Connecticut Group Health Insurance
The health insurance marketplace has changed a great deal in just the past few years. The escalating cost of healthcare has continued to cause an increase in Connecticut health insurance rates for business in Connecticut. At InsuringCT we work closely with each employer and provide innovative solutions to help them continue to offer group health insurance to their employees at the most cost effective option. Contact us today to see how we can be assistance to you and your company.
Best reasons to Offer Connecticut Group Health Insurance
If you're wondering why you should offer Connecticut health insurance to your employees despite the fact that the government isn't forcing you to do so, yet, here are a few reasons you may want to offer Connecticut group health insurance to your employees:
- It will help you attract and hire the best employees – let's face it: the company that offers health insurance can be deal breaker to some employees.
- The benefit will help keep your employees happy and hopefully healthy – happy workers are those who feel valued and knowing that the company cares enough to provide health insurance goes a long way.
- Your company can enjoy a tax breaks – did you know that 100% of the insurance premiums for your employees are a tax deduction? Contact us to find out about additional tax savings available through HRA's, HSA's and FSA's.
- Those employees with health insurance tend to have better health. A healthier employee reduces absenteeism and increases productivity. Ask us about health and wellness program offerings!
Who needs Group Health Insurance?
Small Group Connecticut health insurance is available for small businesses with as few as two individuals or as many as 50. Large group Connecticut health insurance is available for groups with more than 50 employees. At InsuringCT we specialize in working with with small and large business in Connecticut to develop an innovative, cost effective health insurance program that is tailored to that group's specific needs.
Types of Group Connecticut Health Insurance
There are a variety of options when it comes to purchasing group health insurance plans and it's important that you understand the number of options that are available and which ones would fit your specific needs. At InsuringCT, we'll work with you to find the best group coverage to suit your needs and more importantly your budget.
Some of the types of group Connecticut health insurance plans are:
Health Maintenance Organizations
HMOs offer comprehensive health coverage and are commonly designed as a co-payment plan (where the members pay a portion of the cost for each service). Many HMOs are switching to offer deductible plans as well in an effort to reduce monthly premiums, in many cases making HMOs an affordable group health insurance option.
With an HMO, members use providers inside the HMO network. If they go outside the network, they can be responsible for as much as 100% of the service charges.
|PPOs, or Preferred Provider Organizations||
PPOs offer a little more flexibility to see doctors or go to facilities without having to worry about their membership in a network. Out-of-network charges may still be incurred by a member depending depending on how far the member travels outside their network.
There are a number of affordable PPO group health insurance plans available in Connecticut.
|HSAs, or Health Savings Accounts||HSAs are high deductible health insurance plans as well as tax-free savings accounts. As an employer, you may choose to contribute to your employee's health savings accounts as an added benefit as well.|
|HRAs, or Health Reimbursement Accounts||HRAs are an employer-funded medical reimbursement plan where the employer sets aside a specific pre-tax amount from which an employee can pay his or her medical expenses. HRAs are commonly offered in conjunction with a high deductible health insurance plan. The money the employer contributes is 100% tax deductible, and can be used by their employees tax free as well.|
|FSAs, or Flexible Spending Accounts||FSAs are another tax advantageous option for employers and employees. An FSA allows an employee to set aside a portion of their regular income to pay for expenses that will be qualified as tax deductible at the end of the year. These expenses can include regular medical expenses and dependent child care. The money the employee allocates to their FSA is pre-tax and results in savings they can use for qualified expenses.|
There are a number of affordable Connecticut health insurance plans available for each of these types of coverage. There are both fully insured and self insured options available for both small and large group.
How to Buy Connecticut Group Health Insurance
We work with each of our clients to reduce their personal risk – based on an assessment of their individual risk factors. At InsuringCT, we're not your average cookie-cutter insurance firm and we know that with today's diverse workforce and challenging work environment, you aren't interested in one-size-fits-all plans either.
We work carefully with each of our clients so they have the appropriate coverages in place to mitigate financial disasters. We encourage you to get a quote today, and let us work with you to understand your options.