What to Look for in a Business Health Insurance Plan

health insurance name tag illustration design over white
health insurance name tag illustration design over white
Searching for an employee benefit plan can be tedious and confusing. There are so many factors to take into account that it can become overwhelming for an employer. We understand that all of your employees have different health needs and most likely want different health plan options. That’s why we’re here to help make your job easier by sifting through the plan options and create a customized benefit package to please all of your employees.

First questions to consider before researching plans are:

  • How many employees do you have?

  • How much do you want to contribute to their health coverage (if any)?

  • Will you extend the coverage options to the employees’ family?

  • Do you have any employees with specific health needs that may want more coverage? (For example, people currently pregnant or considering starting a family)

After taking some time to review those considerations, we’ll start gathering different plan options that will fit your company’s needs. We understand that budget is important. However, it’s equally as important to receive value for your cost. Don’t just go with the cheapest plan on the market! You may be paying for a plan that doesn’t actually benefit you in any way. Alternatively, don’t just go for the most expensive plan either since you may be paying for unnecessary benefits.

We’ll help create a custom company benefits package with you so that you are getting the most value from your budget and plan.

When finalizing your health plan decisions, ask yourself the following questions:

  • Does the plan have a reasonable deductible? If a plan has a deductible, it means you have to pay up to that amount in your medical costs until you can actually receive your insurance plan benefits. Thus, if you rarely go to the doctors, you may want to consider a higher deductible plan. However, if you go often, you may want a lower deductible plan so that you can receive your maximum benefits sooner.

  • Are the copayments reasonable? If you go to the doctor often, you may want to consider a plan with smaller copayment costs. Alternatively, if you rarely see a physician, a higher copayment may be OK.

  • Can I pay the out of pocket maximum in the event that something happens? If something tragic happened and you had to pay for numerous medical expenses in a year, it is important to consider whether that maximum payment would put you into a state of financial burden.

  • Is my doctor covered under this plan? If you currently have a doctor you love, make sure that your physician is covered in the plan network.

  • Are my prescription drugs covered under this plan? (if applicable) If you are taking any prescription medications, consider the cost of the medications per health plan.

If you need help finding a plan that fits your company’s needs, feel free to give us a call. Remember, it’s free!

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