Group Medical Insurance

 

Medical insurance in America is by far one of the most controversial, sophisticated over regulated and most expensive commodities of any industry. It may even possess more abbreviated terms than any industry in America today. At International Benefits Group it is our responsibility as duly licensed insurance brokers to bring our clients information and options that are understandable, turn-key and cost effective so that they can invest their time in what they do best. Running their business.

 

Most businesses today offer their employees preferred provider plans that negotiate with physicians, hospitals and ancillary providers for lower health care costs on the employer and patient’s behalf. These “PPO” plans are provided by either insurance companies or third party claim payers also known as TPA.

 

For the past ten years HMO plans have outpaced other health insurance programs in terms of annual cost increases and overall exhausting plan management and burdensome regulation. As a result, most insurance companies have moved away from HMO offerings and have replaced them with hybrid plans known as EPO plans and of course, PPO plans. Of course these plans still can be very costly. This is why many employers are now moving to new Health Care Savings Accounts and High Deductible Health Plans.

 

As a result of federal legislation within the past decade insurance companies have  offered Health Care Savings Accounts (H.S.A.) along with High Deductible Health Plans (HDHP). These programs are designed to give an employee the opportunity to share in the risk and potential rewards of health insurance financing and consumer awareness of unnecessary or overpriced health care. By allowing the employee to share the risk and reward of individual claim utilization and cost consciousness, the employee may have an opportunity to spend less money on health care as an educated consumer and thus reallocate these funds for other financial needs down the road such as retirement.

 

We at International Benefits Group pride our firm on the expertise needed to make the right fit of health plans and plan designs for each an every client and prospective client that we represent.