Group Health Insurance
Whether you run a small family business, a large corporation, or everything in between. We can help you stay competitive with a custom health benefit plan for your employees that is tailored to fit any budget and size of business!
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Employee Health Insurance Policies For Businesses of All Sizes
Group Insurance is the ideal insurance option for people not eligible for Medicare. This coverage generally has a broader network of doctors, specialists, hospitals and even out of network coverage compared to ACA, (marketplace plans). The best part is, there can be no waiting periods, no pre-existing conditions and there are a variety of plans that fit your budget.
We work with Groups of all sizes Full Time Eligible Employees (FT EEs).
2-50 FT EEs
Small Business owners
Church or Charity
51-100 FT EEs
100+ FT EEs
Fortune 500 companies
Group Insurance is broken down into different categories such as fully insured and level funded.
These plans are ACA compliant which means they must provide coverage immediately with no waiting periods, and preexisting conditions are excluded. These rates are firm and there may be a price break with more eligible employees participating. This is because the insurance risk is pooled and the law of large numbers allows for more risk to be spread across more people v one person bearing it all. Many hands make light work.
This is a more recent trend in the Employer Benefits Group space that allows a Group, regardless of the size, to win back some of their premium. These plans are fully insured against any major claims; however, if the claims experience for the year is less than anticipated by the insurance company, the employer is eligible for a rebate or premium savings on their future bill. This is very attractive to groups that are generally healthy and expect to stay that way. For Groups under 50 lives, these plans are underwritten and the prices offered are preliminary; however, if the underwriting is favorable, the rates may be lower than the initial offering. On the flip side, the rates can be more expensive than the preliminary offering if the underwriting finds more risk.
There are different networks within each plan. Fully insured carriers use HMO or PPO networks while Self-funded plans have different names but are essentially the same as an HMO and PPO.
These are usually more restrictive in the access provided because most all decisions are run through a primary care physician in the event that a specialist is needed. You are encouraged to use in-network doctors, facilities and hospitals while not doing so could cause increased out of pocket costs or certain coverage being denied. That is because out of network benefits are not covered under HMOs. This is a great option if the network is large and there are good hospitals in the area.
These are more accessible and the freedom of choice is available to you. There are no referrals needed to see a specialist and you have the option of leaving the network and going out of network. Out of network benefits are covered under PPO plans.
“Every company has different needs, and we understand employee benefits are not “one size fits all.” We work with companies of all sizes to hand-tailor a benefits package that meets your company’s specific needs. Benefits are often the second biggest expense that a business faces, which is why it’s important to get it right. By working with Proper, you can attract, retain, and protect your employees all with your company’s bottom line in mind.”
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