Group Health Information
What is group health insurance?
Group health insurance is a single policy issued to a group of people, offering uniform healthcare benefits to all members. In most cases, these policies are purchased by employers and offered to eligible employees and their families as part of an employee benefits package. Enrolling in group health insurance generally costs participants less than what they would pay for an individual healthcare policy for two main reasons:
- The risk is spread over the whole group, as opposed to just one individual.
- Many employers pay a portion of employees’ premiums.
What are the benefits of group health insurance?
For employees, the benefits of group health insurance include the reduced price of healthcare and the ease of enrolling through their employer. For employers, the benefits range from attracting quality workers to the tax credits they can receive.
Is your business required to purchase group health insurance?
Large businesses with 50 or more employees are now required to offer group health insurance under the Affordable Care Act. Small businesses with fewer than 50 employees are not required to offer coverage, but they can qualify for tax credits to help offset the cost if they choose to offer healthcare and pay for at least half of each employee’s premium.
Small Business Solutions; What we can do for you.
Century Total Insurance Agency specializes in managing employee benefit programs for groups with less than 100 lives. Our agency understands the many challenges facing small businesses today. Our firm will work with you to identify and manage your risks and support your business goals.
Our firm does not provide you with pre-made plans; but instead works to design a benefits plan that will meet the financial results you need while offering the coverage required by your employees.
Century Total's expertise in employee benefits, executive benefits, property and casualty offer our partner clients a unique experience with a "one stop," full service and customized benefits solution.
Contact us today for more information about group health insurance.