Businesses require a health insurance plan to attract and retain top employees. BenefitCorp helps organizations plan, design and select cost-effective health insurance programs catered to the wellbeing of your employees and their needs. Regardless of the size of your organization, we will ensure your employees receive the best possible plan while staying within your budget. Our supplier’s plans cover a wide range of medical expenses, meaning your employees will not have to worry about whether they are covered for a specific visit.
Health Insurance Policies We Offer
BenefitCorp offers health insurance consulting for policies that are designed for nearly all types of sizes of businesses. Through working with our insurance suppliers, we help secure both traditional, fully-funded plans that are covered by an insurer, as well as self-funded plans that can be mostly covered by the employer. While both are beneficial to organizations and their employees, each carries a unique set of advantages. Read more about these two types of plans and find out how they can benefit you:
Fully-funded insurance plans are suitable for employers who want to leave health insurance claims in the hands of their provider. These plans include:
- Exclusive Provider Organizations (EPO) Plans – EPO plans allow employees to visit a wide range of health providers, and feature slightly high deductibles but relatively low premiums.
- Preferred Provider Organizations (PPO) Plans – With a PPO plan, you have the option of increasing your budget to receive out-of-network coverage for non-emergencies.
- Health Maintenance Organizations (HMO) Plans – These plans require a PCP, as well as referrals for specialist doctors. HMOs feature high deductibles but extremely low premiums.
- Point of Service Plans (POS) – POS plans also require a PCP like HMO plans, but offer flexibility like PPOs as they grant the ability for employees to receive coverage when visiting doctors out of the network.
- High Deductible Health Plans (HDHP) – HDHPs feature very high deductibles, but can be combined with a health savings account to significantly reduce out-of-pocket costs on future medical expenses.
Regardless of the option you choose, BenefitCorp will work with you to set up your plan and file any necessary claims. We will also work with suppliers to provide reasonable premiums for organizations, with no hidden or late fees. Our plans also provide coverage options for employees with an injury or disability, such as rehabilitation therapy or specialist appointments. We will also work to minimize copays as well, allowing your employees to focus solely on getting better without worrying about how much it will cost them out of pocket.
In contrast to fully-funded plans, self-funded insurance options allow the employer to cover employee claims based on a predetermined maximum. This grants the employer control over the funds, enabling them to keep track of expenses and adjust the budget. Self-funded plans also help eliminate specific business taxes, which ultimately increases income for the organization.
Self-funded plans are regulated by the Employee Retirement Income Security Act of 1974 (ERISA), meaning they are not subject to state laws or bound to the rules imposed by an insurance agency. If you so choose, we will help your organization find and select a self-funded plan that meets your needs, as well as provide continuous support when you need assistance with a claim. For more information about self-funded insurance options, please visit our self-funded insurance page.
Get Proper Health Insurance Today
If your organization is ready to attract top talent and bolster its health insurance plan, speak with the professional brokers at BenefitCorp today. Our team is ready to work with your HR department and top executives to discover a health coverage solution that will benefit all of your employees In addition, we will help you select a plan that will save money and resources without sacrificing practicality, granting you peace of mind knowing your employees are in the right hands. For more information about health insurance consulting solutions, or to request a consultation, contact BenefitCorp online or by phone at 972.737.7875 today.