Mount Washington Group Health Insurance & Employee Benefit Plans

Group Health Insurance and Employee Benefits

Group health insurance is a voluntary employee benefit which is not required by law; it is provided to employees of a company and their dependents or an employee union to its participants. By providing these benefits, the employer gains in various ways. You are in a position to attract top talent since you are viewed favorably by those seeking employment.  When you retain the best employees, you are in a position to train your own experts for the benefit of your business. Moreover, there is reduced absenteeism as a result of a healthier workforce which boosts productivity among your employees. The insurer feels safe when providing group health insurance since the risk is spread among many participants and will offer the premiums at a lower cost.

What to Look for in an Insurance Provider

Health insurance is quite complicated, and with the numerous companies providing these services, it can be quite a challenge to choose the best insurance provider for your needs. Here is an easy way to evaluate the insurance provider to work with:

• Licensing – As a general rule, buy an insurance policy from an insurance provider who is licensed to operate in your state. This will enable you to get help from your state’s insurance department when you run into trouble.
• Financial solidity – Since an insurance provider is supposed to protect your finances, select one who is financially sound and is likely to remain so for a long time.
• Pricing – Shop around and compare prices from different insurance providers to make sure you are getting affordable prices, since prices vary from one insurance provider to another.

Benefits of Working with an Insurance Broker

Insurance brokers ensure that you get the best insurance policies available. They do the shopping for you and handle the entire process, freeing up your time to focus on other important matters. Some benefits of a broker include:

• Insurance brokers provides independent and unbiased advice since they have a wide network of insurers that they work with. They focus on the client to offer the best insurance policy.
• They are experts in the insurance industry and will help you make the best-informed decisions when choosing an insurance cover by interpreting the insurance jargon to make sure you understand what is covered and what is not.
• They are flexible in their service and will communicate through the method you are comfortable with like face-to-face conversations, online, social media, phone calls and text messages.