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Group Health Insurance (Employee Benefits)
Florida group health insurance is employer-sponsored health insurance coverage for Florida business owners, employees and often for dependents. A majority of Americans have group health insurance coverage through their own or a family member's employer-sponsored group insurance plan. Employers and employees can share insurance costs and there are special tax incentives available to businesses that provide group health insurance.
Offering group health insurance can also help you hire and retain the best workers, and the amount you pay toward employee premiums may be tax-deductible. Since no one can be turned down based on medical history, group coverage also protects workers or family members who might otherwise go uninsured.
What can be covered with a group insurance (or employee benefits) plan? A group insurance plan can include any of the following benefits: health insurance, dental insurance, disability insurance, life insurance, accidental death and dismemberment (AD&D), long term care, etc. Businesses who have group plans can also use IRS Section 125 so that the portion of premiums that employees are required to pay, if any, can be deducted from their paycheck on a pre-tax basis. If your group is large enough you may also offer a cafeteria plan.
How much does a group plan cost? The cost for group insurance depends on several factors. Some of the factors are: location, number of employees, industry, health history, and demographics. Each insurance carrier has their own formula for determining premium rates. Find out how much a plan might cost for your company by clicking the link above to request a group insurance quote from FishLadder.
Does an employer have to pay the entire premium? No. For health insurance an employer must contribute to the cost. Some employers only contribute to the employee cost and others contribute to the cost of the employee and their dependents. This is a choice made by the employer. With voluntary plans the employee pays the entire cost of the plan. The employer just makes it easy for the employees by deducting the premiums from their paycheck.
What if you already have a group plan but are not happy? You are not locked into any period that you must keep your current plan. You are free to have us check with other companies at any time.
What insurance companies will you receive rates from? FishLadder uses many different insurance carriers. We ask for rates from several carriers and then review them for the best premiums and benefits for your needs. We will show you all the companies that we received rates from but will provide detailed information on the best two or three plans. Some of the carriers that we use are:
• Aetna Health Inc.
• Aetna Life Insurance Company
• Blue Cross & Blue Shield Of Florida, Inc.
• Cigna Dental Health Of Florida, Inc.
• Cigna Healthcare Of Florida, Inc.
• Connecticut General Life Insurance Company
• Florida Combined Life Insurance Company
• Golden Rule Insurance Company
• Hartford Life And Accident Insurance Company
• Health Options, Inc.
• Humana Health Insurance Company of Florida
• Humana Medical Plan, Inc.
• Humanadental Insurance Company
• Illinois Mutual Life Insurance Company
• Lincoln National Life Insurance Company
• Time Insurance Company
• United Healthcare Insurance Company
• Unitedhealthcare Of Florida, Inc.
How can you get more information? Call our office at (941) 932-8095 (M-F 9-5), contact us at
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, or simply click the link above to request a quote online. We have many carriers that we deal with and all information is treated as confidential.
Florida Small Businesses: The Small Employers Health Care Access Act makes health insurance plans available to small-business employers regardless of the health-claims experience of a group of employees or the health status of any individual employee in that group. Here are the benefits offered by this law:
GUARANTEED ISSUE: Insurers are required to offer all health benefit plans to small-business employers with one to 50 employees on a guaranteed-issue basis. However, if you are a sole proprietor or the sole officer of your corporation seeking coverage, you are considered a “one-life group.” One-life groups must apply for coverage during an annual open enrollment period that lasts the entire month of August. Regardless of when you apply in August, your coverage will not start until the first day of October. Guaranteed issue means that the policy must be issued regardless of the employer’s or an individual employee’s claims history, preexisting condition(s) or health status. Insurers and HMOs may ask health and medical questions, but the answers cannot be used to deny enrollment. Although enrollment cannot be denied, an insured person may be subject to a waiting period before medical claims are paid for certain pre-existing conditions.
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