Plainfield Group Health Insurance & Employee Benefit Plans

Group Health Insurance and Employee Benefits

Providing group health insurance is a voluntary venture by the employer and it offers many benefits to both the employer and the employees. To the employer, it will guarantee a successful business by being able to recruit and retain the best employees, a major asset to any business. This reduces the cost of frequent recruitment because there is reduced employee turnover. By addressing your employees’ healthcare needs, you will boost their morale and they will be more dedicated to their work. They will also identify more with your business and this creates loyalty. Additionally, reduced absenteeism will ensure increased productivity. The employees also enjoy a tax advantage since premiums are deducted from their salary which reduces their taxable income.

What to Look for in an Insurance Provider

When choosing an insurance provider, conduct some research so as to choose the best provider for your needs. Some factors to consider include:

• The company’s reputation – Before committing to any insurance provider conduct some background research to understand its reputation. Choose one with positive reviews and good ratings.
• Locality – Choose a company with a physical location in your locality so that you can have a place to go to in case of a problem.
• Legal accreditation – A fully certified company with all the required accreditation is better to work with because they will stick to rules, regulations and guidelines.
• Suitability of products – Ensure that the company you choose offers products that are suitable for your unique needs.

Benefits of Working with an Insurance Broker

You can decide to work with an independent insurance broker to buy your insurance policy. They have many advantages, some of which are outlined below.

• Brokers work with many insurers and have access to a variety of insurance plans, which they will compare to choose the best plan for your needs.
• They are experts who are well trained to understand your needs. They will work with you to offer the most suitable plans for your specific needs. They are qualified to give unbiased advice on all matters insurance so that you can make an informed decision.
• Working with insurance brokers is cheaper because they are open about their commissions and the fees they charge and there will be no hidden cost.