With the passage of the Patient Protection and Affordable Care Act in 2010, providing employees with health insurance has become increasingly more complicated. However, with medical insurance being a pillar with regard to employee benefits, its importance has not diminished.
The agents of Purdum Gray Ingledue Beck, Inc. spend countless hours studying the impact of the law on employers and are focused on keeping clients compliant while maximizing the benefit of offering health insurance.
Deciding what to offer depends on multiple factors. It is important to offer a plan that contains benefits the employees will appreciate without breaking the budget. Key factors to consider when comparing your options are:
- Type of Plan
- Preferred Provider Organization (PPO)
- Health Maintenance Organization (HMO)
- Point of Service (POS)
- Health Savings Account (HSA)
- Health Reimbursement Account (HRA)
- Network of Providers
- Deductible (If applicable)
- Out of pocket expense
- Co-pays and co-insurance
- Cost share with employees
- Insurance company reliability
- Other items relevant to your goals
Not offering this benefit can be much more expensive for your business than offering it. Healthy employees make productive workers.
Not sure about how to go about finding and selecting the best option? We provide information making sense of the evolving world of group medical insurance.
After an appointment with us you will understand how the range plans vary and be able to choose the option best suited for your business. Please contact us for more information.