Ideas on Affordable Arizona Group Health Insurance

Arizona Small businesses have some unique challenge when considering how to best solve their employee benefits problem. Shockingly the size of the group and what percentage of employees willing to participate are factors that can wreak havoc on a small group health insurance plan. All insurance companies require that you maintain a minimum percentage of eligible employees on your health plan. A common percentage is 50 percent. If your small group should loose one employee and the percentage of employees drops below the minimum number requirement, all your employees will loose their coverage because the group will be disbanded. Why put yourself and your employees in this horrible situation, when you can institute these three ideas. Below are some great suggestions from past articles.

Individual Medical or (IM) are a type of voluntary health benefit that creates a total paradigm shift in the human resource equation. A total voluntary benefits package lifts the financial and management burden from the employer. All the owner is required to do is to payroll deduct the insurance premium of the employee each month and remit one consolidated payment to the insurance company. The employee still enjoys the benefits of the coverage and the advantage of payroll deduction. The insurance agent becomes the benefits coordinator and assists both the employees and the employer with their respective health benefits needs. It is a solution for those small businesses that can not offer benefits to their employees because the costs are prohibitive.
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HRA’s are an employer funded plan designed to reimburse employees for certain medical expenses (For a list of eligible expenses). Though an HRA is not health insurance, it is a supplemental health insurance plan that will pay for a wide range of health expenses, including an employee’s privately owned health policy premium. HRA’s are notional arrangements, meaning no funds are expensed until reimbursements are made. Those reimbursements are tax deductible to the employer and tax free to the employee. HRA’s are made available due to IRS code section 213d and IRS publication 502.
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Voluntary health insurance is a group of supplemental insurance indemnity policies that are designed to protect your employees from a variety of illnesses and calamities. National statistics show that, because these plans pay cash directly to the policy holder, employees love them. That is why there is not a single Fortune 500 company that does not offer a voluntary health plan as a part of their benefit package
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Each of these cost effective ideas can be implemented individually or all together to create a comprehensive benefits package. For additional information feel free to call me at (602) 502-3113 or fill out a confidential quote form at AzHealthNow.com