TRBenefits | San Jose Group Health Insurance Broker

Businesses and Group Health Insurance

A group insurance is a type of insurance plan that an employer provide the company employees at a discounted rate from insurance provider. From the term “group” itself, it simply implies that in a group insurance, employees are concerted in this plan having the same level of health coverage. Because the plan comes in bulk of people, having this plan reduces the plan premium costs and speed up the whole process in getting the approval. The company owner can also save more money since his or her own family and himself will be covered already by the group insurance company with no additional pay on top of the basic premium of the plan. But then again, it would be better to talk with the broker or the insurance agent who’s assisting you to get the guarantee on this benefit.

Benefits of Groups Health Insurance

The most affordable type of health insurance available in the market is the group health insurance. Providing this kind of benefit to your employees will allow them to be in a better position in taking care of their own health and their families as well in a very affordable way. Having healthy employees produce high productivity and work efficiency which is a big factor on company’s success.

How to Get Insurance for Your Small Business

If you are a business owner seeking for more information about group health insurance, you might find this article very helpful for you. In this article, we are to tackle what a group health insurance is and the benefits you and your employees can take advantage from it or how this insurance benefit very beneficial would be to your business as a whole and in the long term.

The first thing that you have to be familiar with when buying a health insurance plan is the SHOP or the Small Business Health Options. This an insurance program that is being offered to companies that has 50 employees or less. It is also advisable to get consultation from a good broker or an insurance agent because you may need further information on how to choose the best insurance provider and in choosing the best plan coverage for your employees or your business’ needs. They are the one who’s knowledgeable when it comes to the health care system of our country, policies and are also well-trained in understanding different kind businesses.  This will allow you to save time and money and will guarantee you that you are being provided with best options for your company. Doing this should allow you to get the best protection for your employees.

The most in demand benefits that most employers provided to their employees in the United States is the group insurance health insurance policy. Any types of businesses such as small business enterprise, large enterprise and corporations provide this type of insurance and the common reason among these types of businesses is that health insurance policy has great advantages both to employees and employers.

The Advantages of Group Insurance to Americans

Both the employers and employees are usually paying the health insurance policies into equal payment. This always happens in most companies in the U.S. In this way, it is very beneficial for employers and employees considering the advantages they can get in having the group health insurance. In addition, since group health insurance payment falls under pre-tax because of POP or Premium Only Plans. The employer’s contribution’s taxes are not also being paid by their employees since the benefit are covered by POP. This makes the plan being supported when it comes to employer’s taxation.

Most insurance companies offer group health insurance in very affordable price rates. This is also one of the reasons why small businesses find small group insurance a very advantageous for them and for their employees. Insurance companies are also expected to offer the small group insurance policy in very affordable rates since group insurance is more about getting insurance coverage than considered as necessity for employees. And so this give a win-win results to both employees and employers.

Employee retention rate is one of the factors to a company’s success. Every employer wants to retain their best workers since they see them as talents and assets to the company. They contribute a lot to the success of the company and this is the reason why most employers are likely to offer great employees benefits such as small group health insurance. This is also a good way to attract new talents to the company. In conclusion, to have a small group health insurance will lead to good results when it comes to productivity because it helps in preventing unplanned leaves and also boost employees’ morale.

Are All Policies the Same?

Technically speaking, insurance policies are not the same. Since the laws that governs the different types of varies and so the regulations also differ. There are variety of types of businesses in the United States and are being defined depending on the number of employees each companies have. A large enterprise apparently is much capable in providing benefits to their employees compare to a small company. This is the main reason why regulations varies as well as the premium rates of their group health insurance.

What Happen When you Lose Access to Group Insurance Coverage?

Losing a job, divorce, and other related aspects are the reason why a person could lose his or her access to group health insurance. However, depending on the insurance policy and some other considerations, some people are still be able to keep the health insurance in a certain period of time. Because of this fact, it encourages most companies to provide group insurance plan to their employees. In addition, some employees can even extend their insurance coverage as long as the group health insurance is existing. This seems to be very helpful to employees and so employers are also helping their employees when they are providing the insurance. Thanks to the federal Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). However, we have to consider that not all states can take advantage of this act but have better options that they can offer to their people.

The Benefits in Small Group Health Insurance Coverage?

According to the U.S. census in 2012, the 28 million small businesses in the United States generates employments to as many as 52.6 million American people. In spite of the fact that small business employers aren’t obliged by law to provide insurance coverage plan to their employees, they are still being encouraged to provide these benefits due to some aspects that contribute and affects significantly to their business success. Most of the employers provide these benefits for employee’s retention and also to attract new talents that would be great assets to the company.

The Differences between Traditional Plan and Managed Care                

Every group health insurance has its own set of small group benefits and vary depending on some factors whether it is a traditional type of plan or a managed care plan. Most of the time, a traditional plan comes with a higher premium rate since it has a wide range of doctors and hospitals while the managed care plan would cost less than the other type of plan since it a bit limited options when it comes to choosing doctors and hospitals.

Major health insurance providers offer both types of plans and government in most states require that business owner covers at least 50% of the premium cost. Without proper knowledge, many employers think that they are required to pay the whole premium cost which causing them not to provide this essential employee’s benefits. However, most of employers still know that when they are not providing the adequate health insurance coverage to their employees, it affects their relationship with them in a disadvantageous way.  Statistics shows that 75% of small business employers admit that their business suffer due to not offering small group health insurance coverage to their employees.

Reasons for Providing Health Insurance Coverage

Based on what has discussed above, we can say that providing employees with the health insurance coverage is not that expensive as what most employers think and not offering this essential benefit to their employees affects the business operation negatively. That being said, let’s check some reasons why a small businesses  should consider providing health insurance coverage to its employees even it is not required by the law.

Good Employees Retention and Recruiting New Talents

As what we know, group health insurance coverage is one of the good benefits that attracts new talents and a great reason to stay in a company especially to small companies. In small business, new employees may be tempted to move a larger company or to a big corporation that may offer better benefits than what they are getting from their current employer. However, considering some other factors and having a great group insurance coverage including health insurance from the employer, great employees have more than enough reasons to stay in the company and won’t even think or consider to join to other bigger company. This will also attracts great new talents in the future.

Tax Benefits

Offering group health insurance coverage to employees results tax benefits both to employers and employees. Most of the time, all the expenses incurred for providing the insurance coverage would be 100% tax-deductible for the business. In addition, with legal paper works, employees’ contribution can be made on a pre-tax basis as well. The employer will be allowed to make employees’ contribution before paying them to avoid from dealing with any tax liabilities related to their contribution which is giving a higher net pay to employees.

In this article, we would like to give you an overview about what a small group insurance is, its importance to your employees, and why it is right for your company. Please allow few minutes of your time as we let you understand how a group insurance can be beneficial for you as an employer.

Your Business and Group Health Insurance

A group insurance is a type of insurance plan given to employees by their employers where the company pays it at a discounted rate. Discounts are given by the insurance provider since it comes in bulk or for a certain number of people, not individual. This also means that employees given with this type of insurance receive similar benefits and so the costs can be reduced and the application process is faster as well which will also get most people approved.

One of the advantages of getting the group health insurance is that you employees can cover their spouse, children, and other family member that they may want to include on their insurance. Plan coverage and premium rate also vary depending on the type of insurance plan a company has chosen for their employees. An employee may require to pay more than the basic premium rate if he or she wants to acquire more health insurance benefits or coverage, or if he or she wants to cover more members under his or her insurance plan which is beyond the number of people being covered by the company.

Benefits of Groups Health Insurance

The most advantageous part for employers of having a group insurance for his or her company is that i is more affordable compare to other type of insurance. Although employees have to pay some part of the cost of the insurance plan, however it would not affect their income that much since it is very affordable. This means that the company can take care of their employees’ health at very low price which gets an overall efficiency and high level performance from employees in return.

How to Get Insurance for Your Small Business

A company is considered as a small business if it has 50 full time employees or fewer. If you are a small business owner and interested to buy a group health insurance, then your option is SHOP (Small Business Health Options). This is the insurance program for small businesses. If you are not that familiar yet about this insurance, it is a good idea to get assistance from an insurance broker. Broker would be very helpful when it comes to getting all the insurance plan details you need and will help you in choosing the type of plan coverage that would be best for your employees and your business. They assess the needs of your business carefully and finds the best plan that works best for everybody. A good broker will let you understand why they choose that specific plan they are showing and won’t offer higher plan type that you think your business don’t need.

For most people, insurance plan is commonly heard and understood but not the group health insurance. As an employer, you won’t get interested in getting if you don’t have enough knowledge about it. However, knowing its advantages would be very helpful for you to decide in getting one for the future business success. 

 

 

Having a protection for your business plays a big part of your company work around. It is very important especially if you are running a business that has people working for you and if there are many risks that has to deal with while running your business. For an instance, consider the possibility that your people might get injured while they are performing their tasks. And it happened, their protection should be provided by the company. Business insurance is the way on how you can protect your employees and so your business. In this post, we’ll help you to better understand how important of a small group insurance for your business and how to get it to protect your employees.

A Business Group Health Insurance

A business group insurance is a type of insurance policy that employers can offer to their employees. This is well-known as employer-sponsored or job-based health insurance. Most of the time, this type of policy covers the employees’ dependents and benefits are also available as what the employee has.

Compare to an individual insurance acquired by an individual, small group health insurance is very much advantageous when it comes to paying for the premium. In this type of insurance, the employer and the employees divide the premium costs. A percentage rate is also included in the payment which the company should pay. After careful evaluation of the past healthcare cost for the group, premiums can or may increase.

Extending the risk among the members in the group is allowed in a group health insurance. This is the reason why insurance companies offer great discounts for this type of insurance.

The Importance of Having Group Health Insurance

The success of any business is directly affected by the performance of the employees within the business. For the business to be successful, employers have to make sure that employees are productive and protected. And the best way to get protection for your employees is in a form of group health insurance. This will let the company to give an opportunity to their employees to get complete protection at a very low price. If an employee gets injured while on duty, a medical attention will be provided right away having a health insurance coverage. Even if employees got sick outside their workplace or off duty, or as long as medical attention is needed, having the group health insurance is giving them security anytime and they are only paying it in a very affordable price.

How to Get Group Health Insurance

If you are now considering to get a group health insurance, the first thing that you need to know is how to know the right insurance provider for your company. For starter, you must find an insurance company who takes time to work with you to create a policy that fits your business.

Choosing the right company, coverage and all other aspects to consider in acquiring a group health insurance is not that easy. So a right insurance provider will take time to carefully look over your business to help you find the best protection that your employees need. Another way to get a good protection is to get a consultation from an insurance broker that is knowledgeable and offering you an affordable healthcare for your business.

Taking good care of your employees leads to a good result in a business. As an employer, ensuring your employees’ protection is considerably a good investment to make. Offering them the benefits of group health insurance is one way of protecting them. While they are working for you, this is one of the best options you can provide to them due to its reasonable cost and it is pretty much affordable compare to other kind of health insurances. This is why it is very important that employers should have enough knowledge of what a small group insurance is and how employees can benefit from it. In this post, we would like to provide you further understanding about how useful a small group insurance to your employees and the ease in getting this kind insurance for your employees.

 

Small Group Health Insurance

 

The health insurance benefits can be offered by employers to their employees through small group health insurance. If an individual employee were to get his or her own health insurance, it would cost him or her a lot compare to what employees are paying for their small group health insurance. Small group health insurance is much more affordable, this means a big help on their savings or earnings.

 

Providing affordable health insurance to employees will be advantageous on employer’s side as well. Once a health insurance is available, employees can take advantage of regular checkups that prevents illnesses in earlier time. Healthy employees are the one efficient and productive in your business. By now, if you are thinking about a long term effect to your business, you should have a better understanding how it is important a small group health insurance in protecting your employees and your business.

 

How Small Group Health Insurance Works

 

Insurance companies generally offer discounts to group health insurance since it is being offered for pool of people in a single contract. This means that involving a group of people on this insurance, the risk spread evenly and employees get equal benefits.

 

In addition, getting a health consultation from an affiliated doctor is more affordable than going to other doctor that is not included in the network and to pay on their own. This gives employees an enormous financial benefit that can only be given through a small group health insurance.

 

How to Get a Small Group Insurance

 

The first thing that has to be considered in searching the right insurance plan for your business is knowing what type protection your business needs. It is very highly recommended to get an assistance from a professional insurance company to obtain full knowledge about it. Thereafter, you may choose to purchase plans through:

• a private website
• a public SHOP online marketplace
• a licensed health insurance agent or broker

 

A Guide To Group Dental Insurance Plans

Most insurance plans you get usually protect against major illnesses and other unexpected things that happen in life. This coverage is good, but you need dental insurance to take care of your dental health. Dental insurance allows you can take control of your oral health.

The Definition Dental Health Insurance

With a dental health insurance plan, you won’t have to worry about expenses when you got for a dental checkup. Without having to worry about costs, it becomes easier to maintain your oral health. Oral health is just as important as your overall physical health, which dental insurance important.

Individual dental insurance can be expensive. However, this isn’t something you have to worry about when you opt for group dental insurance. A group dental insurance plan means you’ll pay a lower premium rate and gain the benefits of having this type of insurance.

Types of Group Dental Insurance Plans To Consider

By now you should be thinking about getting group dental insurance after knowing the benefits it offers. If this is the case, here are three main types for you to get.

Preferred Provider (PPO)

A dental PPO also functions identically to a medical insurance PPO in that the process of choosing a network of a group of doctors and groups of dentists is the same.

To get the most out of this type of insurance means you’ll have to get your oral health care done by a dentist included in the network you’ve chosen. If you still opt to use a dentist outside of your network, you’ll have to pay more money.

Dental HMO

A Dental Health Maintenance Organization (HMO) functions the way a PPO works in that it also features a network of dentists. The main difference with this type of plan is that you must use a dentist included in the system. Doing gives you the kind of coverage you need.

If you use a dentist that’s outside the network, you’ll have to pay for all the expenses yourself. This insurance is a good option when you need to have expensive dental procedures done as it will cost you less.

An Indemnity Plan

This type of insurance is designed for a person who wants to use a particular dentist that’s not a part of a network. The way this plan works is that a patient pays all the expenses up front and then reimbursed for some of the total cost.

If you would like to stick with the dentist that’s a part of a particular network, then this is not the type of plan you’ll want to use.

Conclusion

Dental health is important, and you must do everything that you can to take care of it. Individual dental health insurance can be expensive which is why you should opt to go for the group dental route. By getting group dental insurance, you get affordable dental health care provided by dentist included in your network. Get group dental insurance today and take care of your dental health for a lifetime.

 

The Benefits of Getting Group Health Insurance For Your Organization

Life is unpredictable, and many things happen that we just aren’t prepared for. If you own a business one of these things are the injury of your employees. The type of unpredictability we’ll be focusing on is health related problems of employees. To remedy this possible problem, one must offer group health insurance to their staff. Group Health Insurance helps to provide assistance if your employee ever needs medical attention. In this post, we’ll take a closer look at what group health insurance is, how it benefits your company and how you can provide this benefit to your employees.

What Is Group Health Insurance?

Group health insurance assists with providing health care coverage to a group of people. It helps to make healthcare affordable for the staff of a company. This type of coverage also provides many benefits for the employer and the employee. Group health insurance plans are one the biggest benefits a company can offer to their staff.

The Benefits of Group Health Insurance

Having group health insurance for your business offers many advantages. One of the biggest ones is making health care services affordable for employees. Healthcare could be expensive if an employee were to get it on their own. Fortunately, you can set up a group health care coverage within your organization and allow them and their families to access the best health services.

With healthcare being more available employees will feel better when it comes to having regular check ups. This is one of the biggest benefits for you the employer. When your employees feel better about getting regular checkups due to the affordability, it can help them to spot health problems from early. By detecting any health problems early, they can deal with them early and protect their health. All of this creates a more efficient workforce and improves the overall productivity of your business.

How Can You Get This Type of Insurance?

Getting this type of insurance begins with finding the right company. When looking for insurance, you want to work with an experienced insurance agent who’ll work with you to discuss the needs of your business.

A good insurance company helps you to find what type of protection your business needs and helps you to create the right group plan for your business. If you are serious about offering group protection to your employees, then you can also work with a broker to get the best deals.

Conclusion

To improve the overall productivity of any business one must ensure that the people working stay protected. Protecting your employees provides many benefits to your company. The way you’d go about protecting your employees is by offering group health insurance in your business. With group health insurance you give your employees the opportunity to have affordable healthcare.

Affordable healthcare means your employees won’t hesitate to get medical attention. Getting medical care from early may stop serious health issues which then results in less sick days. Less sick days helps to create an efficient workforce. Protect your business and get group health insurance for your employees

 

In the United States, the most popular employee benefits being provided by an employer to their employees is the group health insurance policy. This is the type of insurance that is much known to different types of companies like small businesses, large enterprise or even to corporations. The reason of this is the great benefits that the employer and their employees can get.

How a Group Insurance Beneficial to Americans?

Health insurance policies are usually being paid by both the employees and their employers into an equal payment on most companies in the U.S. This seems to be very advantageous for both employers and employees considering the benefits they are getting from having the group health insurance plans. Aside from this, because of the POP or the Premium Only Plans, insurance monthly payment falls under pre-tax. The employer’s contribution’s taxes are not being paid by their employees as well since these taxes are covered by POP and this makes these plans heavily subsidized in taxation.

Because of the affordable rates being offered to companies, group insurance plans is very beneficial for both employers and to their employees as well. Since group insurance is more about getting insurance coverage due to a common factor than a necessity, insurance companies are expected to offer better rates to Group Insurance Company compare to individual plans, and so this makes a win-win on the side of employers and employees as well.

Offering great benefits to best workers is one way of retaining in the company. Employers see their best workers as talents and assets to the company, this is why employee retention is a very important factor in a company that is always being taking care of. And that being said, employers are likely to offer great employees benefits to their best workers and perhaps it is proven as one of the most effective ways to retain best employees. This is also another way of attracting new talents to most companies. Above all these, having a group insurance plans results good outcome in productivity and employees morale and also prevents unplanned leaves.

Are All Such Policies the Same?

Are All Such Policies the Same? The answer is no technically. The main reason is that laws that governs the insurance policies varies and so its regulations. Moreover, there are different types of business depending on how large the business is which usually defined by the number of employees in a company. Small business owner compare to larger company employer has different capability when it comes to providing insurance coverage that is why laws has different regulations for different companies and premium tends to differ as well.

When Losing Access to the Group Insurance Coverage.

Some of the reasons why a person lose his or her access to insurance coverage plan are job loss, divorce and other similar reasons. However, considering thses types of reason, people could still keep their insurances in a certain period of time. This is one of the good reason why companies tends to offer group insurance plan to their employees which looks very beneficial for both employees and employers. Moreover, some can even extend their insurances as long as the group insurance is existing. Thanks to the federal Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). However, not all states can take advantage of this act but have better options that they can offer to their people.