What Is Employer Group Health Insurance?

Medical Expenses are increasingly tough for individuals to cover, and sometimes premiums put a strain on an individual and family. A great way to attract and retain quality employees is to offer them employer group health insurance.

Group health insurance is healthcare coverage offered to a group. In this case it is health insurance offered to employees of a particular company (employer). Group plans usually require at least 75% participation. 

As the cost of health insurance has increased over the years, most employers pay a portion of the premiums and have their employees contribute a portion as well. The employer contributions change based on the company size and industry. The bulk of employers in our area pay 75% of the premium with the employee paying 25%. However, some pay as low as 50% and others pay 100%. McGregor Benefits, during your consultation will help analyze what is the best contribution for your company. 

Small Business Health Options Program (SHOP). Historically the SHOP was only available from the WAhealthplanfinder. However, beginning in 2018, small business health coverage will no longer be available through WAhealthplanfinder due to no health insurance company offering. Employers can now purchase any plan and apply to the IRS for the tax credit. Health care tax credits for up to 50% of the premium are still available to qualified small business owners. Small business owners must pay at least half of employees’ healthcare premiums and have fewer than 25 full-time-equivalent employees who earn an average of $50,000 or less per year.

Talk with a broker or agent to find out about all your options on premium costs.

Why Offer An Employer Group Plan

For employees the benefits of employer group health insurance is the plans typically have lower  premiums and richer benefits. Employer groups have access to lower deductibles, lower copays and many more benefit options than an employee could purchase on their own. Networks options are typically more robust as well. Many times employer’s premiums are lower than what the employee could have found on their own. 

For employers the benefits of employer group health insurance plans are employee appreciation, security, and productivity.

Employer Group Health Requirements

Many people assume that businesses are required to offer healthcare coverage, but that is not true. Businesses with fewer than 50 full-time equivalent employees do not have to provide coverage. Those that meet this requirement are fined if they do not offer healthcare coverage for employees. See Group Coverage Basics for more detail, or reach out to our local employer group health insurance agents.

If an employer with 2-50 full-time employees decides to offer coverage, then their participating members are guaranteed coverage regardless of their current health. There are no pre-existing conditions or waiting periods. 

Group of employees in and office talking about group health insurance

Need Employee Benefits Consulting?

Happy with your benefit offerings, but want to work with our agency? We can help. Simply contact our office for a broker of record letter, which allows us to offer these services to you now.

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Jim McGregor
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Don Childs Insurance Agent
Don Childs
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Employee Benefits Services We Offer

Medical Insurance

Medical insurance, also known as health insurance, reimburses the insured for expenses incurred from illness or injury or pays the care provider directly for those expenses.

Life Insurance

Offer employees the option to protect their family & assets in the event of the employee’s death with group life insurance plans like term or permanent life insurance policies.

Dental Insurance

Dental insurance helps you pay for routine exams to root canals. However, group dental coverage often offers much more than individual dental insurance.

Vision Care Insurance 

Vision insurance often covers routine eye health expenses such as eye exams, contact lens & fittings, eyeglass lenses and frames, and may provide a discount on LASIK procedures.

Short Term Disability

Offer workers a portion of their salary if they are unable to work for a short period – typically three to six months.

Long Term Disability

Offer workers a portion of their salary if they are unable to work for longer periods – typically over six months.

Self Funding Health Insurance

Reduce insurance costs for you & employees, and customize the plans that you offer to your employees.

Supplemental Voluntary Benefits Plans

  • Life Insurance
  • Vision Insurance
  • Dental Insurance
  • Disability
  • Cancer & Critical Illness Insurance
  • Accident Insurance

Included In Your Employer Group Insurance Plans

Technology

Tired of all the paper forms? We offer online benefits, HR onboarding, compliance resources & ACA analytics.

Open Enrollment

Our producers hold enrollment meetings so your employees understand the benefits and take the time to answer all questions and concerns.

Annual Renewal

The moment we receive your renewal we will analyze the marketplace. We will present options so you can offer affordable benefits that are in line with your company’s expectations

Claims

We have helped thousands of employees with claim issues. We understand the claim issue pitfalls, encourage your employees to call us for help and we will call the insurance carrier on their behalf.

All Year

Send us your enrollment forms and terminations. We are here to help make managing your benefits easier. We will take care of getting them submitted to the insurance carrier.

Start a Conversation

Tell us about your needs below. One of our experienced Producers will contact you within 1 business day to schedule a phone call to review your options.