Group health coverage is one of the main areas of question and concern by both business owners and their employees. With so many different options out there it’s hard to decide what is the best route to take. Additionally, health insurance is often at the top of the list of items that a prospective employee will look closely at, making sure they are being offered the best deal.
Some of the different types of group plans available include:
- PPO (Preferred Provider Organization): Your employees can choose from doctors and professionals within a network of providers, but can also visit outside the network if necessary, but it’s a higher cost.
- HMO (Health Maintenance Organization): Often a lower premium than the PPO, because your employees must visit doctors within the network.
- HSA (Health Savings Account): You and your employees can deduct a portion of your monthly paycheck, tax-free, to be set aside for any medical use. Funds typically roll over to the next year if not used.
- POS (Point of Service): Carries a similar structure to the HMO, wherein the employee must choose an in-network physician, but this plan gives the opportunity to visit outside the network if necessary.
There are a multitude of policies and rates to look through when making the decision to switch from your current group health coverage, or when starting fresh – and it can be confusing.
Give us a call today at 713-666-3601 to get started, and we can tailor your group health package to the specific needs of your company and employees.