Waverly Group Health Insurance & Employee Benefit Plans

Group Health Insurance and Employee Benefits

With employee benefits being one of the largest business expenses, employers must strike a balance between its cost and a healthy bottom line. It is highly recommended that you engage a reputable insurance provider to help you navigate through the process for comprehensive coverage and competitive rates. They will help your business gain a tax advantage. Additionally, you will gain a competitive advantage by being able to recruit and retain top talent, thereby reducing the cost of recruitment. Moreover, by getting a uniform cover, your employees get a feeling of belonging to a community which fosters unity. Your employees will also tend to identify more with your company since this is a way of showing that you care about their welfare.

What to Look for in an Insurance Provider

Selecting an insurance provider who can offer policies that meet your needs may pose some challenges. However, you can consider some qualities to help you make a good decision. Some of the top qualities to consider include:

• Licensing – A reliable company should be licensed by your state and all other relevant authorities. They should be able to operate in your state and to offer the products you are interested in.
• Customer service – They should have in place good customer service which can handle your queries in a timely manner.
• Claims – Ensure that the insurance provider you choose handles claims in a transparent manner.

Benefits of Working with an Insurance Broker

When buying an insurance policy, you can decide to work with an independent insurance broker. The reasons include:

• It’s easy to work with an insurance broker because they are proactive and once you make initial contact with them they do a follow-up. They move fast to generate several quotes.
• They are cheaper since they are given different premium rates by the insurers so as to have lower premiums.
• Insurance brokers are experienced in a wide range of products and will be able to recommend the best policies for your needs.
• Brokers are transparent about their commissions and will disclose fully how their commissions are going to affect your insurance premiums.