Starting today, you will decide which commercial insurance company will protect your workforce’s health, morale, and productivity by covering their medical expenses. This health insurance company is your group carrier. For successful research, please know that the terms carrier and insurance company are interchangeable.
A group health plan is an insurance policy taking on the liability of medical expenses for your employees and their dependents. Take charge and find the right carrier for your group’s health insurance plan.
To achieve the goal of finding the right carrier, you must know basic insurance terminology before deciding where to purchase your group health coverage.
First, your employees and their dependents are a group – they are your company’s workforce.
Second, don’t confuse provider with the carrier.
Your choice of an insurer will determine premium cost based on risk factors such as the average age and health of your workers.
Why are your employees are likely to stay because they appreciate their health plan?
A group insurance plan that is flexible will meet your workers’ individual health needs. When a carrier meets your employee needs, it sends out a signal to the workforce that your organization is optimum worker retention and future recruiting employer.
A recent AHIP survey cited by SHRM reports:
A group health insurance plan can make your company a pioneer in your industry by encompassing innovation that will work for your employees’ unique needs. Keep your workforce healthy and productive.
A 50 percent increase over the last year has shown that 96 percent of companies offer telehealth, tele-behavioral, and virtual health services to manage chronic diseases and mental health counseling.
Workforce productivity increases naturally when employers listen and meet the whole health needs of their employees.
Here are a few in person strategies that are innovative.
Many qualified candidates and loyal employees desire coverage for their whole health.
Whole health is not a fad – it’s a common-sense personal care strategy that meets your employees’ goals, needs, and core values. This includes a consideration of holistic wellness. Avenues to whole health are appreciated by employees and prospective candidates when covered by your group health insurance plan.
Providing employee group coverage is the most cost-effective means of hiring and retaining employees who are motivated to outperform your competitors.
Because employee recruitment efforts cost time and money, your business will have an advantage over many competitors’ profitability.
Your goal in purchasing group coverage for the benefit of your employees as a strategy to lower hiring costs should include:
Group health insurance is what unites and binds a workforce. When you offer a group health plan, your business will be set above and beyond the competition in today’s challenging job market.
Beginning to search for a group health plan is as simple as a brief survey from your employees. You just need to identify and analyze your employees’ whole health by asking them about their specific needs. Do they need vision, dental, or a specialist? This survey information will compile a path to the right carrier for your group’s healthcare insurance plan.
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