Providing Everything You Need
Group Major Medical Plan
The cost for major medical insurance rises every year and most employers have been experiencing mid to high double digit increases. Unfortunately, employers aren’t able to take on the full financial burden of those increases and are forced to pass those increases onto the employee or must alter the benefits to try and contain the costs. This, in turn, can force the employee to seek employment with another company offering a more comprehensive and affordable benefits program.
Healthcare Choice, LLC is able to offer its clients an array of group major medical options including traditional fully insured products with regional and national carriers, Administrative Services Only (ASO) programs for self funded clients” as well as an innovative solution called a Level Funded Benefit Plan to help you maintain your benefits and the costs for benefits at a price that is affordable for you and your employees.
A Level Funded Benefit Plan is a hybrid benefit solution that delivers the advantages of Self-Funding with the stability and peace of mind of Fully Insured coverage.
Under a Fully Insured plan, the monthly premium costs are locked in. Even if a group is healthy and has no claims, the savings are kept by the insurance company.
With the Level Funded Benefit Plan, and the use of Stop Loss Insurance, costs are predetermined and the employer pays 1/12 of this cost each month. No matter how much claims are in a month, the employer will never pay more than the monthly premium. After all claims are paid for the plan year, the unused money in the claim fund is returned to the employer.
Each month, the employer will receive an accounting report on all claims paid during the month and the plan year-to-date. This reporting provides the information necessary to fully track the claims fund and to understand where the claim fund dollars are spent, such as doctor’s office visits, prescription drugs, outpatient services and hospitalizations.
To learn more about the level funded plan, click here!
Group Dental Insurance
Research continues to associate oral health with overall health. For example, did you know that when a dentist diagnoses gum disease other serious health problems may be lurking?
Many employers and employees are paying too much for their dental program. Healthcare Choice LLC is able to customize a plan that best suits your employees and their needs. Offering a dental benefits program to your employees, either on a voluntary basis or employer sponsored basis, can be used as a tool for medical cost containment. Published studies support treated gum disease and lower medical costs for individuals.
Group Vision Insurance
Getting an eye exam is not only to determine if you need glasses, it’s about your health! Like routine Dental exams, Vision exams can detect not only eye health problems, like glaucoma or cataracts, but it can also help identify early signs of disease that impact your overall health like high blood pressure, diabetes and high cholesterol.
Vision Insurance can be offered on an employer sponsored or voluntary basis. Some carriers have rates as low as $5 per employee per month for comprehensive exam and materials coverage.
Group Life Insurance
Life insurance proceeds can provide financial stability for your family and peace of mind for you. However, the majority of employees are underinsured when it comes to life insurance. The most mitigating factor for this can be a pre-existing medical condition that deems a person “uninsurable” for life insurance. Typically the only way for people to obtain life insurance is through policies offered via their employer under a guaranteed issue platform.
There are a multitude of different life insurance policies that we are able to provide for your employees. Basic Term Life, Voluntary Life, Optional Life, and Dependent Life insurance just to name a few. At Healthcare Choice we can help assist you with the life insurance benefit that best fits your needs and the needs of your employees.
Group Disability Insurance
In today’s tough economic times and with companies facing rising health care costs, disability insurance has become an often-overlooked benefit. However, income protection remains an important benefit to offer your employees. In the event of illness or an accident, disability insurance provides the security and peace of mind your employees need in order to continue to provide for their families. Whether the coverage is employer-paid or offered on a voluntary basis, we can provide the right plan for you.