Using our independent agency, you can compare group health insurance coverage plans in Ohio from several different carriers. We offer both fully-funded and self-insured group health plans, dental, vision, life, disability insurance, Medicare coverage and long term care plans.
Benefits can be offered to all employees in full, partially or on a voluntary basis. Our independent agency works with several carriers offering group plans and can help you compare the direct rates with each.
Providing group health insurance is a primary concern for most businesses. We quote several carriers to help our group clients keep their premiums low now and in the future. Our providers include Aetna, Anthem Blue Cross Blue Shield, Humana, Medical Mutual of Ohio, United Healthcare and several others.
We offer HSA, HRA and traditional medical coverage to companies of all sizes. Life, dental and vision coverage can be added to any of our plans – or offered as a voluntary benefits package. We work diligently with underwriters each year to keep ongoing premiums stable .
We are not compensated based on premiums collected with almost all group health insurance policies. Rather, we are paid based on enrolled members. This is why we negotiate constantly with underwriters to reduce the group’s risk factor in order to maintain affordable rates.
It’s beneficial to work with an agency that works with many carriers in order to keep your premiums affordable. We can talk with providers at once in order to find the very best rates for you and your employees.
The Affordable Care Act will require all companies with 100 or more full-time employees (or full-time equivalents) to offer comprehensive health insurance coverage or face a tax penalty in 2015.
Group insurance plans must offer a so-called minimum value to the employee while also being deemed affordable. To meet these respective standards, the coverage must pay at least 60% of the cost of services and the employees cannot pay more than 9.5% of his or her household income for the insurance.
Failure to offer minimum value/affordable insurance will result in a $2000 per member tax penalty assessed by the I.R.S. The penalty does not apply to the first 30 employees of any group, but everyone over that threshold. Penalties can vary depending on whether two or more employees would qualify for subsidized coverage on the health exchanges.
An employee will be considered full-time if s/he works 30 or more hours per week or 120 hours a month. As of February 2012, the government is now keeping track or employer groups in order to know which ones are required to abide by the mandate.
To reduce costs, employers may prefer to offer life insurance, disability coverage, dental and vision plans as well as other group benefits on a voluntary basis.
We work with several providers to quote voluntary benefits and can deliver several packages for employees to choose from.
In most cases a minimum amount of participation will be needed from full time employees. This is easier with larger groups, but with groups under ten employees, most carriers will require a predetermined participation quota.
Moving employees over the age of 65 to traditional Medicare and providing group Medicare supplement coverage is a cost efficient way to lower health costs. List billing can be setup to deduct all or a portion of the premium from the employee’s wages if the company does not wish to pay for the coverage in full.
A few Medicare supplement insurance providers are offering group rates as they understand the need for corporations to lower benefit expenditures. However, the majority of policies are still sold on an individual basis. We can help setup an exchange where employees can shop for the coverage that fits their needs.
We work with several insurance companies to provide group insurance to our small and large business clients. Whether you need to be compliant with the Affordable Care Act or what to offer your employees more robust benefits, we can help.