Last updated 4 months ago
We live in an unpredictable world filled with endless circumstances. Without adequate health insurance, you may have difficulty paying for treatment due to an un-expected event. Learn more about the benefits of providing insurance for your employees and medical insurance terminology by clicking through the links below.
- Looking to increase workplace morale? Click here to learn how.
- Are you curious about the differences between HMOs and PPOs? Get your questions answered here.
- With co-insurance you and your insurance company split the cost of your medical bills. Learn more about co-insurance at HowStuffWorks.com.
- Did you know insuring your employees can offer your small business an excellent tax break? Learn more about this tax break at WhiteHouse.gov.
- Check out this page from the IRS to learn more about employee benefits.
For more information, call HSA Insurance at (781) 848-4950.
Last updated 4 months ago
Running a successful small business comes with endless challenges. Each day as an employer, you try to think of new ways to appeal to your clients and edge out competitors, all while trying to turn a profit. Perhaps the biggest challenge of all, however, is keeping your employees happy and healthy. Here are a few of the benefits of offering health insurance to your employees:
When an employee pays health insurance himself, the cost is often through the roof. If an employer insures all of his employees, however, the insurance company will likely offer the company a great deal. As Plus, as an employer, you will pay less for insurance as well, creating an arrangement that makes everyone happy and increases the quality of work.
- Decrease in Employee Turnover
As the owner of a small business, it’s hard to see a trustworthy and reliable employee leave to work elsewhere. Suddenly, you’re without an important team member, and you have to go through the painful process of hiring a replacement. Providing health benefits for your employees is a great way to show that they are a valuable part of your business and with their help, the business will continue to grow. Granting your employees health benefits is a great way to keep them on board so your business can continue to grow.
Under the health reform legislation signed by President Obama, all businesses now receive a tax break that covers up to 35% of the cost of employee premiums—a break that is set to increase to 50% by 2014. This makes providing your employees with health insurance beneficial for everyone involved.
If you’re ready to provide your employees with health insurance, contact HSA Insurance. We’re dedicated to working with you to give you the most cost-effective health care coverage available. Call our Massachusetts office today at (781) 848-4950 to get started.
Last updated 4 months ago
Most people understand the basics of health insurance. However, the world of health insurance is filled with dozens of terms and concepts that most people have only heard in passing. Here’s a brief guide to a few commonly used health insurance terms:
Treatments can easily cost tens of thousands of dollars, which is why most insurance companies require their clients to pay some of their own money. This money is called a deductible. You pay your deductible and your insurance company will pay the other expenses beyond the deductible.
A premium is the amount that you pay each month to keep your insurance. The premium is determined by your insurance company, and is based on a number of factors, including your age and current state of health. If you have a high deductible, your premium is usually low, and vice versa.
A health care maintenance organization, or HMO, is a group that works with your health insurance company to provide you with care when you need it. Once you select a primary care physician through your HMO, that physician will handle all of your health care needs.
A co-pay is a small amount that you pay every time that you go to the doctor or pick up a prescription. It’s generally designed to prevent policy holders from abusing their health care privileges. Though a co-pay may seem like an inconvenience, it’s nowhere near as much as the insurance company pays for a doctor’s visit or medication.
Though co-pay and co-insurance are often used interchangeably, they’re actually very different. Co-insurance is an aspect of your insurance that requires you to pay a percentage of your medical bills.
If you have other questions about health insurance terminology, contact HSA Insurance. We take special care to ensure that you understand every aspect of your insurance and receive health care coverage at an affordable rate. Give us a call at (781) 848-4950 for more information.
Last updated 4 months ago
Health insurance premiums are notoriously expensive, which is why many people rely on their employers for health benefits. Though providing your employees with health benefits may sound intimidating, it’s actually fairly easy if you work with the right insurance company.
In this short video, a small business brokerage firm executive discusses his involvement with NFP Health Services Administrators. He says that NFP Health has been instrumental in helping his clients to make the right health care choices for their employees.
If your small business is in need of health benefits, contact HSA Insurance, a division of NFP Health. Established in 1969, we’ve grown to become the largest small group benefits provider in Massachusetts and the rest of New England. Call our Massachusetts office today at (781) 848-4950.
Last updated 5 months ago
Small business owners make hundreds of choices each day, from office equipment to profit margins. Choosing an insurance plan for your employees is a major decision with significant impact on both you and the individuals who work for you. Weighing coverage and cost is a difficult balancing act necessitating a variety of considerations. Here are just a few tips to help you decide on an insurance plan for your small business employees:
1. Evaluate Employee Needs
Health insurance is one of the most valued benefits for employees. The needs of your employees should be one of the major factors considered when choosing an insurance plan. Evaluating their health insurance options can help you choose the best coverage that meets their requirements. Knowing what you need will help you narrow down the selection for the most cost-effective small business health insurance solution.
2. Research State Requirements
Each state has varying health insurance regulations. Whether it’s a basic level of coverage or a cap on premiums, you must do your research and understand what is legally required from you as an employer. Some states even offer tax benefits for companies that offer employee insurance plans.
3. Analyze Affordability
As a business owner, you understand the importance of cost/benefit analysis. As such, you should take a good look at your books to decide how much you can pay in premiums and how much you should insure.
4. Choose Insurance Type
From HMO to PPO, there are a plethora of different types of insurance plans. While HMOs are generally cheaper, they tend to be more restrictive. PPOs are less restrictive, but generally cost more for both employers and employees. Whether you’re interested in traditional or non-traditional insurance, choosing the insurance type is probably the most lengthy and comprehensive part of the decision-making process.
An experienced insurance provider can show you which products will meet you and your employees’ needs. HSA Insurance offers unparalleled health insurance and group benefit plans with excellent service at a low cost. Speak to one of our Massachusetts insurance experts by calling (781) 848-4950.
