Group Medical

Welcome to John Franklin Insurance Agency, where we prioritize the health and well-being of your employees. In this article, we’ll explore the realm of affordable group health insurance and shed light on the crucial benefits it brings to both employers and employees.

Affordable Group Health Insurance Information Overview:

At John Franklin Insurance Agency, we specialize in providing comprehensive coverage in areas such as group health, life, dental, disability, executive/key man plans, and retirement services. Our commitment extends to offering the most competitive employee benefit packages and pricing models, whether for single or multi-state/multi-location companies. We maintain preferred relationships with numerous regional and national carriers to ensure you get the best coverage tailored to your needs.

The Importance of Group Health Insurance:

Over 60% of the U.S. population with health insurance receives coverage through an employer-sponsored group health insurance plan. This emphasizes the significance of obtaining health insurance through an employer, whether it’s a large corporation or a small business.

• Employee’s Most Important Benefit:
  • Many employees consider health insurance as the most crucial benefit offered by their job. Employers, in turn, spend billions annually on health insurance, making it a substantial part of the revenues earned by insurance companies.
• Rising Healthcare Costs:
  • In recent years, companies have faced a significant increase in healthcare costs, driven by the rising expenses of healthcare and prescription drugs. This has led some companies to adjust benefits, resulting in increased out-of-pocket expenses for employees.

Benefits for Employer and Employee:

• Attracting and Retaining Talent:
  • Employers offering comprehensive health insurance attract qualified employees and experience lower turnover rates. Many Americans remain employed by a company due to the health coverage, especially if they have pre-existing conditions that might hinder individual insurance acquisition.
• Reducing Turn-Over Rates:
  • Companies that provide extensive health insurance witness lower turn-over rates, as employees depend on these benefits. This stability can be a significant factor in reducing recruitment and training costs associated with high employee turnover.

Affordable Group Health Insurance Rates & Options:

• Eligibility and Coverage Types:
  • Affordable group health insurance rates are available for companies with 2 or more employees. Eligibility requirements may vary, and the number of employees insured determines coverage types and per-employee premiums.
• Small Business Health Insurance Plans:
  • Small businesses with 2 to 50 employees can offer small business health insurance plans. Larger corporations may have customized plans with additional benefits, including self-insurance options where the company assumes the risk of major medical claims.
• Classification Levels:
  • Health insurance companies typically have three classification levels based on the number of enrolled employees: small group, mid-size group, or large group. These classifications may vary by insurance company or state legislation.

At John Franklin Insurance Agency, we understand the importance of navigating the complexities of group health insurance. Contact us today to explore the options available for your company and provide your employees with the valuable benefit of comprehensive health coverage. We are here to guide you towards a healthier and more secure future for both your business and your team. Call or email us now for a personalized consultation.