In today's health conscious society, a major consideration in accepting any job offer is the benefits package that accompanies employment.
Companies must develop and maintain competitive benefits in order to retain employees who are committed to their work.
If you are just starting out or are shopping around, here are some areas to consider when purchasing an employee benefits package.
What's Available:
Employee benefits generally include health insurance (sometimes including dental and vision benefits), term life insurance and a possible retirement plan.
Groups disability insurance also available, although employers and employees opt for this benefit less frequently.
Employers can provide coverage for their employees alone or for the employees and their families. Cost is usually the determining factor.
With the high cost of health insurance in the United States today, employers are more likely to ask employees to pay some or all of the cost of health insurance for their families and sometimes for the employees themselves.
Size Can Determine Coverage
Depending on the size of the group to be insured, the business may serve as the policyholder for the group's insurance.
However, for many small businesses, the insurer will pool them together in multiple employer trust. The trust itself, rather that any single employers, is the policyholder.
This enables smaller businesses to benefit from the lower premiums and other services enjoyed by larger groups.
Cost Determination
The cost of health insurance can be a pricey one. Group health insurance premiums are set based on the number of people in the group and the amount and type of coverage provided.
Premium rates are also affected by the ages of those in the employer group, the type of work the employer is in and the employer's zip code or area of the country.
Many insurers charge higher rates for older employees, due to a higher risk in health problems resulting in more insurance claims.
Thus there may be one rate for members for different age groups.
Premiums may vary by zip code because of different rates of utilization and different costs for medical care in those areas.
A rule of thumb is that premiums are usually higher in major metropolitan areas than in small towns.
We recommend you take the time to review your policy coverages as your company grows with your agent or broker.
It's also important to shop your insurance premium and coverages to see if you have the best available...
| 
Insurance
needs are different for each and every client that we
serve. We realize that at times we are judged by
the company we keep. We continually evaluate new
companies that may be an asset to your business or
personal security..
