Group Health Options To Consider


Health Insurance / Monday, July 8th, 2019

Offering a health plan to your employees is a smart idea. It tends to make them happier and more satisfied with their compensation to know that, should they become ill, a large percentage of their medical expenses is covered. It can also be a good financial decision for you, as it comes with certain tax benefits. There are many different group health plans out there, and it’s important to discuss which one is best for your company with your health insurance broker Florida.
HMOs: HMOs are usually cost-effective options.

The details of your particular plan can vary slightly, but most have some features in common:

  • Designated primary care physician
  • Required referral from PCP to see specialists
  • Low, if any, deductibles

Traditional: An allowed percentage forms the basis for this medical plan. While simple, it may not allow for the customization that could be necessary for a diverse workforce.
CDHPs: These plans are set up as personal accounts. Employees can then use the accounts to cover medical expenses.
PPOs: Typically the most expensive option, these plans offer a lot of flexibility.

Typical features of PPOs include:

  • Specialized care covered without a referral
  • Out-of-network care covered in many circumstances
  • Possibly high deductible

Offering health coverage for your employees makes good business sense. Your health insurance broker Florida can help you find the plan that is best for your company.

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