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Group Benefits

Group benefits professional presenting to a small team.

The rising cost of employee benefits is a concern in today’s business climate. Employers are searching for solutions to help them achieve their business goals, including group benefit cost containment strategies and creative benefit designs.

Along with escalating costs, employers are dealing with challenges that include the constantly changing healthcare industry and consumer demand for information, technology, flexibility, and choice. Our agent at Murray Insurance Agency in Longwood, Florida, can assist you in designing a group benefits plan that will please your employees and help you contain your group benefits costs.

Voluntary Group Benefits

Voluntary group benefits can be an excellent way to offer a competitive benefits package to employees while managing costs to the company. Employees today want a benefits package that is tailored to suit their needs, and voluntary benefits programs give them what they want. These benefits are offered by employers and paid mostly or entirely by employees through payroll deferral. Common voluntary benefits include:

  • Life insurance
  • Disability
  • Accident insurance
  • Cancer and critical illness insurance
  • Vision
  • Dental

Voluntary benefits are cost-effective for both employers and employees. The benefits you offer employees are a critical part of retaining the best talent. These programs increase confidence, as employees feel secure about their financial future, as well as more productive.

Offering group benefits to employees helps keep them happy and engaged. Our team member at Murray Insurance Agency will work with you to design a benefits package your employees want while containing costs for your company. Contact us today for assistance from a local agent.

Many businesses today face challenges in attracting and retaining top employees. As a business owner, you know the importance of employee benefits and their contribution to your business success. We will work with you to develop a program tailored to your individual circumstances. These products and services are designed to provide solutions to your personal and business financial needs, including:

We believe that employees are a company’s greatest asset and should be treated as such. Our experienced team of agents will find the best, most tax-effecient plan for you so that you can save money while providing your employees with the coverage that they deserve. Let us handle the burden so that you can focus on running your business.

The Benefits of Offering Group Health Insurance

  1. Reduces Absenteeism: Healthy employees means fewer missed days, more focused productivity, and an overall reduced risk of spreading illnesses to other members of your team.
  2. Attracts & Keeps the Best Talent: Offer additional benefits to find and incentivize top-performing employees who demand coverage. Group insurance means better business.
  3. Offers Tax Benefits for the Business Owner: You can save money while also offering benefits to your employees. Talk to your accountant about health insurance expenses being 100% tax deductible.
  4. Offers Tax Benefits for Employees: Your premiums are deducted from your paycheck with pre-tax dollars, meaning the money is deducted from your wages before taxes are applied.
  5. Fosters Team Spirit and Productivity: Your team is more likely to feel respected and appreciated when you offer group health insurance as a benefit. This feeling creates a better workplace culture.

Many of our group health plans offer options including:

  • Care Support Programs: Easy access to personal health coaches, and a wealth of information and tools designed to help you make the right hospital, physician and care choices.Top-Notch Customer Service
    Our agents are experts in every aspect of group insurance, so they’ll always be willing and able to help with any questions.
  • BlueCard® Program: Access to a worldwide network of providers and organizations is available with the BlueCard®.
  • E-Medicine: Allow your employees to communicate with physicians and offices via the web.
  • Ease of Administration: Streamlined enrollment and renewal processing make this hassle-free for you and your employees.
  • Discounts on Special Services: Your employees can save on services like LASIKsurgery, hearing aids, alternative medicine, bikehelmets, fitness club memberships and more.
  • 24/7 Coverage: 24-hour online member self-service as well as resources to make informed health choices.
  • Additional Products and Services: Reimbursement Accounts, BlueDental® Plans,Life Essentials basic life insurance, BlueRestore short-term disability plans and more.

Understanding Group Health Insurance Plans

When it comes to group health insurance, looking after your team has never been more affordable than with Group Health Insurance. Without offering your employees proper health coverage, illness and health problems can interfere with your business.

With many different health plans available, the 4 main types of Health Insurance Plans are:

  1. Preferred Provider Organization (PPO): for claims to be paid at highest level, employees select doctors and hospitals from a list, most common plan
  2. Health Maintenance Organisation (HMO): Employee typically select one primary care physician (PCP), offers a wide range of health care services through a network of providers either contracted exclusively with HMO or agree to service members
  3. Health Savings Account (HSA)-Qualified: designed specifically for use with health savings accounts and can be used in conjunction with a Health Reimbursement Arrangement (HRA’s)
  4. Indemnity: Allows members to direct their health care, visit any doctor or hospital, where insurance pays a set portion of total charges and sometimes employees pay for services up front to later be reimbursed by the insurance company

Selecting the right Group Health Insurance Plan can be a difficult process. We can help you decide your options and based on your team, need, and budget, which health insurance plan is right for you. Get the help and free professional advice you deserve.

Is Group Insurance Right for my Business?

Health impacts the quality of life of the very people you rely on to keep things running smoothly at work. But it also impacts your bottom line. Missing deadlines, client meetings, or being understaffed can cost profits, projects, clients, and sales, making health insurance an investment that pays off for your staff and business.

You’ve worked hard to build your business, but its growth and success still rest on how well it operates day-to-day. Health insurance looks after the health of your business by looking after the people who help it operate – your staff.

Offering Health Insurance Doesn’t Have to Be a Headache

So you know you need to offer health insurance, but the problem is health insurance can get really confusing, really fast. And you’re not prepared to tackle all of the questions that your employees may have. But don’t worry, that’s where we come in.
With the free help of our agents, you’ll know you’re getting the right coverage at the right price. And since your business and your employees are unique, we’ve got over 40 plan options to help ensure your package perfectly suits the needs of your company.

How Does Group Insurance Work?

Whether you’re a small business owner or the head of an HR department at a large firm, our insurance agents will meet with whoever is in charge of handling benefits at your company.
We want to make this process painless for you, so it’s entirely on your terms. Some of our current clients like discussing their benefits through any of the following:

  • Over the phone, call or text with one of our agents at any time
  • Meet in-person, at your office or ours
  • Over lunch or a quick coffee
  • Online chat or Facebook Messenger – especially handy when traveling overseas with limited cell reception (TIP: never leave home without travel medical insurance)

At our first meeting, we should be able to finalize which plans your company will be offering. Most businesses select between 3 and 5 health insurance plans to offer their employees.

We’ll need to figure out how much employer and employee contributions will be. This means that companies split the cost of the health insurance premiums with their employees. The employee pays the rest of the premium and the actual medical bills when utilized.

How the Affordable Care Act Tax Affects You

When it comes to the Affordable Care Act, the size and structure of your workforces based on full-time employees determines benefits and responsibilities.

Group Health Plan (GHP) Vs. Group Health Insurance Plan

A group health insurance plan is a group health plan, but not always vice-versa. Even though they are often used interchangeably, in reality, they’re separate things.

Group Health Insurance Plan

  • Overall employee welfare benefit plan
  • Provides medical care to participants and their dependents, directly or through insurance, reimbursement, etc.
  • Most private-sector GHP are covered by the Employee Retirement Income Security Act (ERISA)

Group Health Insurance Plan

  • Type of group health plan
  • Provides actual health insurance coverage to employees
  • Employer-sponsored health insurance or job-based health insurance

Wanting Group Health Coverage, But Work Doesn’t Cover You?

Group Health Insurance coverage offers a lower insurance premium with more coverage and ways to look after your health. But when your employer doesn’t provide Health Insurance coverage, the good news is that many membership organizations will, such as:

  • Alumni Associations
  • Affiliated Workers Associations
  • Professional Organizations (Writers Guild of America, National Association for the Self Employed, etc.)
  • Unions
  • Freelancers Union
  • AARP