Georgetown Group Health Insurance & Employee Benefit Plans

Georgetown is named in honor of President George Washington. It is home to the first wholly owned United States plant, Toyota Motor Manufacturing Kentucky.  It has multi-employers and this calls for them to embrace group health insurance for a healthy workforce which is dedicated to their work, positioning them competitively in the market.

Group Health Insurance and Employee Benefits

Providing group health insurance has been practiced for many years but still its complexities are not fully understood, especially when provided for the first time. The health insurance arena is constantly changing which leaves employers at a crossroads on the right insurance coverage to offer and the affordability. However, if you work with a reputable insurance provider, you will be in a position to get custom-made insurance plans that will take care of your business and employees’ needs. You will also get them at cheaper rates because as a group, the risk is spread among the participants. Additionally, insurance premiums are tax deductible and your business enjoys tax breaks.There is also increased productivity among the employees due to the wellness and preventive cover which promotes a healthy workforce.

What to Look for in an Insurance Provider

Getting a good insurance provider that will meet your specific needs can be a challenge. However, there are some factors to consider in choosing the best provider. They include:

• Longevity - The longer the company has been in business, the better. They understand the insurance industry well and are in a good position to meet their financial obligations.
• Financial health - Check the financial health of a company by checking their ratings. This will ensure that you are investing in a company that can meet their long-term financial obligations.
• Rates - Insurance policies are as varied as there are insurance providers, therefore compare the prices. You can get this information from your state’s insurance department.

Benefits of Working with an Insurance Broker

The advantages of using an insurance broker to purchase an insurance coverage are quite many. They include:

• Brokers are trained experts who will answer all your queries expertly to ensure that you make a well-informed decision. They are trained to understand your needs and provide the most suitable insurance cover for those needs.
• Insurance brokers are independent and they will compare products from different companies to choose the best insurance plan for you.
• Insurance brokers follow a code of ethics which requires them to maintain a client’s privacy and confidentiality, which means your privacy is assured.
• An insurance broker will help you understand the terms and conditions of an insurance policy, the dos and don’ts as well as what is covered and what is not.