With health care reform on the agenda of every politician, small business owners are concerned about their company’s health insurance needs. Unfortunately, many business owners don’t know where to turn for health insurance quotes, or how to make an informed decision. A health insurance agent can help.
Hiring a health insurance agent provides two primary benefits. First, he can provide you with the information you need to make an informed decision about what type of plan you want and what company offers it. Second, health insurance brokers are trained professionals who are in the business of providing plans to people. They understand all of the features and limitations of health insurance plans. When it comes to deciding on a policy, they have an easier time pulling the trigger on providing you with the best deal.
A health insurance plan is usually either sold by an employer, or provided as part of an employee benefit program. The employer pays the entire premium, while the employee contributes a portion, usually as a hefty annual deductible. But even when insurance is purchased outside of the employer, there are ways to reduce costs and still provide employees with the benefits they need. Additional services that are available through companies’ health plans include:
Some employers offer health benefits that are available to full-time employees, but cost more. If your company doesn’t offer coverage, or if you aren’t eligible for an group plan offered by your employer, you can purchase individual policies from a health benefits broker. Brokers buy group policies from health insurance companies and then sell them individually to employees like you. They are able to provide you with the most affordable rates possible because they negotiate with health insurance companies on your behalf.
You may want to consider using a health insurance broker if you already have medical conditions. Individual polices are often more expensive than group ones, especially if you already have medical conditions. A health benefits broker can help you find cheaper individual polices, even if you don’t have any health conditions. They can also help you understand what your policy covers and what you will need to do to get the most affordable rates possible. Health care costs are constantly rising, so you will want to make sure you’re not spending more on health care than you need to. Health care costs are only going to rise in the foreseeable future.
For employees who are eligible for group health insurance plans, there are a number of options available to them. Group health insurance is usually less expensive for employees than individual plans are for individuals. For instance, some companies require employees to be part of a small group, and some allow for employees to select their own health insurance plans. Small companies that do not offer group health insurance to employees may be more competitive in their health insurance premiums for employees, as they will be paying lower premiums themselves. In addition to health insurance premiums, employees will also receive other employee benefits, such as workers’ compensation and dental and vision coverage. If your company offers these kinds of benefits, it may be easier for you to obtain affordable plans if you belong to this kind of company.
However, if your company does not offer affordable health insurance premiums, it may be an option for you to purchase a private health insurance policy. Private health insurance premiums are typically more expensive than most people realize. However, they are often significantly lower than premiums on employer-sponsored health insurance plans, so they can provide coverage without taking advantage of any existing benefits you have.
If you are currently self-employed or have been able to work without a company for a number of years, you may qualify for a disability benefits package. Disability benefits are paid for by your employer, based on his classification of you as disabled. Your benefits will be based on your income, the amount of time you have worked without a break in employment, your level of income (including commissions), your health, and the severity of your impairment. Some disability insurance coverage requires that you meet a particular age, while others do not. For more information, contact your human resources department or request a quote for disability insurance coverage online.