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Group Health Insurance For Businesses

No matter the size of your business - small, medium, or large - your employees like to have health insurance benefits. Offering coverage doesn't just keep help keep your workers healthy, it also attracts and retains the best and brightest talent to your company.

But that's something you probably already knew. The real surprise is that you can find a group health plan that actually fits your budget - and your bottom line.

When you're ready to find an affordable group plan, use our free service above and compare competitive quotes from multiple agents in your area.

So which group health insurance plans are affordable?

The most cost-effective type of health coverage for businesses is managed care. These kinds of plans negotiate prices with health care providers - including doctors, hospitals, clinics, and specialists - to get discounts on medical service in return for patient referrals.

In other words, managed care plans help make sure everyone wins. The good thing for you and your employees is coverage with a managed care plan is both affordable and comprehensive.

Types of Group Health Insurance

Here are the two most common managed care plans for group health insurance:

HMO plans. An HMO, short for Health Maintenance Organization, is one of the lowest cost group plans available. They feature low premiums, low copayments for care, and many times require no deductible. Keep in mind that you and your employees will only have coverage with in-network care providers.

PPO plans. Preferred Provider Organizations take the affordability of managed care and give you an extra benefit. You get the most coverage with in-network providers, but you'll also have some coverage with out-of-network physicians. That means your employees have some insurance coverage no matter where they get health care from.

Another option to provide employees is coverage compatible with Health Savings Accounts (HSAs). With an HSA, your employees can save money in tax-free accounts for their health care costs.

The advantage for you? Lower health care costs. Many businesses that have offered Health Savings Accounts have seen drastic cuts in how much they spend on health care. HSAs are only compatible with high-deductible health plans - which feature lower monthly premiums than most other plans.

Ready to find a group health plan for your budget? Use our free service above and get connected with licensed agents in your area to explore your options.

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