When it comes to installing a Group Health Insurance Plan for your Company, Halili Hilltop Insurance Agency is here to help guide you.
Employers have many things to think about when running a business. One area is what benefits to offer your employees. Group health insurance, which you as an employer sponsor and contribute to, is one of the most important and popular employee benefits you can offer.
Employer-sponsored health insurance, also known as group health insurance, is installed by the owner of the business for the benefit of themselves and their eligible employees. An eligible employee averages over 30 paid hours of work per week. You can change the eligibility requirements to include employees who work 20-30 hours a week. However, because of the participation requirements, all eligible employees must be offered health insurance and, on average, 70% of eligible employees must sign up for coverage. There are exceptions to the participation requirement rule.
There are different parts of a Group Plan for
Employers to consider
- Health Insurance
- Dental Insurance
- Vision Insurance
- Group Disability Insurance
- Group Life Insurance
- Health Savings Accounts (HSA)
- Health Reimbursement Accounts (HRA)
Employers have a number of health plan options
- Preferred Provider Organization (PPO).
- Health Maintenance Organization (HMO)
- Consumer Driven Health Plan (CDHP)
Why Install a Group Health Insurance Plan
The benefits of having a plan are
- To attract and retain good workers. In many cases, employees see health insurance as the most important benefit they get at work. Additionally, in a situation where an employee can choose between two employers, the employer with group health usually winds up the one they choose.
- Group health insurance also improves productivity and morale. Employees who are healthy due to preventative checkups are more productive and, if ill, can access the care needed to get back to the job.
- Employers may receive Federal Tax Credits for up to 50% of the premium you pay for your employees. Certain conditions must be met in order to qualify. Every employer has a unique situation. We, as group health broker/consultants can help you determine if you qualify for the Tax Credit.
What if you already have Group Benefits?
Have you heard from your current broker? Do you know if you have the best rates you can possibly have based on the provider network? Do you have a plan where you can qualify for tax credits?
The benefits of having a group plan ultimately affect your bottom line. It’s important for you to have a group health broker/consultant you trust to provide the right information as well as to help you find the right insurance company to partner with so you can build reliable options at a price that makes sense for your business or company.
Halili Hilltop Insurance Agency is that trusted advisor to businesses in the Greater Los Angeles area and Orange County with a particular focus on the Long Beach area. Contact us and allow us to earn your trust.
2725 E Pacific Coast Hwy.
Signal Hill, CA 90755