United Group Health Insurance | For Large Groups

Saturday, April 6, 2024 16:22 Posted by Admin

Based in Minnetonka, Minnesota, United Health Group is the second-largest healthcare company by revenue and the largest insurance company by net premiums. UnitedHealthcare is their health benefits business, encompassing 80% of the company’s total revenue. In the United States, UnitedHealthcare provides health benefits programs to people of all ages and lifestyles, including employers, individuals, and also Medicare and Medicaid recipients.

They work with over 1.3 million physicians and health care professionals, and around 6,500 hospitals and other facilities across the country. With these professionals, United is committed to helping people live their healthiest lives and ensuring that the health system benefits everyone. They strive to make a difference by supporting those who are uninsured and underserved.

When it comes to your business, it is crucial that you choose effective, high-quality group health insurance coverage that prioritizes care for your employees and balances costs. With that said, let’s take a deeper look at what UnitedHealthcare can offer you when it comes to group health insurance plans.

What is Group Health Insurance?

As the name suggests, a group health insurance plan provides coverage to the members of a group. In most cases, these groups are comprised of a company’s employees or the members of an association. The plans give coverage to the members as well as their immediate family and dependents, as desired.

Group health members typically get coverage at a lower rate, as the insurer’s risk is distributed across a number of policyholders. This is, arguably, one of the greatest benefits of group health insurance. From the employer’s perspective, they benefit from taking care of all their employee’s health needs in a single convenient, affordable plan. Though, in order for a group health insurance plan to be valid, a minimum of 70% participation by group members is required.

Advantages of Group Health Insurance for Your Business

Of all the benefits that you can offer through your business, health insurance rules them all. It is estimated that about 85 percent of the American population have some type of health insurance and roughly half of them get it through either their employer or their spouse’s employer. Here are just a few of the many advantages to offering health insurance to your employees:

  1. Boosts productivity & morale.

According to the CDC, when employees prioritize their health –including getting routine checkups – they get more accomplished in the workplace. In other words, when your employees are healthy, they are more productive. That’s all there is to it. As an employer, it’s important for your employees to be concentrated on being the most productive and successful version of themselves.

When your employees are fixated on health insurance, it will consume their time and energy. Not only is health insurance difficult to set up, if your employees have individual health plans, they have to manage everything on their own. By offering group health insurance, your employees are more likely to remain focused on their work and morale is generally increased.

  1. Attracts top talent.

It’s been proven that companies that offer health insurance as part of their benefits package attract higher-quality applicants than those who do not. For most people, health benefits are a top priority when choosing a place of work. This means that it should also be a top priority for you, as their employer. Offering it will not only assist the recruiting process, but it will also help with retention.

  1. Tax advantages.

Both employers and employees will enjoy reduced insurance costs when purchased as a group. When employees buy and individual health plan, they must use post-tax dollars. However, if they purchase health coverage through a group plan, they are able to do so with pre-tax dollars. This can save your employees between 30 and 45% on their premiums.

From the employer’s perspective, the following are the tax savings you can expect when you offer group health insurance to your employees:

  • All employer contributions are tax-deductible.
  • Cheaper employer workers compensation premiums.
  • Payroll taxes paid by the employer are cut by 7.65% of employee contributions.

Since you don’t pay payroll taxes and workers compensation premiums on any funds that are put towards health benefits, you can save money by simply offering health benefits instead of increased salaries. In fact, studies suggest that about 80% of workers prefer benefits over a potential pay increase.

United Group Health Insurance Plans

When you choose UnitedHealthcare for your group health insurance, both you and your employees will receive the necessary solutions to manage their medical needs appropriately. However, it’s important to note that every business is unique and there is no one-size-fits-all health plan. United will work with you to understand your budget, goals, and needs. Then, they will craft a coverage package that meets them.

UnitedHealthcare provides group health insurance for large and small businesses alike, to provide a better experience to both employees and employers. Here’s a taste of what you can expect from United:

  • Small business insurance plans – group health insurance for companies that have 100 employees or less. They offer a wide array of options that are designed to help you prioritize your employees’ health and wellbeing, while saving money in the process.
  • Large business insurance plans – designed for companies that have 101 to 2,999 employees. They offer group plans that help your business save money, retain and recruit top talent, and maintain employee productivity overall.
  • National account – the National Accounts team at United are committed to supporting businesses that have 3,000+ employees.
  • Dental insurance plans – group dental insurance plans for companies of virtually any size to fit your unique needs. Coverage includes oral health inspections, general preventative care, orthodontic care, and much more.
  • Vision insurance plans – UnitedHealthcare’s vision program comes with superb eye care benefits, including coverage on prescription glasses and frames, contact lenses, eye exams, and vision screenings.
  • Self-employed health insurance – are you the only employee at your company? United has you covered.
  • Group life insurance plans – coverage that helps your employees financially prepare for a death by paying a cash benefit.
  • Disability & absence management – coverage for when employees need time away from work to handle crucial life events and responsibilities, including jury duty, military leave, a planned pregnancy, unplanned leave for medical conditions, time away to take care of a loved one, and more.

Offering Group Health Insurance is Easier Than You Think

If you take anything away from this article it should be that you do not have to go at this alone. While the process of finding the ideal group health insurance plan for your employees may seem daunting, a health insurance broker can guide you through every crucial step. They will:

  • Help choose the right plan for both you and your team, based on your industry, needs, and employee’s preferences.
  • Set up your coverage and ensure that you remain compliant.
  • Be the healthcare go-to for all your employees. That way, you don’t have to answer all the difficult health insurance questions.

More questions about group health insurance and what plans UnitedHealthcare can offer you and your employees? We can help!

Whether you are located in California’s Bay Area or anywhere else in the country, the professional health insurance brokers at Taylor Benefits Insurance Agency will illuminate your plan options, break down all the little details, and help you choose the ideal UnitedHealthcare group health insurance plan for your company.

So, what are you waiting for? Don’t hesitate – contact us now to get the process started.  

Written by Todd Taylor

Todd Taylor

Todd Taylor oversees most of the marketing and client administration for the agency with help of an incredible team. Todd is a seasoned benefits insurance broker with over 35 years of industry experience. As the Founder and CEO of Taylor Benefits Insurance Agency, Inc., he provides strategic consultations and high-quality support to ensure his clients’ competitive position in the market.

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