An attractive health benefits plan will help your company draw and retain the best talent. However, providing a quality program while keeping costs low can be a challenge. Shopping around for the best rates and coverage is essential but can be difficult when you have important matters to take care of and a business to run. The right group health insurance broker in Mississippi can protect your employees and give you the best value. Read our brief guide below for tips on getting the best coverage and service.
How to Select a Group Health Insurance Plan
Familiarizing yourself with important aspects of a good plan will help you easily navigate the different options that are available. Our experienced team has outlined 5 dos and don’ts to get you started.
- Create a list of requirements: Before looking for an insurance broker, think about what type of coverage you want to provide. Include preferences such as dental, maternity, mental health, etc. to stay competitive. You may also want to consider providing for employees’ dependents as many organizations do.
- Don’t go by price: It is natural to be tempted to pick the cheapest plan. However, good benefits are critical to employee wellness. High co-pays and deductibles that staff cannot afford might cause them to neglect their health resulting in more sick days and loss of productivity. Your insurance broker will help you explore options with different limits so that you can choose the best fit. A health spending account is a smart way to cut your cost.
- Look for a large provider network: This gives your employees a wider choice and shows that you truly care about their wellness.
- Consider voluntary group benefits: This type of plan may help lower premiums for you and your employees. It can give staff the option to enroll for various levels of protection, such as vision care, drugs, and paramedical services based on their requirements. If your employees frequently travel outside Mississippi or the country on work, you might want to consider countrywide or international coverage.
- Examine the insurance provider’s track record: Check the proposed insurer’s financial rating over time and across a range of services. Try to review the available information about the ease and willingness to pay claims. Our experienced team can help you in this review process. We have knowledge about an insurer’s claim history and can guide your selection.
Finding the Right Group Health Insurance Broker
Now that you have an idea of what to look for in a good program, the next step is to find a group benefits insurance broker who will protect your business interests. Here are five questions to ask that will help you make the right choice.
- What is your experience with group benefits? Brokers must be knowledgeable about group health insurance coverage to provide you with appropriate options.
- How well do you know my industry? One who has experience with your line of business knows the type of protection you need and how to help optimize your tax benefits.
- How does this plan fit my business needs? You must feel confident about your choice.
- What happens at renewal time? Some plans have a low premium to start with but increase significantly on renewal.
- What additional services do you offer? You want to know if they provide administrative support for your employees to handle their queries and concerns.
Personalized Advice and Support
Choose your group health insurance broker as carefully as you would your other business partners. You want to be sure that you are getting the best coverage and service.
At the Executive Planning Group (EPG), we combine our financial and insurance expertise to provide you with cost-effective solutions for your business. With group health insurance programs designed to meet your unique needs, we help protect and grow your enterprise.
Our team works hard to get you the best rates from reputed insurance companies. We also have extensive experience in underwriting, accounting, insurance, financial, and retirement planning.
Request a quote or call us today at 601-982-3000 to speak with a trusted group health insurance broker in Mississippi.