Group Health Insurance

Health plans for your business.

Group health insurance provided by Strickler Insurance.

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Group health insurance benefits are such a great benefit to provide your employees. Typically it is their number one priority. But that priority does not come without its costs for you as an employer. Contact Strickler Insurance to determine the best group health insurance for your business. We can create a custom plan that fits your large or small business.

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What Is Group Health Insurance?

Group health insurance is a benefit you can provide to your employees at your business. Essentially through their employment, you have a group of employees. By pooling together your employees as a group, group health insurance is provided at a more affordable cost. The larger the group, the more affordable the health insurance typically is. A business owner or organization is likely to provide this benefit to employees or team members.

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Employee Benefits

Group Health Insurance

Risk Factor

One of the main factors in attracting and retaining good employees is the benefit program offered by employers. This typically starts with your group health insurance plan.

Solution

Regardless of the company’s financials, there are ways to make health insurance available to your employees and their dependents. Offering health insurance doesn’t have to break the bank. There are many solutions available to small, mid-size, and large employers.

Group Life Insurance

Risk Factor

When employees are worried about their financial situation, they may not be as productive. Many individuals today do not have life insurance or adequate savings to cover final expenses, which places additional stress on employees and/or their families when the need arises.

Solution

A group life insurance plan can put your employees’ minds at ease, knowing their family will have resources available when they need them. Policies can also include a dependent benefit to help the employee pay for expenses if their dependent passes. Another solution is to offer a voluntary life benefit whereby the employee pays a lower premium through payroll deduction than they would if they found coverage on their own. Group life insurance is also tax deductible.

Disability

Risk Factor

Many employers are faced with offering lower wages than their competitors and find it difficult to find and retain qualified workers.

Solution

Offering a short-term and/or a long-term disability program can provide prospective and current workers with another form of financial stability. An employee may be offered a higher wage elsewhere, but are they offered protection if that paycheck stops due to pregnancy, illness, or other disability? How will they pay the mortgage or other bills? Employers offering a disability plan can provide peace of mind to their employees and gain an advantage over those that don’t.

Group Dental Coverage

Risk Factor

Failure to have regular dental checkups can lead to more serious problems than a toothache.

Solution

Offering dental coverage to your employees can help encourage them to see a dentist on a regular basis. Gum disease has been linked to heart disease as well as diabetes. Catching these issues early not only helps your employees’ health, it may help reduce your long-term health insurance costs before a big claim hits!

Vision Care Coverage

Risk Factor

Similar to dental coverage, if your employees are not getting regular eye exams, they may have underlying medical conditions such as heart disease or diabetes that can surface later at a greater expense to your medical plan.

Solution

Offering vision care coverage is a very affordable component to offering health benefits. It’s an inexpensive portion of the benefit package with a high value of return and can help offset the impact of increased medical costs, becoming a cost-effective, early intervention tool.

Voluntary Coverage

Risk Factor

Not being able to meet an employee’s individual needs can pose a threat to worker retention and attracting new talent, both of which can be costly to your bottom line.

Solution

Offering voluntary coverage lets your employees choose benefits that are important to them. It’s a cost-effective way to provide a variety of benefits at little or no impact to your monthly premiums. Examples of voluntary coverage include:

  • Critical illness, hospital indemnity, and cancer coverage.
  • Life, dependent life, short-term, and long-term disability coverage.
  • Dental care.
  • Vision care.

Compliance Audits

Risk Factor

Compliance audits are increasing and Department of Labor fines can be costly. Do you have all of the documents and paperwork at your fingertips should you receive an audit letter?

Solution

A good benefits broker will educate you on the compliance pieces so that you are prepared for that dreaded day. A wrap document covers most of what is required and the remaining forms should be readily accessible with proof of distribution to employees and/or eligible participants.

Why Do All Businesses Need Group Health Insurance

Health insurance is an expected benefit from an employer. By not providing health insurance, employees have less loyalty to your business and look at their personal health insurance cost as a burden you have imposed on them. It is viewed almost as essential as workmans’ compensation.

By providing health insurance to your employees they will see it as a benefit you are providing them and their family. Be sure to provide health insurance to your employees to lead a successful company.

How Much Does Group Health Insurance Cost?

Group health insurance benefit costs depend on a variety of factors. This is why health insurance plans can get complicated fast. Not all of your employees are at the same stages in life and might require different levels of coverage. Some might not need health coverage because they are still on their parent’s health insurance while others are in need of family insurance for their own kids. The factors that determine how much group health insurance costs are as follows:

  • The size of the group.
  • The location of your business.
  • The age of the people within your business.
  • The amount of health insurance coverage.
  • The different plans provided.
  • If you pay for it fully or have employees pay a certain amount.

 

What Does Group Health Insurance Cover?

The coverage within group health insurance plans can vary. You can get a plan that only provides individual health insurance, or you can provide family plans. The flexibility is great for both small and large businesses. Learn more when you contact us for a free quote.

Group Health Insurance For Small Businesses

Strickler Insurance recognizes that not all businesses are the same. That is why we are able to provide group health insurance for your small business. Our insurance professionals will work with you to determine the most effective health coverage for your employees as well as determining the 

Does Group Health Insurance Come With Tax Benefits For My Business?

As an employer, you can receive tax benefits from group health insurance. It simply depends on the state you are located in and the plan you provide your employees. This is a win-win in business. You provide your employees with health benefits while also receiving tax benefits.

Group Health Insurance For Self-Employed

If you are self-employed, the only way you can get group health insurance is if you get a group to partner with that insurance. A lot of freelance unions provide this type of insurance and function like a business that you pay into to get the health insurance benefits. If you are looking to start an organization like this, contact us to learn about the benefits we can provide. If you are an individual it might be better for you to look into personal medicare insurance.

What About The Affordable Care Act (Medicare)

Medicare or the Affordable Care Act does not impact your business’s group health insurance. Group health insurance is much more affordable than medicare and typically provides better coverage. While you can avoid providing health insurance for your employees by directing them to use Medicare, you will probably have higher employee turnover. By providing the best group health insurance to your employees you will keep them and be able to operate your business effectively.

Get Group Health Insurance Benefits For Your Business

At Strickler Insurance we seek to provide the best health insurance benefits. We know how much it can help a business grow because we also provide group health insurance to our employees in Lebanon, PA. We work with businesses in New Jersey, New York, Maryland, Delaware, and Virginia. Contact us for a free insurance quote!

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