Is your business expanding? Are you also looking to hire additional full-time employees and start offering key benefits like health insurance through the company? If so, it's likely time to start looking around for a group health insurance provider that can meet your business's needs. Health insurance can have a lot of fine print on it though, and that can be especially true for group policies purchased by a business such as yours. Make sure you ask questions and know exactly what your company and your employees are going to get before you finalize your health care provider.
Find Out If the Plan Covers Dental, Vision, or Other Extras and If There is an Additional Fee for the Company or Your Employees
Is the group health insurance firm you are working with focused on health coverage only, or are there additional options such as dental, vision, or other additions that your employees will be able to select? Are these options all provided under the same policy or through the same company, or will you have to look at working with more than one group health insurance provider to meet all of your needs?
Figure Out a Range of How Much Each Employee Will Be Expected to Contribute for Coverage
Some companies are willing to pay the full cost of their employees' health insurance policy, but a more common tactic is for the company to cover some of the expense but then have employees pay for the remaining portion out of their paychecks. If your company is still growing, it's likely you'll pass on some of the costs to the employees, but only you know how much you are paying each of those employees. Look at that number and then the amount they will be expected to contribute out of each paycheck or on a yearly basis. Do the benefits offered seem worth it for that amount of money, and is this something that will seem like a good deal to your employees?
Look for a Group That Can Offer Employees Multiple Options or Additional Coverage for Specific Needs
If your company has a diverse range of ages, you might have people who are fine with a high deductible in exchange for a lower premium out of their paycheck but then also have older employees who may want to pay a bit more for a lower deductible. Is the group health insurance plan offering multiple options to employees who have different goals in mind? Do you have multiple employees who might be in need of special care such as matters related to pregnancy and childbirth? Look for specific options that may make these policies more attractive to your employees.
For more information, reach out to a local group health insurance company, such as Wilkinson Insurance Agency.
