Moore Group Health Insurance & Employee Benefit Plans

Moore Group Health Insurance and Employee Benefits Plans

Apart from elderly citizens, most people in the United States receive their health insurance from their employers. Most employers are faced with the challenge of offering group health insurance because of many barriers such as high prices and lack of motivation. Moore, located in Cleveland County, Oklahoma, has experienced several tornadoes in the past. Even with businesses thriving in the growing city, there are still certain health measures employers should take to strengthen their workforce in terms of health. 

Group Health Insurance and Employee Benefits

Even though a few measures have been put in place to motivate employers to offer group health insurance to both small & large groups, its benefits cannot be overlooked. First, you will gain a competitive advantage by being able to attract more qualified job applicants who will remain in your company because of the employee benefits. Employees are also most likely to take a lower salary when there is group health insurance provided, which reduces your operating costs. In addition, you gain a tax advantage because this is considered a business expense. As an employer offering group health insurance, you command cheaper premium rates. This is made possible by the fact that the risk is spread among a larger group of people which ensures that the cost is lower.

What to Look for in an Insurance Provider

Outlined below are some of the main points to keep in mind when selecting an insurance provider, so as to pick one who is able to meet your needs:

• Licensing – As a general rule, choose a company that is licensed to operate in your state. You can find this information in your state’s insurance department.
• Price – Every insurance provider offers different rates for their insurance products, therefore shop around before making any commitment. Different policies also have different charges therefore ensure you get different quotes and compare.
• Service – Talk to existing customers of the insurance provider you want to use, so as to understand their level of service. You should have your questions properly answered and your claims handled efficiently and quickly.
• Financial stability – The financial stability of an insurance provider is quite important. Choose a company that is likely to be financially stable for many years.

Benefits of Working with an Insurance Broker

Most insurance providers offer generic insurance products and distinguishing them from those who will offer insurance products according to your needs can be quite difficult. Involving an insurance broker will help you to do this and more. Here are some advantages of using an insurance broker:

• Expert Guidance– Insurance brokers give you expert guidance without charging more for their services. They get a commission from insurers and their premiums are given at different rates to keep their costs low.
• Different Products– Brokers will offer you options to choose from. They have access to a wide variety of products and will guide you through them so that you can choose the most appropriate cover.