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» Group Health Insurance

Group Health Insurance

Group health insurance for employees vectorIf you are a business owner or HR manager who is looking to offer health insurance to your company, a group health insurance plan is a smart choice. Any business, regardless of its size, needs coverage for their employees that works in everyone’s favor in terms of affordability, and there are several ways you can customize the plan to make sure it suits your company.

How Group Health Insurance Plans Work

A group health insurance plan will help your business cover employees’ health care expenses. It is typically a more affordable approach to insurance than an individual plan because the risks are spread across the employees as a group.

This type of insurance benefits all parties involved. As an employer, you will pay lower payroll taxes and will be able to deduct annual contributions when calculating your income taxes. Your employees, meanwhile, will pay less in yearly taxes because premiums can be paid with pre-tax dollars.

There are two main types of group health insurance plans: higher-premium plans and lower-premium plans.

High-Premium Plans

Generally speaking, plans that have a higher monthly premium will require a lower deductible when people get care.

Low-Premium Plans

A lower-premium plan will carry a lower monthly premium, but the trade-off is that people will tend to pay a higher amount for their deductible when they do get care.

Types of Group Health Insurance Plans

There are a few different types of group health insurance plans offered by New City Insurance.

HMO

Doctor with patient using group health insurance vectorAn HMO, or Health Maintenance Organization plan, will generally ask enrollees to choose a primary care doctor who will serve as their first point of contact. This doctor can refer them to specialists as needed. The enrollee will need to select a primary care doctor who is inside the insurance company’s network; care provided by those outside the network is typically not covered, except in certain emergency cases.

An HMO plan often offers lower premiums because of the contracts insurance companies have in place with providers within a network. However, they tend to provide less flexibility when it comes to how care is received.

PPO

A PPO, or Preferred Provider Organization plan, gives people greater freedom when it comes to seeing the doctors of their choice, although those who are outside of the insurance company’s network may see coverage at a lower level. Patients are not required to choose a primary care doctor under this type of plan.

A PPO plan generally offers greater flexibility, but this comes at the expense of higher premiums.

EPO

An EPO, or Exclusive Provider Organization plan, offers a combination of HMO and PPO plan features. There is typically no requirement for choosing a primary care physician with this type of plan, but there might not be any amount of coverage outside the insurance company’s provider network.

Speak To An Experienced Benefits Consulting Firm About Group Health Insurance

Conversation with client about group health insurance vectorIf you are interested in learning more about the benefits of a group health insurance plan for your business as well as your employees, speak to the experienced benefits consulting firm at New City Insurance today to learn more about group health insurance. Please give us a call at 888.210.2759 or request a consultation online.

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888.210.2759
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Insurance Products

  • Commercial Insurance
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  • Group Health Insurance
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  • Self Funding
  • Minimum Essential Coverage

Benefits Consulting

  • 401k & Retirement
  • Benchmarking
  • Executive Benefits
  • Group Health Insurance
  • PEOs
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HR & Technology

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Google Rating
4.9
New City Insurance
New City Insurance
4.9
Mary Jane Deyette
Mary Jane Deyette
00:57 11 May 20
Jeff Stoltey is so awesome...even thru my company had only two employees, he took the time each year to research and find the best plan for us. The only reason I am leaving New City Insurance is because we no longer have any employees. Thank you Jeff
Tricia DeYoung
Tricia DeYoung
19:49 13 Feb 20
I was very thankful I inquired about this info. with Brendan. He was very helpful so I understand the benefits available much better now. Thank you Brendan.
Alma Ortiz
Alma Ortiz
22:25 23 Feb 20
Brendan was awesome! I couldn't figure out how to pick my plan and he returned my call on a weekend to help me. Outstansing service!
B Bayer
B Bayer
17:43 24 Sep 19
NCI handled almost everything from start to finish. Clayton and Brendan made the plans easy to understand and walked me through the application process. They got me my ID numbers before my cards arrived so that I could keep an appointment I had already scheduled. My last broker wouldn't have done that. 5 stars!
jessica kavanagh
jessica kavanagh
19:53 13 Feb 20
Brendan was so helpful I definitely recommend him if you’re in need of good help and getting it done promptly. Thankyou so much again.
Jessica Lehr
Jessica Lehr
03:36 07 Jun 19
Our staff was interested in a health plan, but we didn't know how beneficial a solid employee benefits package would be for our business to expand. We'd lose prospective employees because they had more options for their medical insurance which was sometimes more valuable than more pay. The New City team was amazing and gave us as many affordable options as possible so that everyone had their needs met.
T W
T W
22:32 30 Aug 20
I love New City Insurance. I never had a good experience dealing with insurance brokers until I started working with Brendan. He’s awesome! He is patient with me and takes the time to answer all my questions. I’m very grateful for all his help and hard work!
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