HEALTH INSURANCE

Group Health Insurance

Many companies offer group health insurance and benefits as a perk for their employees. Offering group health leads to higher company morale, productivity and employee retention. Group health insurance allows employees to enroll under a health plan offered by a business.

Under a group health insurance plan, the employer covers part of the cost of the insurance plan and the employees are responsible for paying the remaining amount. Starting 2014, most people will be required to have a health insurance plan or pay a penalty, furthermore groups of 50 or more full time workers will be required to offer group health insurance or pay a penalty.

Why Group Health Insurance?

  • Employees are exempt from paying income tax on employer-sponsored group health insurance benefits.
  • Group health insurance plans offer additional benefits to their participants as compared to an individual health care plan. Many plans offer additional coverage, such as coverage for vision and dental work.
  • Group health insurance makes health care coverage more affordable for employees. Group insurance plans cost less per person than individual health care policies. Additionally, employers subsidize the cost of the policy, thereby reducing the employee’s financial burden.

Why Group Benefits?

Group benefits can include Vision, Dental, Accident and Critical Illness and Supplemental Health and Disability policies. These plans can be offered in a employer sponsored basis (company pays a portion and employee the difference) or on a voluntary basis (employees pay full share of plan themselves). Many of these benefits are not available to the individual market and those that are enjoy considerable discount in a group setting.

Options for Group Health Insurance & Employee Benefits at Massive Insurance

Massive Insurance can work with you to determine the best policy for your company. There are many options when it comes to group health and benefits, and your options will largely depend on the number of employees you need to cover and the coverage you want to provide. Employers can usually select how much coverage they wish to offer and any additional coverage they would like to make available, such as optional eye, dental and accident plans. The scope of coverage and the size of your
group will be the determining factors in cost.

Additionally, you may want to choose a group health insurance policy that will offer your employees flexibility in their coverage, such as the size of their deductible or optional participation in a health savings account.

Contact Massive Insurance and explore your options and for more information about obtaining group health insurance and benefits for your business.

Why Individual Health Insurance?

If you’re not covered by a workplace plan, you need to get an individual health insurance policy. The Affordable Care Act requires you to maintain this type of coverage, but you need it for more reasons that legal compliance.

This type of coverage makes it possible for you to get the healthcare you need to stay healthy, without ever having to decide between protecting your physical and financial health. As healthcare costs rise year after year, it only becomes increasingly important to protect your body and your wallet with individual health insurance coverage.

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