Mount Vernon Group Health Insurance & Employee Benefit Plans

Group Health Insurance and Employee Benefits

Group health insurance is an employee benefit which is critical to both large and small businesses. Even though most employers will consider the initial cost, it is quite beneficial in the long run. It will help your businesses thrive because you will recruit the best employees in the industry and retain them. This makes you competitive and an employer of choice in your industry.

Additionally, you stand to gain a tax advantage since premiums for health insurance are a business expenses which is taxable.  Since all employees get a uniform cover, there is a mutual feeling of belonging to a community among your employees which makes them identify more with your company. Due to the improved general health of your workforce, productivity is improved.

What to Look for in an Insurance Provider

Take your time to investigate an insurance provider before making a decision since there are so many insurance providers in the market. Some factors to consider in selecting the best provider include:

• Business sense – A good insurance provider should have a good knowledge of the insurance industry. They should be aware of the reforms happening and how they affect the customer.
• Financial stability – The financial stability of an insurance provider is very crucial. Ensure that they can meet their long-term financial obligation.
• Customer service – Good customer service should be in place through different mediums of communication. They should be available to answer your queries promptly, whenever you need them to.

Benefits of Working with an Insurance Broker

Insurance brokers are very helpful to customers therefore deciding to work with them for your insurance plan is a good decision. Some of the benefits of using an insurance broker include:

• Their expertise enables them to analyze your needs and requirements and understand your lifestyle, then craft an insurance plan that best suits you.
• They are proactive and they make sure you have a client manager who will deal with you once you make the initial contact.
• They are governed by a code of ethics which ensures that your discussions and details remain private and confidential.  
• A broker is independent of any insurer and will compare different options from the different insurers they are in contact with, to come up with the best insurance cover for you.