Lake Station Group Health Insurance & Employee Benefit Plans

In the United States, the body that protects contributors and beneficiaries of employee benefits plans in the private sector, which is the main player, is the Employee Retirement Income Security Act (ERISA). The city of Lake Station is located in Lake County, Indiana, with a population of about 12,000.

Group Health Insurance and Employee Benefits

Group health insurance is one of the main benefits of employment, which many employees value more than a high salary. Employees’ medical expenses are paid for which saves on their income. As an employer you will be in a position to recruit and retain the most hardworking and knowledgeable employees which puts you at a competitive position. You will generally have a healthier workforce which ensures reduced absenteeism in turn boosting productivity.  There is reduced employee turnover which reduces the cost of recruitment.

Additionally, you will have a content workforce because it shows that you care about their welfare. This promotes a feeling of belonging and promotes the employee/employer relationship. Moreover, the premiums paid for health insurance are considered as business expenses which are tax deductible, therefore you enjoy a tax advantage.

What to Look for in an Insurance Provider

As a customer, it is good to analyze your needs and understand them, then look for an insurance provider who will satisfy your specific needs. Consider the following qualities so as to choose the best provider.

• Financial stability – The financial health of insurance provider is very important. You do not want to lose your investment therefore choose a company that is likely to remain stable for a long time.
• State license – Check to ensure that they are licensed by your state to operate in it and to trade in the products you are interested in.
• Reputation – To understand its reputation, look for the ratings of the company compared to similar providers.
• Claim handling – Ensure that their claim process is transparent and that they do not reject filed claims. They should be able to handle claims satisfactorily.

Benefits of Working with an Insurance Broker

Insurance brokers are very helpful when it comes to the purchase of insurance plans. Some of the top reasons why you should engage an insurance broker are explained below.

• Insurance brokers offer expert advice on all insurance matters. They will use their experience to ensure that they understand your needs and goals then offer products most suitable for you.
• They offer personalized services and will help you understand the details of an insurance policy, including the exception clauses, terms and conditions.
• Since they are independent of any insurers products, they make comparisons from the many providers that they are in contact with to make the best selection for you.