Group Benefits | What is Health Insurance?

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FSA Health Insurance Agency offers a complete line of insurance and group benefits for employers. We are full-service health insurance brokerage firm that is fully licensed in the State of Michigan. Many businesses today face challenges in attracting and retaining top employees. Making sure that they have access to a good and affordable healthcare is one of the smartest decisions any businesses owner can make. It has been statistically proven that the most qualified and in-demand prospective employees routinely consider a company’s health insurance as one of their most desirable perks.

Fluctuations in healthcare laws and increasing healthcare premiums are forcing some companies to reduce the benefits they offer, while also shifting more costs to employees, or even dropping coverage completely. You know that none of these options are desirable. As such, it’s time to seek out viable alternatives to the coverage you may already have.

Whether it is your first-time shopping for a group health insurance or if you currently have a group plan and are shopping out new options… you have come to the right place.  Our goal is to help you provide the best coverage possible while keeping rates under control.

“We’re not just your broker
We’re your partners…”

FSA Health is a privately-held insurance brokerage and consulting firm focused on delivering simplified employee benefit solutions for companies of all sizes and across a range of industries.

When it comes to employee health insurance, whether you are seeking large group or small group coverage, what are your biggest must-haves?

Do you need:

• The best possible healthcare options for your employees’ medical needs.
• Reasonable costs for your company and employee.
• To comply with ever-changing healthcare regulations.
• Competitive healthcare plan options to measure against each other.

Employee health insurance can be complicated. It isn’t meant to be simple on purpose. Nevertheless, at FSA Health it is our goal to fit you with the right insurance carrier based on your employee needs, desired benefits, and more. As a business owner, you know the importance of employee benefits and their contribution to your business success. Since we are independent agency and work with a multiple health insurance carrier, we can shop and find our clients the best rates for their health insurance needs. We will work with you to develop a program tailored to your individual circumstances. After initial enrollment we work hard to keep clients abreast of any changes as well as service any additions, deletions, claims or billing issues.

FSA Health focus in providing you with the most simple, transparent, and affordable coverage tailored to your specific needs. We offer nationwide coverage and low premiums from the nation’s most popular carriers.

Our team of group health insurance experts will analyze your business needs and provide several options for viable and cost-effective group coverage and costs. Allow us to help you find the best insurance solution for your employees.

These are the Group products and services that we can offer you:

• Health Insurance
• Dental Insurance
• Vision Insurance
• Life Insurance
• Short Term Disability
• Long Term Disability
• Group Medicare
• 401(k) Retirement Plans
• Critical Illness and Accidental plan

What are the different types of group health insurance plans?

Whatever the size of the business, there are health plans that help you create a healthier and more productive workplace that attracts and retains top talent.

For employees, group health insurance is almost always the best option because their employer is likely to pay a large part of the premiums, making the overall cost cheaper than individual plans. It is also common practice for group health plans to allow employees a choice from a selection such as PPO, HMO, and other options. They are generally more comprehensive in their coverage.

For employers, group health insurance is a tremendous investment. Competitive benefits are a must for attracting high-quality employees. Health insurance is considered an imperative employer-sponsored benefit, and group health is attractive because it offers PPO and flexible enrollment schedules. If employers pay 50% of employee premiums, they can write off the expenses on their taxes.

For small businesses, group health plans can be a tempting way to get quality coverage while reaping the tax benefits of purchasing the plan. As long as a business has two or more eligible, full-time employees, they can buy a group health policy. Many small businesses choose to cover 100% of the premiums, while others offer a split employer/employee percentage contribution with 50/50, 70/30 or 80/20 to cover premium payments. In this case, employees can choose to purchase their plan benefits base on their preference and affordability.

You must have at least two eligible employees to get a group health insurance plan. Eligible employees are actively employed full-time, which is defined as working 30 or more hours each week.

If an employee covered through a group health insurance policy leaves their job for any reason their coverage is terminated. In many cases, they can retain coverage through COBRA for a limited period by covering 100% of the premiums. However, if they are 65 or older, they can apply for Medicare.

Typically, if they are retiring, they may be eligible for Medicare and will no longer need group coverage. If they are under the age of 65, they will need to look into COBRA or an individual HMO plan until they turn 65.

No. You are only able to purchase one major medical health insurance plan at a time. You may, however, buy plans that help offset the deductible. You may also purchase plans providing coverage where your major health insurance plan may fall short.