Utah Group Health Insurance
Employer-led health benefits lead to employee satisfaction
It’s no secret that health insurance is one of the main attractions for full-time employees; but did you know that a 2020 survey found that 84% of people put health insurance as their most desired benefit? Businesses that want to stay competitive and retain qualified and talented employees need to seriously consider offering competitive group health insurance if they aren’t already.
However, especially for small to midsize businesses, it isn’t always easy knowing what health plans are best or what is affordable. Blackrock Benefits services help employers find the best group health insurance Utah has to offer. Our experts analyze how useful and cost-effective a plan is for the employer, the size of the company, the market and industry, and more.
What Is Group Health Insurance?
Group health insurance, also sometimes called a Group Health Plan (GHP), is a healthcare policy that is provided by employers for their employees based on their employment status. This plan offers the same level of coverage for all full-time members of the group for certain health benefits, such as doctor visits, emergency care, prescriptions, and other needs.
The employer pays for the group health insurance while both the employer and the employee help cover the premiums associated with the plan. Outside of the employee themself, family members of the employee can be added to the plan at an additional cost.
There are different kinds of group health plans, such as health maintenance organization plans (HMO), which usually have lower premiums but less flexibility, and preferred provider organization (PPO) plans, which offer greater flexibility for higher premiums. What a business owner offers to their employees will depend on budget, company size, qualifications, etc.
Why Offer A Group Health Insurance Policy?
Boost the Wellness of Your Workforce
Healthier employees who know they have coverage should they need medical assistance can manage their stress and wellness much better, which also means they will perform better at work, take fewer sick days, and have the means to do their job.
Because health benefits are so important to employees, competitive benefits are a primary reason for someone to be interested in working for your company and for an employee to stay long-term. Group insurance policies offer security and savings that employees will appreciate during their time with you.
Employers get tax deductions for the money they go towards employee monthly premiums, and the employees themselves can reduce their taxable income since premiums are paid with pre-tax dollars. For small businesses, providing health insurance can be especially challenging; but, with the right group health insurance policy, they can even qualify for a tax credit come tax season.
Health Benefits Management At Its Best
Even with all of the benefits of group health insurance, it can still be overwhelming considering the seemingly endless options and the limitations of your unique organization. Our services focus on the following strategies to ensure your money goes to the right coverage for your employees.
Educate and Inform
Many business owners don’t know where to start when it comes to selecting a group health insurance provider, especially smaller businesses. Our goal is to show employers all of their relevant options while finding an ideal recommendation for the benefits you need. That way, an employer can make an informed decision rather than a hasty or unclear one.
We use our expertise to find options that are backed with research and data, not just the biggest insurance providers out there. Some transitions from one group to another could save a company between 10-40% on healthcare costs!
All personnel at Blackrock Benefits are specially trained to find the right coverage and recommendations for your business and employees. Work one-on-one with a single specialist while having access to dozens of options for your insurance coverage and cost. We can even help you customize a group health plan to fulfill your needs without overpaying for services you don’t need.
Don’t Put Off Health Benefits Any Longer
Your employees need health insurance coverage to be satisfied and healthy, which is not only admirable, but it’s also valuable. Happier, healthier employees do better work and remain loyal for much longer when their needs are addressed.
Our experts are ready to narrow down your list of potential Utah group health insurance providers so that your employees are supported, your business is bolstered, and your budget is balanced.
Contact us today to get started! (Click Here)