Menu
What Is Group Health Insurance And What Does It Include?
As an employer in today’s business world, Bethany Insurance Agency knows how important it is to provide health insurance to the most valuable asset of your business – your employees. By providing each employee with a plan that meets his or her expectations, it can help your business lower turnover rates and keep a staff that’s healthy, happy, and insured with peace of mind.
At Bethany Insurance Agency, we’re proud to offer a variety of group health insurance plans for small to mid-sized businesses – from Fee-for-Service (FFS) plans to various managed care plans including Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), and Point-of Service (POS). We will work closely with you to set up a benefits structure that aligns features based on your unique business needs.
Benefit packages can include coverage for medical, dental, and vision. Our health insurance specialists will work with you one-on-one to develop a group plan that’s not only affordable but complements your business’s needs.
How does my business benefit by adding group health insurance?
Lower premiums – Group plans tend to be cheaper on average than individual plans.
Tax incentives – Businesses can deduct the cost of premiums from their federal business taxes, and some small businesses may qualify for a tax credit.
Employee Relations – A robust benefits package can attract and retain employees, foster higher productivity, increase job satisfaction, and promote a healthier company culture.
Pre-tax benefit for employees – Another benefit of providing group health insurance is that employees may opt to use pre-tax salary to pay for the premiums, lowering their income tax liability.
Place health coverage within reach of your employees – Offering benefits makes medical coverage more accessible and affordable for your employees.
Group Medical Plans
The Affordable Care Act has made healthcare much easier for businesses to offer and employees to attain by increasing access and stabilizing healthcare costs. Not every single small business is legally required to offer health insurance. According to the Affordable Care Act’s Shared Responsibility Provision, businesses with 50 or more full-time employees have a legal obligation to offer health benefits.
Studies show that a competitive benefits package can significantly affect the company’s success in attracting and retaining employees. Having the right healthcare options will not only help you attract the right talent but also RETAIN the right talent. A study by AHIP found that 75% of employees reported the coverage their job provided had an impact on their decision to accept their job, and 78% reported it had an impact on their decision to stay at their current job.
Because of the complexity of health care benefits, it is essential for business owners to continually research for the best available options for their employees. Bethany has the expertise to find the best plan tailored to your specific needs, so you can focus on what you do best – grow your business.
Group dental Plans
Help your employees stay smiling, healthy, happy, and productive with affordable dental plan options. Dental benefits are highly sought after and valued by employees. Moreover, dental benefits can actually help your business save money through routine dental care and fewer claims for major treatment — resulting in lower premiums for employers.
Group Dental insurance can be offered as a traditional plan, where employees can choose their own dentist and receive more flexibility and higher coverage levels for dental work. Or, an employer can opt for a preferred provider plan (PPO), a prevention and minor-restorative plan, or a dental health maintenance organization (DHMO) plan. Bethany will help you examine all your dental benefit options to offer various plans that best suit the needs of your business and employees.
Group Vision Plans
When your employees aren’t seeing their best, they are not doing their best. By offering vision benefits, you can help employees get regular eye exams and corrective lenses or contacts that allow them to see clearly and maintain productivity. Providing your employees a comprehensive vision plan not only helps them save money but also helps your business save money by providing another channel to detect certain chronic diseases early and reduce absenteeism.
Bethany will help you examine all your vision plan options to find the right plan that best suits your needs.
The Bethany Approach
At Bethany, our role is to ensure that your company delivers an excellent Employee Health Benefits program that is relevant, tailored to suit, and provides superior products and services. We realize that benefits aren’t one-size-fits-all, and we’re here to help. By taking the time to understand your current employee health benefit needs, inside and out, we take a customized approach to filling gaps in your employee health benefits package.
We Listen: In developing your health benefits program, we take the time to understand your business; the environment in which you operate, your employee demographic and the objectives you wish to achieve. We then collate this information and discuss it with you before taking the next step.
We Develop: Once we understand your needs, we develop your health benefits program. We search for the best products and services to feature in your program and make sure your health benefits comply with all relevant provisions of the Affordable Care Act.
We Deliver: To ensure your Health Benefits program is successful, we help you launch, monitor, and maintain your Employee Health Benefits program. Through our benefits partners, your employees are provided an online information portal that gives your employees access to everything they need to know about the benefits.
We Support: The professionals at Bethany Insurance will be with you every step of the way as we build and launch your Employee Health Benefits program. The benefits enrollment process can be complicated each year – both for your business and your employees. We work closely with you to increase overall employee participation and support the open enrollment process for your business no matter how small the size. We work with your business to share information with your employees through different methods, including videoconferencing and in-person meetings. We are here to provide expert advice and be your point of contact for superior Employee Health Benefits administration.
More Products
Menu
Request a Quote
Simply fill out the form below and one of our helpful agents will contact you shortly to discuss your options.