123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Insurance >> View Article

Discussing Group Insurance With An Agent Or A Broker

Profile Picture
By Author: Norris Rios
Total Articles: 572
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

The US employers are well known all over the world for providing advantageous group insurance solutions to their employees.

When you decide on group insurance in your enterprise, it is recommended to hire an insurance agent or broker. It may seem like the same thing, however there's a substantial difference between them. Agents and brokers are different from the perspective of the entity they represent. Agents are working for the insurance company, whereas brokers hold the interests of policyholders (clients). But it doesn't mean that only a broker can give you the most advantageous options, because the both will assist you with your policy in the long run. However, the first step before calling an agent or a broker is to study your local insurance market and see if there is any company that provides services meeting your exact insurance needs.

Preemptive measures

Before going to an agent or a broker with group insurance plans there are a few steps you might want to undertake in order to optimize your decision making process on this matter:

1. Outline an overall insurance plan
2. Divide ...
... the premium amounts to be paid by the employee and by the enterprise
3. Define the options to be standard in your package
4. Consider how many workers are eligible for group insurance

An overall insurance plan requires you and your workers to define what is needed with a group insurance plan. It's better to outline the standard options that you would like to see in your case, and then describe the additional ones. After you've taken this step it will be much easier for your broker or agent to provide adequate quote concerning the selection of features you want to see in your policy.

Another important aspect when outlining the plan is dividing the amount of premium an employee will pay, and how much money will the company add to it. You are free to set either the standard flat fee, or divide the premium between employees. This is where it is also very important to decide which features have to be included in the standard package, and which are add-ons that the majority of your workers doesn't feel to be necessary. For instance, if there are a lot of young women at your enterprise, it is likely that you would need substantial maternity coverage. By studying closely the situation with your staff you will be able to a good cheap health insurance coverage for your enterprise.

In case you have a small but growing business, you might want to get a less costly insurance plan in the first place and see how it corresponds to your workers' insurance needs as the enterprise evolves. Some small companies take HMO or PPO plans, and then switch to a full-scale health insurance plan for employees of their income and insurance needs demand to. It's never too late to get a more costly plan, but carrying it right from the start might be not the best idea.

Remember that the best way to get cheap health insurance for your enterprise is to adjust it to your and your employees' exact needs and select only those features, that you really feel necessary.

Total Views: 376Word Count: 538See All articles From Author

Add Comment

Insurance Articles

1. What Happens When You Don’t Insure Your Audio Gear?
Author: micheljordan4

2. The Hidden Risks Of Not Insuring Your Musical Instrument
Author: musicinstrumentsins

3. Finding The Right Financial Advisory Partner In India
Author: Drishti Desai

4. How Climate And Weather Conditions Can Affect Your Brass Instrument?
Author: victor12johnson

5. Understanding Insurance Endorsement: Types And Key Benefits
Author: Stellanova GlobalTech

6. The Impact Of Violin Music On Brain Development And Emotional Health
Author: micheljordan4

7. Playing Gigs Or Teaching? Why Professional Flutists Need Extra Coverage
Author: musicinstrumentsins

8. How To Obtain And Interpret Your Insurance Loss Run Report
Author: SourceThrive

9. Handling Out-of-network Billing In Ascs: Best Practices
Author: Charlie Robinson

10. The Importance Of Business Interruption Insurance For Music Dealers
Author: victor12johnson

11. Rhc Billing Tactics For Medicare As A Safety-net Provider - 24/7 Medical Billing Services
Author: Charlie Robinson

12. Billing And Coverage Solutions For Rhcs - 24/7 Medical Billing Services
Author: Charlie Robinson

13. From Needles To Numbers: Mastering Acupuncture Billing
Author: Charlie Robinson

14. Get Fast & Easy Unsecured Business Loan From Sanchetna Finance
Author: sanchetna

15. Bridging The Homeowners' Insurance Gap
Author: Impaakt Magazine

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: