Covering your employees for their health needs is very important as a business, but it can be hard to navigate through the insurance system. Insurance plans vary a lot, and it’s crucial to provide coverage as required, not only because your business might be in trouble for not doing so, but for retaining employees and having them benefit from the health coverage they need.
Almost 50% of Americans have group insurance plans provided by their employers. Employees are often not fully aware of what’s included in their plan, or how to use it. At times, things are unclear for employers as well.
We will discuss group health insurance, how it can give your company a competitive advantage and how we at Taylor Benefits Insurance Agency can help you choose the best plan.
Group health insurance plans are created for companies with at least one employee, offering them a more affordable health plan. Employee premiums are lower than individual premiums paid by the employee separately when they are not provided with a plan by their employer.
Employee premiums are paid before the taxes are calculated, helping your workers pay fewer taxes over the year. Depending on your group health insurance plan, the insurance company might co-pay medical costs, or cover the entire cost once a certain amount is paid in premiums.
Most group health plans do not cover vision and dental. Companies are not required to do so. The purpose of group health insurance is to cover basic health needs. Vision or dental services classify as optional for working adults. Usually, these types of coverage are considered extra perks and get left out for financial reasons.
Dental and vision are not normally covered by the basic group insurance, because their risks are considered lower, yet have a higher incidence rate than issues related to general medicine. However, dentistry should be included in a health insurance plan, as many dentists declare how patients come into the ER with dental-related problems every year.
Vision, as well, is considered an optional type of coverage in the insurance world, since needing glasses does not pose a high risk for your health.
Objectively, covering dental and vision through the group health insurance plan you choose is going to give your employees a great advantage and a much stronger sense of security.
As vision and dental are so often considered “perks” on a group insurance health plan, including them in yours will certainly give you a competitive advantage over other companies. While vision and dental do bring higher costs each month, you have to consider these costs while seeing the advantages they bring.
Giving your employees vision and dental coverage should be considered an investment. Studies show that employees are highly motivated by the value of a good health plan. It will help you have a higher retaining rate, and it will make your employees happier.
Happy employees that are willing to work for you in the long term will bring you more revenue, a better reputation and your investment in a comprehensive group health insurance plan will be returned quite quickly.
If you need help selecting the group insurance plan that advantages you and your employees the most, seek expert advice from Taylor Benefits Insurance Agency. We are insurance broker agents, which means we represent several insurance companies and have a wide option range to choose from. It allows us to be more flexible and tailor the insurance plan we propose to the specific needs you have.
Contact us and we will start looking for group insurance plans for your company, present the best options and help you choose an affordable, practical, and well-negotiated option. We keep our good reputation by thoroughly following up on every health plan we propose, managing insurance plans for our clients, and helping them choose the most competitive option at the time of each renewal.
Taylor Benefits Insurance Agency serves clients from all over the United States. Join us!
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