Offering Small Group Health Insurance
Quotes for the Self-Employed

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Group Quotations are available in virtually every state, including: California, Colorado, Florida, Illinois, Massachusetts MA, Nebraska (Omaha), North Carolina, Texas, Wisconsin...

The Questions Smart Consumer's Ask When Shopping for Quality, Low Cost Group Health Insurance:

Is the company your considering financially secure?
This is a quick and easy step that can provide you with important information. Three outstanding rating services to check with are:

• Standard and Poors (www.standardandpoors.com)
• Weiss Research (www.weissratings.com)
• A.M. Best (www.ambest.com).

How long has the company offered group health insurance products?

What is the history of the company's rate increases or decreases?
To help avoid costly rate increases, carefully consider the company's history. Often quotes that are considerably lower than market standards are followed by dramatic increases to next year's premiums. You can avoid this pitfall by knowing the facts.

What is the average turnaround time for processing a claim?
By now you should know whether or not the insurance company has the resources to pay your claims; however, it is also good to know how quickly claims are processed. When there are delays in payment; your medical provider may ask you to help facilitate payment. This can be a time-consuming project and one you will want to avoid.

Ask your agent to quote a number of different companies.
Remember to include Blue Cross and Blue Shield plans. You will find that these companies remain quite competitive.

Ask to Review Public Reports.
Many insurance carriers hire independent third parties to compile public reports. These reports answer the questions detailed above, and provide other pertinent information. Don't be shy! Ask for a copy of these reports from any insurance company you are considering.

Shop Smarter by Knowing Your Options
Below, We Summarize the Basics of Traditional Health Insurance, Preferred Provider Organizations (PPOs) and Health Maintenance Organizations (HMOs)

Whether you are considering a large or small group health insurance plan, there are three basic types of insurance to review. Let's take a closer look at your options:

Traditional Health Insurance (Fee-for-Service):

Traditional health insurance is the oldest form of health care coverage. Also known as 'Fee-for-Service' insurance, each claim is paid to your medical providers less the portion you are required to meet. It is very straightforward and provides you with great freedom of choice. Typically, you may choose any doctor and hospital of your liking. Should you decide to change doctors, you may do so without any fanfare.

Traditional insurance is also the most expensive form of health coverage. Premiums generally far exceed those of an HMO or PPO. In addition, you will find that traditional plans often provide 'weak' coverage for "well-care" services (physicals, immunizations, etc.). You will want to carefully consider what your needs are and what you can realistically afford.

Health Maintenance Organization (HMO):

Health Maintenance Organizations, also known as HMOs, are much newer to the insurance industry. This type of coverage was developed to help fight rising health care costs and provide consumers with preventative health care measures. So how does it work? First, you must choose a 'Gatekeeper Physician' from a specified listing of health care providers. Typically, he/she is your family doctor, and is responsible for coordinating your medical care utilizing a network of physicians and facilities. As stated, a strong emphasis is placed on preventative measures. Services such as physicals, flu shots, mammograms and well baby care have proven to help prevent serious illness, or allow for the diagnosis of diseases during an early treatable stage. However, there are drawbacks to this program. Your freedom of choice is limited to the network of physicians and facilities approved by the insurance company. Should you develop a serious health condition that you feel would best be treated outside of the HMO network; you must seek approval to receive care from a non-network doctor/hospital. If the HMO did not agree with your findings; you would be forced to pay for your care 'out of pocket'.

Preferred Provider Organization (PPO):

Preferred Provider Organizations, also known as PPOs, are a blending of traditional and HMO insurance coverages. You are provided with much more freedom to coordinate your own health care. However, to receive the highest level of benefits you will still need to utilize the pre-approved network of physicians and facilities. Should you opt for coverage outside of the network you will be required to pay a higher deductible and/or coinsurance amounts. In addition, you will pay higher premiums for a PPO than those of an HMO.

Managed Care Note: There is never a guarantee that your doctor/hospital will always be participating provider. You must be willing to be flexible, and work within the established (and changing) parameters. That being said, most find that the competitive premiums are worth the extra effort.

Summary

No one plan is right for everyone. It is up to you to determine which plan will best suit you, your family and your employees. By carefully weighing all your options, asking the right questions and educating yourself; you can make a smart decision that will provide you with an excellent health care plan and much needed peace of mind.

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