
  

After that, there are more plan options to choose from:

PPO / Preferred Provider Organization plans are the most popular for individuals and families. It’s your responsibility to make sure that the health care providers you visit participate in the PPO. A PPO plan may be right for you if:

• Your doctor already participates in the PPO
• You want to direct your own health care, and can work with the predetermined preferred provider list

HSA-eligible plans are usually PPO plans with higher deductibles, designed for use with Health Savings Accounts (“HSA”). Similar to a Flexible Spending Account (FSA) or 401(k), an HSA is a special bank account that allows participants to save pre-tax money specifically for future medical expenses in the future. An HSA-eligible plan may be right for you if:

• You want to pay for health care expenses with pre-tax dollars
• You’re relatively healthy and don’t need lots of care or doctor visits
• You prefer a cheaper monthly premium even if it means having a higher deductible
• You want to “roll over” your contributions each year

You may think you want the cheapest insurance you can find, but realize you may not be getting everything you bargained for…

While most insurance products are similar in price and function, insurance providers are very different when it comes to structuring a policy that actually covers you.

There’s no such thing as a one-size-fits-all insurance policy when it comes to your business.

We’re your neighbors. We protect businesses and people we know and care about, and that means we always look for ways to protect you better, including carefully choosing the insurance companies we represent to be both affordable and responsive.

Contact us and let the professionals at our company help you forge the strongest shield possible to help you protect the things you are working hard to build.