Business Insurance Overview

Business Owners need certain types of Insurances to operate their business and be competitive keeping and attracting employees. Each business needs is different and there are many Product types to consider. Here is a brief Guideline when considering Employee Benefit Plans for your business.

Category

Employee Benefit Plans

Basic

Plans

q Workers Compensation

q Medical Benefit Plans

q Section 125 (POP=Premium Only Plan)

Progressive

Plans

q Dental Benefit Plans

q Life Coverage

q Vision Coverage

q Disability Coverage

q Section 125 (FSA=Flexible Savings Accounts)

q Retirement Plans (see Retirement Plans tab)

Advance

Plans

q Executive Benefits

q Self-Funded Plans – large groups

q Section 125 Cafeteria Plans – large groups

New Development

Plans

q HSA = Health Savings Accounts

q HRA = Health Reimbursement Accounts

Benefit Extensions

q COBRA, CAL-COBRA, HIPAA (terminated benefits)

Some considerations when selecting Multiple Benefit Plans

Multiple plans with the same Health Insurance Carrier may offer premium discounts.
Not all dominant Health Insurance Carriers have competitive supplemental plans.
Supplemental plans with a different Insurance Carrier may meet benefit and cost objectives.

Comparison for the Best Solution

Basic Plans > first select the core benefits that are the most competitive by objective.
Progressive Plans > second select the supplement plans that are the most competitive by objectives.
Comparing Plans > select the combination of benefit plans that meet all objectives, such as multiple plan discounts either with one or more insurance carriers.

Just click on the TAB related to the Product Information you are interested in. Please feel free to contact us for more information or questions at our office by phone or e-mail.