Group Health & Benefits

Health Insurance is a broad term that includes coverage for medical protection, disability,                accidents and sickness, as well as dental, vision, and other related benefits. Policy language      tends to vary from state to state depending on local and federal mandates. Most business          owners require a human resources department or independent consultant to understand all        the provisions included in a health care policy. You may want to learn and discuss your                policy terms or options such as deductibles, co-pays, coinsurance, cost containment                  features, and exclusions. Understanding how these provisions affect you and your                        employees is an important part of your role as an business owner, but can often be                      complicated and difficult to explain to an entire workforce.

An increase in health care costs has lead many employers to seek out tax advantaged                    strategies such as Flexible Spending Accounts (FSA’s), Health Reimbursement                            Arrangements (HRA’s), and Health Savings Accounts (HSA’s). Our specialists can explain          how these type of accounts work, and implement them to provide tax advantaged funding for      health related expenses.

Do you know if your plan is an HMO, PPO, POS or traditional plan? There are major differences      between how these types of policies work, and even though some may appear less                      expensive in the short term, the least expensive option may have gaps that leave you and            your employees exposed to large out-of-pocket expenses. Picking the right “system of                delivery” requires a general understanding of how your employees use their coverage.                Selecting the most appropriate plan typically requires a specialist who can match your                workforces needs with the most suitable master contract.