Traditional Group Health Insurance
Options and insight are important when choosing traditional Group Health Insurance for small and large group employers. You want to show your employees they are valued. Often, providing Group Health Insurance is a key component of that message. This benefit often involves a standard Small or Large Group Health Insurance plan that has been designed with your geography, group size and budget in mind. Plans are available from a familiar group of insurance companies. These include Aetna, United Healthcare, Humana, Kaiser Permanente, Cigna, and the Blue Cross Blue Shield family of companies. Most small group employers offer a traditional group health plan to their employees.
The Affordable Care Act
The Affordable Care Act (ACA) created health insurance plans that could be more easily compared. The intent is to help the buyer understand the coverage and protect the user in a uniform manner. Group plans must have 10 Essential Benefits to qualify as an ACA compliant plan.
10 Essential Health Benefits:
- Ambulatory patient services
- Emergency services
- Hospitalization
- Pregnancy, maternity, and newborn care
- Mental health and substance use disorder services
- Prescription drugs
- Rehabilitative and habilitative services and devices
- Laboratory services
- Preventive and wellness services
- Pediatric services, including oral and vision care
Depending upon your needs, we can present different plans side-by-side and help you decide which plan works best for you and your employees. Many times, we can provide a Dual Option program, allowing two different types of coverage under one policy.
High Deductible Health Plans
High Deductible plans have become an increasingly attractive option for some employers. In order to increase plan participation, some employers are offering a high deductible plan option in addition to other plans. A higher deductible plan comes with a lower price tag. This can provide a solution for budget-conscious employees who might otherwise choose not to carry insurance coverage at all. This can also be a preferred option for younger, healthier employees who do not have high healthcare utilization. Employees gain the comfort of knowing they have insurance in case of a catastrophic situation, without a large dent in their monthly pay check.
Plan Types
Examples of plan types available include:
- HMO – (Health Maintenance Organization): In-Network coverage only.
- POS – (Point of Service): HMO Network coverage along with deductible coverage outside the Network.
- PPO – (Preferred Provider Option): Network coverage without having to choose a “gatekeeper,” along with deductible coverage outside the Network.
To begin, call us and speak to one of our Risk Advisors today. Or complete this Employee Census form and email it to us to begin the conversation at moodybenefits@moodyinsurance.com.