The Group Benefits guide
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10 Questions to Consider When Selecting
an Employee Group Benefits Plan

Prioritizing employee health is crucial. Even without formal employee benefits, your business inevitably incurs costs when an employee requires medical attention or falls ill. These costs may not always be monetary; often, they manifest as lost hours and decreased productivity. For small business owners, the current approach to employee health might be directly covering medical expenses or bearing the financial burden of health-related setbacks. However, when investing in employee benefits for your small business, it’s essential to ensure that the returns validate the expenditure. The good news is that providing employee benefits is not only beneficial for staff well-being but also a sound financial decision.

Here are 10 Questions you should consider when choosing a Group Benefits Plan

1.  What type of plan aligns best with your business’s goals and budget? 

Different businesses have varying needs and budgets. It’s essential to assess whether a traditional, high-deductible, or health savings account (HSA) compatible plan aligns with your company’s financial capabilities and long-term objectives

2.  Which services and treatments are included in the coverage?

Coverage varies among plans. Ensure that the plan encompasses essential services like hospitalization, emergency care, prescription drugs, and preventive services tailored to your employees’ needs

3. What is the annual renewal process for the plan? 

The renewal process should be straightforward and transparent. Typically, providers will review the plan’s performance and suggest adjustments based on usage, costs, and feedback.

4. Which benefits are most desired by your employees? 

Engage with your employees through surveys or feedback sessions to understand their priorities. This ensures that the chosen plan aligns with their health and wellness needs.

5. What are the costs associated with premiums and deductibles? 

Premiums are the monthly costs to maintain the plan, while deductibles are out-of-pocket expenses before the plan starts paying. It’s crucial to balance these costs to provide valuable benefits without straining the company’s finances.

6. How flexible is the plan in terms of adding or removing benefits? 

A good benefits plan offers flexibility to adapt to changing business and employee needs. Check if the provider allows modifications mid-term or only during renewal periods.

7. Are there any wellness programs or preventative care options included? 

Wellness programs can boost employee health and morale. Determine if the plan offers features like gym memberships, mental health resources, or regular health screenings.

8. How straightforward is the claims process for employees? 

A seamless claims process ensures employees can access benefits without hassle. Review the provider’s claims submission guidelines, turnaround times, and support mechanisms.

9. Are there any reviews or feedback from other businesses about the plan? 

Feedback from similar businesses can offer insights into the plan’s effectiveness and provider’s reliability. Research online reviews or seek recommendations from industry peers.

10. How does the plan support employees with chronic conditions or special needs? 

A comprehensive plan should cater to all employees, including those with specific health challenges. Check if the plan offers specialized support, resources, or coverage for chronic conditions or special needs.

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