Group health insurance is a great way for businesses to attract the best talent and employees, while also providing families across the country with a valuable resource. Even with the government mandate and the health insurance marketplace, insurance can still be too costly for some individuals. By working with group health brokers to find the best coverage plans for your employees, your company creates access to affordable health care. A group plan provides excellent coverage opportunities but at rates that are spread out across the group policy.
The insurance you will need varies by the number of employees you have and your budget. However, there are several different kinds that could be suitable:
- Traditional plans
- Health Maintenance Organizations
- Preferred Provider Organizations
- Consumer-directed Health Plans
Requirements for Coverage
If your business is smaller than 50 employees, you aren’t required to provide health insurance coverage, but you aren’t doing yourself any favors by failing to offer it. You may consider a plan too expensive, but the right broker can find a policy that fits your budget and employment needs. Potential applicants look for those benefits, so it is a good investment to make if you want low turnover and a more productive work environment. As the experts at www.isurepro.com have found, many prospective employees are willing to take less of a salary if there are good benefits associated with the position.