For many people, the best option for obtaining health insurance is through their employer in Loveland, Greeley, Windsor, Longmont, Fort Collins, and the surrounding areas. This is usually done through group health benefits plans where the majority of the company is covered as a group. Rather than try to do all of the work needed to find the best option for group health benefits, work with Volk Insurance Benefits where we deal with group health benefits for many different companies. We can help to explain how it all works and manage the different insurance companies’ offer to get you and your business the best option. Contact us today to learn more.
Why Group Health
Group health benefits exist because it provides a lower premium for each covered person when compared against individual insurance plans. The risk is spread over more people, and just like you can get volume discounts when ordering more, there is a volume discount when more employees are covered under the same plan.
There are two main flavors of group health benefits: health maintenance organizations and preferred provider organizations. The HMO model helps to keep costs down, but it does this at the expense of flexibility on who you can see and where you can see them. The PPO model tends to be a bit more expensive, but it allows a greater choice of doctor as well as specialists.
Group health benefits cover nearly half of all the country’s population, and this includes the employee’s family members such as their spouse as well as their children. Unless your spouse also has access to a group health benefits plan at their employer, it just makes financial sense to cover the entire family with your group health benefits.
Tax Benefits for The Employer
As an employer you are offered a tax deduction for the money that is paid towards the monthly premiums. This is an incentive to cover as much of the monthly premium as possible to lower the business’s taxes. But employees can also experience tax benefits as well as many plans offer the employee premiums to be paid with pre-tax dollars, reducing the amount of taxes for the employees as well.
No matter what business you own or operate in Loveland, Greeley, Windsor, Longmont, Fort Collins, and the surrounding area, offering group health benefits is a great way to help keep your present team as well as to attract future talent. Talk with Volk Insurance Benefits today to learn more and put our experience to work for you and your team.