Group Health Quote Forms
Looking for coverage? Click any of the following links to submit a quote for quick, accurate and affordable rates.
Group Health Information
As an employer, the benefits packages that you offer to your employees can have a great impact on their health and wellness, as well as your ability to attract and retain talent. One of the most common features of employers’ benefits programs is group health insurance.
Cole Hixon Insurance is a family-owned and operated agency that prides itself on providing optimal insurance solutions to individuals, families and businesses in the Athens and Watkinsville areas.
How Does Group Health Insurance Work?
As its name may suggest, group health insurance creates a health insurance plan that can be joined by many members, such as your company’s employees. After your business selects a group health plan, your employees can choose to accept or decline coverage, and premium payments will be split between members and your company.
This type of arrangement, also known as employer-based health coverage, can provide financial benefits to both businesses and workers in the following ways:
- Members of a group health plan may be able to pay less for their insurance due to coverage and risk being spread across many members.
- Families and dependents can be added to an employee’s coverage for lower rates than they might otherwise be able to find coverage through an individual plan.
- Employers who oversee a group health plan may be able to access tax benefits.
In most cases, a group health plan may not be valid unless a minimum percentage of eligible members opt in. Your plan may also offer different levels of coverage that allow employees to pay more or less depending on the level of health care they want to be able to access through their insurance.
How Much Does Group Health Insurance Cost?
When determining your premiums, insurance providers must weigh several criteria of your business. In general, employers should expect the following factors to be considered:
- Business location
- Age of employees and their dependents
- Employees’ tobacco habits (e.g., smoking)
- Employees’ places of residence Plan tier (e.g., bronze, platinum, etc.)
Who Can Sign Up for Group Health Insurance?
In most cases, your company must pay payroll taxes to establish a group health insurance plan, and employees must be on your payroll to be eligible to sign up. This means that independent contractors and temporary employees can’t usually be covered under a group plan. In addition, employees who are on unpaid leave may lose coverage while they are absent.
Group health coverage usually must also be offered to a plan member’s spouse and dependent children until the age of 26. Your company may also elect to expand this age limit or extend an offer of coverage to unmarried partners.
Get the Right Coverage
Health insurance can be a complicated topic, but it’s crucial for your business to understand your options and provide adequate possibilities for your employees. In addition to the potential financial benefits of a group health plan, optimal coverage can also help employers attract and retain talent. Conversely, lacking sufficient benefits programs may have both direct and indirect financial consequences for your business.
Fortunately, the experts at Cole Hixon Insurance are here to help. Our agents will work with your business to assess your unique circumstances and craft a group health plan suitable to your needs. Contact us today to get started.