Group Health Insurance: How to Find the Right Coverage for Your Employees and Business

A well-designed group health insurance plan can help make your business in Jackson, MS more competitive through greater employee satisfaction and enhanced productivity. In a competitive labor market, employee benefits have become a fundamental strategy for employers to attract and retain the best talent. Employee health insurance costs can also be deducted as a business cost or taken as tax credits depending on the size of your firm.

Types of Plans for Group Health Insurance in Jackson, MS

Understanding the different types of plans available to you will help you make the right choice for your employees and your firm. Here is an overview of the main types of plans for group health insurance available for businesses in Mississippi:

  • Health Maintenance Organization (HMO) Health Insurance Plans: Employees covered by this type of plan will need to select a primary care physician from the HMO network of providers. Most HMO plans require a referral for a specialist.
  • Preferred Provider Organization (PPO) Health Insurance Plans: Among the most popular plans, PPO offers a list of an insurance company’s preferred healthcare providers that employees can access for medical care. As with HMOs, they may seek medical services outside the PPO network at their own cost.
  • HSA-Qualified Health Insurance Plans: Usually, these are PPO plans designed for use with a Health Savings Account (HSA). The money in this tax-favored account can be used to pay deductibles and any other eligible medical expenses.
  • Indemnity Health Insurance Plans: This plan typically allows your employees to visit any doctor or hospital. There are no “preferred” providers. The insurance company then pays a set portion of the total cost. Plan participants may be required to pay for some services up front and then apply for reimbursement.

Tips for Selecting Group Health Insurance for Your Mississippi Firm

Healthy, satisfied and a productive staff will support you in achieving your business goals. Selecting the right plan for your firm involves a clear understanding of what you and your employees need. It is also important to have a well-organized budget.

Here are some important points to look for when choosing a group health insurance plan and provider:

  • Large provider network – Ideally, your employees should not require referrals to see a specialist. This gives your employees a wider choice and shows you care.
  • A health spending account – This is a smart, efficient way for businesses to offer quality healthcare coverage while containing cost.
  • Voluntary group benefits  – Employees can enroll for different levels of protection such as vision care, drugs, and paramedical services without you having to pay for the premiums from the organization’s budget.
  • Dedicated customer service – The provider must help your employees get answers to their health insurance questions and concerns.
  • Benefits administration – Look for online, real-time resources to help you and your employees manage their accounts.

Not sure which plan is best suited for your Mississippi business? Wondering whether to include a health spending account? Trying to determine how much coverage you need? We can help!

Personalized Business Services from an established Group Health Insurance Broker in Mississippi

At Executive Planning Group (EPG), we have extensive experience with designing, implementing, and administering group health insurance programs for businesses of all sizes. We offer personalized support and seamless service to meet your organization’s unique needs.

A trusted group health insurance brokerage in Mississippi, our team delivers cost-effective solutions with full disclosure on what you are paying for. We also have extensive experience in underwriting, accounting, insurance, financial, and retirement planning.

The Mississippi Manufacturers’ Association has endorsed us for providing their members with value-added insurance services for over 15 years.

Let us help you attract and retain the best talent with the right group health insurance plans.

Call us today at 601-982-3000 or request a quote for group health insurance in Jackson, MS.

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