- The size of your group: Insurance works by the law of the large numbers. The larger your group the better chance you will receive lower rates. That is why some small groups may be better off to join an organization like NBBA to take advantage of group buynig power.
- The health of your group: Even though your business cannot be turned down for pre-existing conditiong there is a chance that you may qualify for better rates if your employees are relatively healthy.
- The location of your group: Each state and region may have different ratings based on a of community rating factors.
- The age of your group: The average age of your group will have a major roll to play inn determing the overall cost of your insurance coverage.
HOW DOES BUSINESS HEALTH INSURANCE WORK?
Here are few things that you should know about Business Health Insurance.
- Business Health Insurance is guaranteed issue.
- You have to have at least one emplyee to Qualify for coverage.
- You are required to contribute to your employees premiums.
- You do not have to want until your anniversary date to change your coverage.
There are some important factors in determining the cost of your group health insurance coverage.
Why Amerus Financial Group ?
Amerus Financial Group is an independent insurance brokerage firm specializing in Health Insurance, Annuities, Life Insurance and Employee Benefits products and services for successful businesses, individuals and their families. AFG strives to build long-term relationships with clients by providing high levels of customer service and by representing the industry’s top carriers whose business philosophies complement our own.
Amerus Financial Group is an Insurance Agency that has been serving our 4000 clients for more than 20 years. Amerus specializes in Innovative Health Insurance Solutions for Individuals and Business. We are based in Lakeland, Fl with agents in 13 states. Our agents are highly trained proffesionals that understand the dynamics of the ever changing. Health Insurance Marketplace. Give us a call today at +1-800-596-1474 you will be you did.
- Our agency has the knowledge and experience to provide innovative solutions for your company.
- Our commitment to customer service affords you peace of mind knowing that if any problems arise we will deal directly with your employees and take the burden from your shoulders.
- We offer a state of the Art Enrollment system as well as professional agent to guide your employees through the enrollment process.
- We are committed to providing you the support and guidence you need to navigate through the world of employee benefits.
Fully Insured Health Insurance
This is simply an insurance program that all of the health claims risk is assumed by the Insurance Company and typically is utilized by groups that have health concerns or have an older workforce. Over the past several years companies have trended away from these plans opting instead to go with self funded or level funded plans.
Self Funded Health Insurance Plans
A Self Funded, or Self-Insured plan, is one in which the employer assumes the financial risk for providing health care benefits to its employees. In practical terms, Self-Insured employers pay for claims out-of-pocket as they are presented instead of paying a pre-determined premium to an insurance carrier for a Fully Insured plan. Typically, a self-insured employer will set up a special trust fund to earmark money (corporate and employee contributions) to pay incurred claims. These plans are usually sold to large organizations that benefit from having enough insured to mitigate the financial risks associated with the plan.
Level Funded Health Insurance Plans
A level funded health plan (also known as a partially self-funded plan) is a type of health insurance plan that combines the cost savings and customization of self-funding with the financial safety and predictability of fully funded plans. These plans have become increasingly popular in recent years for small business owners who want the benefits of a self funded program without any of the risk. Small business owners have experienced huge savings compared to traditional fully insured plans.