Group Health Insurance for Small Companies
Health insurance is something that most prospective employees will inquire about, sometimes even before they look at the salary. While you might find that stupid the truth is that there is a very good reason why they do this. The simple reason is that medical costs are increasing so rapidly nowadays that they get more worried every day about how much they will be forced to pay as far as insurance premiums are concerned. And if they choose not to take health insurance, they will constantly be burdened by the question, "What if I get sick tomorrow?" So you see group health insurance has many long term and short term benefits for most employees. That's why, in this article, I am going to try and explain to you why it is important even for a small business to have a group health insurance plan.
First let me tell you what exactly group health insurance is in California. It is basically a method through which San Jose employee benefits of your company will receive, medical, vision and dental insurance at a fraction of the cost that they would have had to pay if they were taking insurance as individuals. Any company that provides such a benefit to their employees will definitely be seen as a company that cares about their employees. |
As far as group health insurance is concerned, there are basically 2 groups when it comes to small businesses:
1. HMO (Health Maintenance Organizations)- Under these plans, employees will only be available to visit certain physicians and will only be eligible for certain services. In most cases these services might only be provided by in-network providers as well. A primary care doctor will take care of each patient just like a case worker would. In the case of children, pediatricians can be used as PCP's. As far as any tests like x-rays or other diagnostic or specialist care are concerned, employees will only receive such care under the insurance plan if they get it referred by their PCP. 2. PPO (Preferred Provider Organizations)- Under these plans, patients are usually responsible for a part of the payment for care before the insurance covers the rest of the amount. The only good thing here is that they can visit any physician they choose fit. They do not even need to get referrals when it comes to visiting specialists or getting any diagnostic tests conducted. But if employees want to visit doctors from outside the insurance plan's network, they will have to cover the entire bill themselves and will only be able to get a reimbursement through the insurance plan. Even though this might turn out to be a little expensive for small businesses, when you combine premiums and administration costs, at the end of the day, your employees will have peace of mind when they come to work. You will also be able to attract much better workers. And with better employees, there is only one direction in which your business is going and that is up. |