djamal-soft
الثلاثاء، 18 نوفمبر 2014
The greatest asset for any business is its workforce. A medical cover is one of the factors to recruit and also retain employees. This makes it some sort of an investment to the organization. Understanding the often complex small business group medical insurance plans is difficult for most employers.
To be eligible for a group medical cover a company is supposed to meet a certain criteria. The organization should have at least two owners and/or employees who are all full time. The business should be legitimate with the ability to raise the lowest employer contribution usually half the premium.
There are two types of group health cover-fee for service and managed care plans. Fee for service plan provides a broader choice of doctors including specialists and also hospitals. These plans are however no longer as popular in the market. Managed care plans have less costs and probably less paperwork.
The insurance company works out the premium after receiving, reviewing and approving the application. The set is assessed by the size and health in order to determine the premium rate. This rate is however same whether applying from an agent or a company.
The employer pays at least 50% the value of premium to be payable by the employee. The worker then pays the rest of the cost and also the full amount for the dependants. The value the employer pays may vary between states and insurance companies. In some cases the employer may decide to pay more than half the value of the premium and sometimes the costs for the dependants.
It is simple to select and apply for a health cover. Start by choosing the company and talking to them about the cover for the group. Compare the quotes of the cost from different companies with the same cover. Once satisfied with the insurer to be, request for the necessary forms, fill out and send the application.
Businesses with less than 50 employees are not required to provide health cover. However there is tax credits provided if the company does. Starting 2015, businesses with more than 50 full time employees will be required to provide a medical insurance otherwise face a tax penalty.
Remember dental and vision covers are not included in the set medical cover. However, they can be added under an arrangement with the insurer and extra payments. It is the obligation of every business to encourage its employees to seek a medical indemnity whether providing it or not. Employees who are motivated and healthy are a sure way to grow the business.
To be eligible for a group medical cover a company is supposed to meet a certain criteria. The organization should have at least two owners and/or employees who are all full time. The business should be legitimate with the ability to raise the lowest employer contribution usually half the premium.
There are two types of group health cover-fee for service and managed care plans. Fee for service plan provides a broader choice of doctors including specialists and also hospitals. These plans are however no longer as popular in the market. Managed care plans have less costs and probably less paperwork.
The insurance company works out the premium after receiving, reviewing and approving the application. The set is assessed by the size and health in order to determine the premium rate. This rate is however same whether applying from an agent or a company.
The employer pays at least 50% the value of premium to be payable by the employee. The worker then pays the rest of the cost and also the full amount for the dependants. The value the employer pays may vary between states and insurance companies. In some cases the employer may decide to pay more than half the value of the premium and sometimes the costs for the dependants.
It is simple to select and apply for a health cover. Start by choosing the company and talking to them about the cover for the group. Compare the quotes of the cost from different companies with the same cover. Once satisfied with the insurer to be, request for the necessary forms, fill out and send the application.
Businesses with less than 50 employees are not required to provide health cover. However there is tax credits provided if the company does. Starting 2015, businesses with more than 50 full time employees will be required to provide a medical insurance otherwise face a tax penalty.
Remember dental and vision covers are not included in the set medical cover. However, they can be added under an arrangement with the insurer and extra payments. It is the obligation of every business to encourage its employees to seek a medical indemnity whether providing it or not. Employees who are motivated and healthy are a sure way to grow the business.
About the Author:
Jeannie Monette likes writing reviews about insurance providers. For more details about Southern California small business medical insurance providers or to find small business group medical insurance services, please visit the MercadoInsuranceServices.com site now.
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