Choosing the right group health insurance for your team doesn’t require mastering insurance jargon; it’s about understanding your options and asking the right questions. Fully-insured plans offer predictable costs and minimal risk, making them a dependable choice. Level-funded plans blend budgeting stability with potential savings if your team stays healthy, while self-funded plans put you in control of paying claims directly, supported by a reserve fund and third-party administration. For network structure, HMOs keep costs low but limit provider flexibility, whereas PPOs provide more freedom to choose care at a higher cost. High-Deductible Health Plans paired with Health Savings Accounts offer lower premiums and a tax-advantaged way for employees to manage expenses, encouraging mindful healthcare spending. The best plan depends on your company’s size, employee needs, and budget. Bring your broker clear data on headcount, health usage, and financial goals, and look beyond just the monthly premiums to understand each option’s true cost and value. By matching your workforce’s priorities with the right plan structure, you can create a benefits package that supports employee well-being and your business’s bottom line.
source: https://thebenefitdoctor.com/cracking-the-code-on-group-health-plan-options/
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