Group Health Information
Group Health Insurance
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What is Group Health Insurance?
The rapidly escalating cost of health insurance has drawn the attention of every employer who provides benefits to its employees. Our group department has access to multiple insurance carriers that work with them to produce desired outcomes and can make recommendations on the best plan and carrier for your business.
- Group Health
- Individual Health
- Wellness Programs
- Disability Coverage
- Prescription Drugs
- ACA Training
- State Exchange
- Loss Control Services
Alliance will review your current plan to determine if there are any exposures, then develop a strategy, implement programs, and monitor the plan to determine effectiveness with a semi-annual business review. At renewal, we re-underwrite the plan in-house to determine the necessary plan increase vs. the carrier rate increase, and we can renegotiate the plan rate and/or redesign the plan.
We also provide actuarial, underwriting and data services, as well as partner management, assistance with legal and regulatory compliance, the most up-to-date technology tools, and continuous communication via online portals, webinars/seminars, and employee meetings and materials.
Group health insurance is a single policy issued to a group of people, offering uniform health care benefits to all members. In most cases, these policies are purchased by employers and offered to eligible employees and their families as part of an employee benefits package.
Enrolling in group health insurance generally costs participants less than what they would pay for an individual health care policy for two main reasons:
- The risk is spread over the whole group, as opposed to just one individual.
- Many employers pay a portion of employees’ premiums.
What are the benefits of group health insurance?
For employees, the benefits of group health insurance include the reduced price of health care and the ease of enrolling through their employer. For employers, the benefits range from attracting quality workers to the tax credits they can receive.
Check out our health and benefits blog posts here.
Is your business required to purchase group health insurance?
Large businesses with 50 or more employees are now required to offer group health insurance under the Affordable Care Act. Small businesses with fewer than 50 employees are not required to offer coverage, but they can qualify for tax credits to help offset the cost if they choose to offer health care and pay for at least half of each employee’s premium.
Fill out the form below today for more information about group health insurance and to discuss what options might be available for your company.