Healthy Perspectives: Health Insurance Blog

Employees are the most important asset a business has, and attracting the right people is always a huge focus for many companies and hiring managers. Though much of the conversation in recruiting employees goes into the interviewing process and how to choose the best candidates, businesses have a much better chance of attracting highly trained individuals if they offer something more than just a nice paycheck. A benefits package can be an effective way for companies to attract qualified potential employees and keep them on the team long-term, sometimes even more than the job itself. Why A Good Employee Benefits …

The Impact of a Good Benefits Package on Employee Recruitment Read More »

You may be wondering what exactly an insurance broker is. Simply put, an insurance broker does the legwork for their clients to find the best possible solutions that their clients require. They look for the best coverage options, terms, conditions, cost, and other related benefits to compile in a simplified proposal for business owners. In other words, they work for you, not for the insurance companies. Their goal is to provide the best information and remove the burden from you and your team. There are many advantages to working with a health benefits broker, but perhaps the best is the …

Benefits of Working with an Insurance Broker Read More »

A Self Funded Health Plan—also known as a Self-Insured Plan—is a type of health coverage where the employer assumes the financial risk of healthcare benefits. The employer will pay for claims out-of-pocket instead of paying a premium for a Fully Insured Health Plan. Why do Employers Self Fund Their Health Plans? There are both benefits and drawbacks to Self Funded Health Plans. An employer who chooses this type of plan will usually set up a dedicated account to allocate funds for claims. Depending on the kind of account set up, the funds may earn interest, which can help offset the …

What are Self Funded Health Plans? Read More »

As small businesses grow, it is an exciting time to expand your mission and offerings. In addition to new growth with audience and customers, comes the added consideration of building a larger team and offering a compensation package that attracts and retains top talent. Particularly for small businesses looking to offer benefits for the first time, this can feel overwhelming. Wading through the ocean of information in the market on how to find and provide the best health insurance for your employees is difficult. While it is great that businesses have so many choices, it can seem a little daunting …

How to Provide Insurance for Small Business Employees Read More »

A level funded health plan combines cost-savings and a high level of customization similar to self-funded health plans with the financial safety and predictability of fully-insured plans. They are growing in popularity very quickly among small business employers. This type of health plan still fully utilizes contracting with health insurance companies, but the employers agree to assume more financial risk. What are the Components of a Level Funded Health Plan? There are four main components to a level funded health plan: Administrative Costs — Under a level funded health plan, the administrative costs are fixed costs and charged on a …

What is a Level Funded Health Plan? Read More »