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Group Health Insurance by Innovative Insurance Services, LLC

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Group Health Insurance provided by Innovative Insurance Services, LLC

Group health insurance is often a top priority to recruit and retain quality employees.  It does not have to be a large expense for employers.  Let us help you find a benefits plan that is both affordable and one that your employees will boast about.

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Cost of policy

Risk Factors

Escalating costs of group plans where the employer has no control.

Solution

Individual Care Health Reimbursement Accounts (ICHRA) put the employer and the employee in the driver’s seat to control the premiums and coverage. Or talk to our team to see if a Self-Funded or Level-Funded Plan is right for you. 

Employee value

Risk Factors

Behind salary, health benefits are an important factor in recruiting quality employees.  If an employer fails to offer benefits to its employees, the employees don’t feel valued which eventually decreases their productivity.

Solution

With group health insurance cover, the employees feel happy that the of organization values them. In return, they also work hard to deliver their best and make better for all. Studies show companies with strong benefits plans have increased productivity, reduced absenteeism, lowered recruiting and training costs.

Additional benefits

Risk Factors

Large medical bills and high premiums create additional stress to employees.

Solution

At Innovative Insurance, we look at affordable, flexible employer-sponsored solutions with a wide variety of voluntary coverage products that can bring peace of mind.

Claim process

Risk Factors

Sometimes employees receive medical bills when they thought they were covered under insurance.

Solution

Our benefits team will assist the employee to ensure that the claim was correctly processed according to the benefits on the health plan.

What is Group Health Insurance?

Group insurance is a form of health coverage in which the risk for an insurer is spread across multiple policy holders. This type of plan provides healthcare benefits to members, usually company employees or membership organizations such as professional associations. 

Why do you need Group Health Insurance?

Group health insurance plans are designed to be more cost-effective for businesses. Premiums are paid with pre-tax dollars, which help employees pay less in annual taxes. Employers pay lower payroll taxes and can deduct their annual contributions when calculating income taxes.

Advantages of Group Health Insurance

One of the other major advantages of group medical insurance is the potential for tax benefits.

  • For an employer, the money paid toward monthly employee premiums is usually tax-deductible
  • For employees, premiums are paid with pre-tax dollars, which can reduce their taxable income
  • Eligible small businesses may be able to qualify for the small business health care tax credit

How much does Group Health Insurance cost?

It is more affordable than you think!  Due to recent legislation, employers have more options and control over costs. The cost of group insurance is affected by several factors specific to the employer, the insured and their plan, such as:

  • Demographics of the insured (age, gender, marital status)
  • Salary
  • Type of industry
  • Types of coverage offered (dental care, short-term disability, etc.)
  • Levels of coverage (co-pay, deductible, maximum, insured volumes, etc.)
  • Use of plan (claims experience)

Group health insurance can go a long way toward making employees and employers feel better about their working relationship. Of course having insurance will not solve all company or employee problems, but it can certainly go a long way toward making sure that employees and employers feel better about everything they have at a particular company.

Picking your group health insurance is a tough decision, but we’re here to help. We can offer you guidance on how much coverage you need and what type of benefits work best for both employers and employees. Contact us today to know more !

Already have Group Health Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.

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