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The Market Sells on Price, but Health Insurance Coverage Must Be Equally Priced (By Law)In Nevada, 400 businesses select a group health insurance plan every month, and that selection process is confusing for most business. There are 8 key insurance companies with over 200 plans to choose from, each selling their product through thousands of brokers and agents, many not even located in Nevada. Most brokers try to sell your company a cookie-cutter, low cost, high deductible, low benefit plan on the “best price”. However, under Nevada law, all insurance plans for the same person and coverage must be priced equally, so everyone gets the same price! Why do all the legwork yourself? Let a local expert help your company find the right health insurance plan now.
Health Care Costs Are Going in the Wrong Direction, But There Are Options
Health costs are rising, up 8% in 2011, and those costs are projected to increase another by 8.5% in 2012. Employers are increasingly shifting these costs to employees with higher deductible plans, the most popular plans in 2011, and discouraging workers from using more costly out-of-network providers (learn more). To control costs even further, companies are getting creative with Flexible spending accounts/FSAs and Health Savings Accounts/HSAs.
Employers and employees can share these costs, and there are special tax incentives and deductions for a business that offers group & business health insurance. Typically, employers cover at least 50% of each employee’s monthly premium and can contribute to dependent premiums, with the employee paying the rest. Offering insurance helps your business to hire and retain the best workers and also protects workers or family members who might otherwise go uninsured. Get your quote and reduce your group health insurance costs today.
What to Look for From Your Group Health Insurance Agent
A good insurance broker is focused on your business and employees, will find you the best plan for your budget and requirements, and will fight the insurance company when there is an issue as your advocate. As this most likely one of your biggest cost centers, you need a partner to rely on and trust, and it helps to have a partner that can come to the office, learn about your company and employees, and get you onto the right group plan.
Nevada Benefits is your local, affordable, independent insurance and financial services team. Get your group health insurance quote, call us at 702.258.1995 (Vegas) or 775.329.1995 (Reno), or email us today to get insured this week!