Many people are fortunate to have excellent health insurance plans available through their employer. However, finding affordable group health insurance can be difficult without a group health insurance broker. Many employers can benefit from the expertise and knowledge of the insurance experts at Insurance Care Direct.
Types of Group Health Insurance
Group health insurance plans offered by employers generally fall into three categories: true group, HSA (health savings account) and list bill plans. True group means that the plan accepts all employees with all health conditions, is generally a major medical plan with high levels of medical coverage, and the employer pays for all or part of the premiums, which are higher than individual plans because of the acceptance of pre-existing conditions and the high level of protection. An HSA is a health savings account, which in this case is set up by an employer (an individual may do so as well), using pretax dollars. This means that a portion of a persons income is put into an investment account tax-free. This money is used to cover a high deductible and other out-of-pocket expenses incurred with their health insurance plan. A list bill is when an employer agrees to pay for the entire cost of an employee insurance plan, but may or may not want to incur the higher expense of true group insurance. With a simple list bill plan each employee would sign up individually at the lower rates but the employer still pays the entire premium. An employer may also choose the list bill method of payment with a true group health plan as well.
Choosing group health insurance can be difficult, and its best to consult with a group health insurance broker that is knowledgeable in these types of medical plans.
Insurance Care Direct: Qualified, Licensed Insurance Brokers
Insurance Care Direct is your one stop choice for all of your group health insurance needs. If you are looking for affordable group health insurance, get an instant group health insurance quote today. Then one of our qualified, licensed brokers will painlessly walk you through the process of protecting your valued employees and will help you set up the appropriate group plan, whether a true group, HSA or simple list bill.