Cranston Group Health Insurance & Employee Benefit Plans

Group Health Insurance and Employee Benefits

Running any business requires a careful balance between expenditure and income. Offering group health insurance is a company expense which, if not carefully handled can be detrimental to the company. This calls for employers to work closely with experienced insurance providers who will guide them through the process so as to make the right choices.

When carefully selected, group health insurance can cut the cost of recruitment and training, by having the best employees recruited and retained. Since the risk is spread among many employees, the premiums are cheaper. Your company will also enjoy tax relief since this is a taxable business expense. Additionally, your employees are motivated because the high cost of hospitalization is covered, and their general health is improved.

What to Look for in an Insurance Provider

The insurance provider that you choose to work with to purchase an insurance policy will determine the quality that you get. Some important things to consider when choosing an insurance provider include:

• Reputation – Research the company’s reputation to learn how long they have been in business, the products they sell, how they handle claims and customers and in which states they operate.
• Customer service – Work with a company that is available to answer your questions whenever you need them. They should have a customer service which is available to attend to you in a timely manner.
• Good business knowledge – A good insurance provider should understand the legal and financial aspects of their products and services and how any changes could affect the customer.

Benefits of Working with an Insurance Broker

If you want to purchase an insurance policy, consulting an insurance broker can be quite helpful. This is because:

• Brokers are trained professionals and will work with you to understand your requirements and needs.They have a wide range of products to choose from due to their network of insurers and they can access products which may not be available to you.
• A broker will act as an intermediary between the insurer and the insured and will do most of the paperwork. They will speak for you during claims to ensure a fast and proper compensation.