Group Health Insurance Quotes

It is widely known that companies which provide health insurance benefits to their employees have a competitive edge when it comes to attracting the most qualified candidates for positions of employment. But in today's economic climate of tightening budgets and spiraling health insurance costs, many employers are being forced to do away with company-sponsored health insurance or else are drastically reducing the benefits which are offered.

It all comes down to cost. Physicians, insurance companies, and especially consumers are all feeling the effects of out-of-control health care costs. But surprisingly, there are affordable group health insurance quotes and plans available to employers. Businesses of all sizes can benefit from offering group health insurance plans to its employees. There are many different varieties of group plans from which to choose. Getting group health insurance quotes enables employers to compare different plans from different companies. Armed with this information, they can make a sound financial decision when deciding which group health plan is right for their company and its employees.

Comparison Shop Today for Group Health Insurance Quotes!

Here we will discuss some of the more common group health insurance plans available to employers. Understanding the different types of health plans which are offered will be helpful when obtaining group health insurance quotes.

Consumer-Directed Group Health Plan

Businesses, both large and small, are choosing popular consumer-directed health insurance plans when deciding on coverage for their employees. These plans are called "consumer-directed" because they basically give control of the health care dollars to the policyholders themselves. Along with tax-advantaged savings for both the employer and the employee, these plans also offer low monthly premiums. Two of the more popular plans are described below:

• Health Savings Account (HSA) Plans. A health savings account is a bank account into which both the employer and the employees contribute tax-free income. The money in this account can be used for almost any medical or health-related cost. One positive aspect of an HSA is that if the funds are not used during the specified time, the money rolls over to the next year and it also earns interest. An HSA is always partnered with a high deductible health plan (HDHP). This plan provides catastrophic coverage for employees while maintaining low monthly premiums- perfect for companies on a tight budget.
• Cafeteria Plans. When searching for group health insurance quotes, this is an excellent plan to consider. It is called a "cafeteria" plan because the employees are able to choose from a "menu" of options when deciding what type of coverage they need. These options can include disability, vision, dental, medical, and term life insurance. The cost of the benefits is shared by the employer and the employees using tax-free dollars which makes the insurance coverage more affordable for all. The cafeteria plan differs from the health savings account plan in that the money which is contributed throughout the year must be used within that same year. The funds do not roll over.

Comprehensive Group Health Plans
When comparing group health insurance quotes, one of the more affordable options for comprehensive group coverage may be managed care plans. These plans basically provide a network of physicians, specialists, health care professionals and hospitals which provide medical care at a lower cost to the policyholders. For employers and employees alike, this translates to lower monthly premiums, smaller copayment amounts and lower coinsurance costs.

The following plans are some of the most common managed care group plans. Understanding the differences among these plans will enable you to better compare group health insurance quotes when making your choice of a health insurance plan for your employees.
PPOs (Preferred Provider Organization). This plan provides employees with a vast network of physicians and other health care professionals from which to seek medical services and treatment. When in-network physicians are used, there is great savings to your employees. One important aspect of this plan is that any doctor may be seen for treatment. However, if the physician is not within the preferred network, the costs will be higher. PPO plans which have a high deductible can also be used with a health savings account.

• HMOs (Health Maintenance Organization). This is one of the most affordable group health insurance plans available. Like a PPO, an HMO consists of a large network of health care professionals. However, with an HMO, your employees must be seen by a member of this network and also must choose a primary care physician (PCP) from within this network. The primary care physician is responsible for giving any referrals which are needed for specialists or other medical technicians and these, too, must come from the network. Most HMO networks have thousands of physicians from which to choose, so this is normally not a problem for your employees.
• POS (Point of Service). This plan is a combination of the PPO and HMO plans. With a POS plan, your employees will choose a primary care physician, but they will not be required to have a referral when seeking specialized treatment. Comprehensive group insurance coverage will be available from both network and out-of-network physicians and hospitals.

You can learn more about the plans available and get free group health insurance quotes by connecting with a professional agent today.

A Healthier Workforce is Good Business

Simply put, healthy employees equal a healthy business. More and more companies are discovering the advantages of promoting healthy lifestyles and informed choices to their workers. What can employers do to encourage their employees to take an active role in their own health management? Here are some simple, yet effective, suggestions.

• Stock your vending machines with healthier snacks and beverages.
• Look for discounted memberships to fitness centers and gyms and provide them to your employees.
• Offer programs that deal with managing weight, quitting smoking, reducing stress, and managing chronic diseases, such as diabetes or asthma.

Preventive care is a major factor in keeping down group health insurance costs. Employees should be encouraged to have regular medical physicals and check-ups. Health problems that do arise can be detected and treated at an early stage. In the long run, this will save costs since it is less expensive to provide preventive health care than it is to treat a serious health problem.

Researching and Understanding Your Group Health Insurance Options

Choosing the right group insurance plan for your business and its employees can seem like an enormous and overwhelming task. But it doesn't have to be. It's important to learn all the facts about the various group plans available and this includes getting group health insurance quotes from a reliable and trusted source. The professional agents at www.individualhealthinsurance.org can help you assess your business's needs and what type of group plan would benefit both your employees and your financial bottom-line. It's absolutely free and there's no risk or obligation.