At Solid Financial Solutions, we offer a range of health insurance options for both businesses and individuals. Whether you require group health insurance, dental, vision, or you’re attempting to put together an entire employee benefits package, we can help. Contact the experts at SFS today at 620-669-5454.
Group Health Insurance
Group health insurance is a single policy issued to a group of people, offering uniform healthcare benefits to all members. In most cases, these policies are purchased by employers and offered to eligible employees and their families as part of an employee benefits package. Enrolling in group health insurance generally costs participants less than what they would pay for an individual healthcare policy for two main reasons:
- The risk is spread over the whole group, as opposed to just one individual.
- Many employers pay a portion of employees’ premiums.
What are the benefits of group health insurance?
For employees, the benefits of group health insurance include the reduced price of healthcare and the ease of enrolling through their employer. For employers, the benefits range from attracting quality workers to the tax credits they can receive.
Is your business required to purchase group health insurance?
Large businesses with 50 or more employees are now required to offer group health insurance under the Affordable Care Act. Small businesses with fewer than 50 employees are not required to offer coverage, but they can qualify for tax credits to help offset the cost if they choose to offer healthcare and pay for at least half of each employee’s premium.
Are there any ways to lower the costs?
For many employers, there is only the knowledge of having either one or two options. Most understand the option of a fully insured plan where there is a premium paid and the insurance carrier assumes all the risk above the employees exposure. The main source of finding savings is to compare similar plans or increase employees’ exposure. The other option is a self insured plan. This type of plan the employer assumes the risk up to a stop loss limit. This allows an employer to not lose everything in the claim pool should the group not use it. However, an employer could have a year where they could have a larger exposure compared to a fully insured plan. Now, these are several options that are commonly known, however, there are additional options that can provide considerable more savings. Many of them can work in conjunction with fully insured or self insured plans, of which, some can even give you a good number to actually see what you can be saving. From concierge services, better administrating options, gap plans, etc. You owe it to yourself and your employees to look at all the options to see how they can benefit and save on your costs.
Contact us at 620-669-5454 to learn more about our group health insurance offerings today.
Employee Benefits Information
Comprehensive benefit packages are valuable for attracting and retaining highly qualified employees. They’re particularly valuable if benefits extend to their families. Providing a competitive benefits package will help you attract job seekers and maintain a dedicated staff.
- Workers’ compensation
- Flexible spending account
- Health savings account
Life and disability plans
- Life Insurance (employer paid and voluntary)
- Disability (employer paid and voluntary)
- Business travel
- Cancer, Heart Attack plans
- Accident plans
- Disability plans
- Critical Illness plans
- Concierge plans
- Identity Theft protection
- Legal plans
- Long Term Care
Other Types of Insurance
When it comes to dental plans there are several ways they can be set up. Obviously, this is a type of coverage that can be offered through an employer. However, you can also purchase this as an individual plan for yourself and your family members. One of the biggest things you have to watch for is the benefits that are covered in the plan. Some plans do not cover any major dental work. You also need to be aware that many plans will have a waiting period before certain benefits will pay. This is to protect the insurance company since these plans are typically guaranteed to issue.
Looking for coverage? Fill out the form below to receive a quote:
Dental Insurance Customer Service Options
Self-policy service any time of the day, directly from our website. To request a policy change on your account, click any of the following policy service options below.
Fill out the following form as completely as possible. Once you have completed the form, click the Submit button to send your information. Your request will be handled promptly.
1. Indemnity Plans – These plans pay a specific amount for each type of dental service that you receive regardless of the actual cost. For example, it may pay you $120 for a cleaning, $50 for an extraction, $250 for a root canal, etc. These types of plans can pay you directly, and you just pay the bill to the dentist. These plans can be beneficial if you like to negotiate with the dentist, or try to find a dentist that gives the best rates. These type of plans can sometimes provide as much out of pocket savings compared to a traditional plan. It just puts more responsibility on the insured.
2. Traditional Plans – These plans are the most common in many of your employer groups. It is a fee for service type of plan that pays the dentists fees up to the plans maximum. A common type of plan will pay 100% for cleanings, 80% for basics, and 50% for major work, though there are plans that are variations of this. These types of plans typically pay directly to the dentist.
3. PPO Plans – These type of plans have a specific network of dentists that contract with the carrier to accept a specific amount for each procedure. They provide a better discount for the services. If you go to a dentist that is not contracted to the plan, you may have a larger fee, and the plan usually pays a smaller percentage. For example, the plan may pay 100% for cleanings if you use a network dentist, but only pay 80% if you go to an out of network dentist. The advantage of PPO pans is they may have negotiated a deeper discount allowing you to get more procedure covered before your maximum is met.
4. No Network Plans – These plans allow you to go to any dentist. There are no networks of dentists. Many of these plans pay on a 90% scale. In other words, they pay what 9 out of 10 dentists charge. If you happen to go to the most expensive dentist, you would have an extra amount to pay for the difference. The percentages paid on these types of plans are basically the same as a PPO plan, accept there is no out of network dentists. The advantage to these type of plans is you never have to look for network dentists. This could be a great benefit if you are in rural areas where there are not many dentists available.
Vision insurance provides vision care in return for premium payments. In many cases, vision insurance covers such things as eye examinations and corrective eyewear. Exactly what your vision insurance will cover depends on the specifics of your plan and the amount of your monthly payment.
Even if you feel that you don’t need vision correction right now, preventative vision car is an essential part of any health plan. It’s important to schedule routine examinations with a doctor; if you are between 20 and 40 years of age, preventative exams are recommended every five years. If you’re over 40, you should get examined every two years.
Typical vision insurance plans include:
- Eye examinations
- Surgical procedures – including Lasik procedures where available.
- Contact Lenses
- Non-prescription sunglasses
Call our toll free number 620-669-5454 today to learn more about our vision insurance offerings and plans.