Offering health insurance for your employees is a very important decision, and a crucial step in your company’s growth and development. It is not a decision to be taken lightly, and there are some important things to consider when choosing a group health insurance plan for your business.
First, when choosing a small business health plan, you’ll want to make sure to go with a reputable, proven and trustworthy company that offers a wide variety of flexible options. You will want a company that shows robust and generous benefit levels, a variety of options as well as evidence that they are continually evolving with the times. You also want to know they’ve got the ability to take care of the changing need of your company as you continue to grow over the years.
Some specific features to look for are reasonably-priced out-of-pocket minimums and predictable office visit co-pays that are clearly shown up front in each policy. Look for 100 percent coverage for lab fees, x-ray costs and similar services. Ideally, the group health plan you find will also provide 100 percent coverage for preventive care.
Clearly defined and straightforward benefits as well as comprehensive coverage and low out of pocket expenses are other things to look for as well. You will want to see that the same office visit co-pay will be collected regardless of whether the patient seeks primary or specialty care. Packages should also provide preventative care including annual physicals, OBGYN exams, mammograms and PAP tests for women, screening for men of their prostate glands and immunizations for kids as well as adults. Ideally, preventive care should be 100 percent covered by the plans offered and not subject to the deductible.
Another attractive feature to look for in the best group health insurance plans is the increasingly-popular prescription drug coverage employee-choice option. This benefit offers the employees the choice to select brand name or generic-only drug coverage while allowing the employer the simplicity of providing one plan. Features like these allow employees the ability to pick their own plans which are designed specifically to meet their needs as well as their budgets.
Another valuable option to have access to is a Health Savings Plan. This can be in addition to or in lieu of actual group health plan coverage. Some of your employees may really appreciate having this option. HSAs are tax advantaged and are a great option for those who choose a health care plan with a high deductible which usually means lower monthly premium payments.
Ultimately you should find a provider that will offer your employees options for their routine as well as specialized care, as well as options in terms of available plans to fit any budget. Above all, however, remember to select a company that puts people above profits and demonstrates a caring spirit. While the specific features of the small business health plan are important to consider, the way the provider will treat your employees down the road is perhaps the most important consideration.