Group Health Insurance
Health Insurance comes in many shapes and sizes, a company can be considered a large group or a small group. A large group is a business with more than 50 employees; a small group is a business with 1 to 50 employees.
For the smaller sized companies, a lot goes into determining what type of group you want or need to be based on who the company wants to be covered, or needs to cover, and what type of coverages will be offered. In most cases, Health Insurance is an Employee Benefit above and beyond their pay which tends to increase the employer’s retention rate. Is this a benefit you would like to offer your employees?
Assurance Employer Solutions represents many carriers with many different policies. We will help you determine which one is just right for your company! We offer Blue Cross Blue Shield, United Health Care, Aetna, and Humana.
Our Health Insurance Plans listed below will provide you with a very brief overview of the various types of policies available to you.
Group Health Insurance policies CANNOT exclude Pre-Existing Conditions!
Individual Health Insurance
Health Insurance is also available to Individuals who do not have group coverage available. The same Health Insurance Plans are available but are paid for solely by the Individual rather than an employer. You need to carefully consider all plans before choosing your policy.
Health Insurance Plans
Health Maintenance Organization (HMO) is designed to manage the cost of health care that people receive. HMOs contract with doctors and medical facilities to create a schedule of fees for services that are acceptable to providers and the HMO. Patients are required to use primary care physicians and specialists who have agreed to accept the payments prescribed by the HMO. In addition to monthly premiums, patients may have a co-payment per doctor visit and a yearly deductible. Health Reimbursement Account (HRA) A tax-exempt account that can be used to pay for qualified health expenses. HRAs are usually paired with a high-deductible health plan and are funded solely by employer contributions.
Health Savings Account (HSA) is a tax-exempt savings account that is used to pay for qualified medical expenses. Individuals can obtain an HSA from most financial institutions, or through their employer. Both employers and employees can contribute to the plan. You must have a high-deductible health plan in conjunction with the HSA.
Point of Service (POS) plans has a combination of the features of HMOs and PPOs. POS plans use contractual agreements with medical providers to control costs. Providers who agree to the fee schedules set by contract are working within the network. POS plans offer patients greater flexibility than other managed care programs. Patients will pay a greater share of the cost for treatment if they do not go through their primary care physician for a referral.
Preferred Provider Organization (PPO) establishes contractual arrangements with medical providers but allow patients some latitude in the selection of the primary care physician they choose to visit. Patients who seek care outside of the contracted network may pay up to 50 percent more for services. Patients do not need to seek a referral to visit a specialist, but there are financial incentives to seek medical treatment within the network. PPO clients may pay greater out-of-pocket expenses than HMO clients.