First Time Coverage
Whether your business has just opened or if it has been in operation for a while, you may wish to offer health insurance to your employees. If this area is new for you, you may not be familiar with all of the many moving parts involved with installing a new health care plan. In this case, you will enjoy the services of an experienced broker like CAP Insurance Services. We have created group insurance health plans for countless companies, and we know how to find you the most competitive rates, keep you within the law, and provide support so that your plan aligns with your goals while meeting employee expectations.
At CAP Insurance Services, we have dedicated many years to forming healthy and practical relationships with every major insurance carrier. If there is a plan available to your company, we are familiar with it, and we know all the bells and whistles. Understanding the intricate details of every major plan is major work, particularly when markets are constantly changing and plans are often getting updated and replaced. This is one area where our expertise really shines: We help you find the best plan, and we also can help you move laterally to a better one when it becomes available.
Our approach to constructing a plan will depend on a wide variety of factors. Our first step is understanding your goals and the goals of your employees. If you find that your employees are divided with respect to their needs, we have options for helping you offer multiple plans or even hybrid plans. In the latter case, an employer can sometimes provide incentives for an employee to enter a public or a private exchange to gain access to an individual plan. Regardless of the size of your company, we can often find areas of value for you that perhaps you would otherwise be unaware of.
In addition to the goals of you and your employees, we consider all vital demographic information. We consider your company’s size, and any relevant employee qualifications to ensure the most accurate results. After presenting you with a selection of the best possible options, we sit down with you and your human resources representatives to carefully explain each one until you are clear on all of the ways it can benefit you and your staff. We know you will have questions, and we are prepared to answer them.
The right healthcare plan for your employees does not simply check off a box on your to-do list. It increases the value that your employees have for the position they hold at your company. When an employee has a strong policy that provides good customer service at an affordable price, he or she will respect you more as an employer. And because we possess a thorough understanding of all available plans, we know where you can save money.
But we don’t stop there – we also provide countless additional options for coverage to fill out your plan. For example, you may wish to offer accidental death and dismembership coverage, life insurance, or short-term disability. We also can provide the best rates for dental and vision plans, and can select a plan with the right type of provider network. If you want to offer a plan that provides catastrophic coverage for your employees, we know all of the vendors. Whatever terms or options you are seeking for your plan, we can find them.
Because benefits are not taxable, you can deduct your plan as a business expense. If your employees find a plan on their own, they must pay for it with after-tax dollars. The amount of money you save them by providing a health care plan can be significant: even as high as twenty to thirty cents on every dollar spent. And you can save them the trouble of using the public exchange, which involves navigating a quagmire of bureaucracy.
Any plan that you make available to your employees must abide by every federal, state, and local law while following standard accounting practices. Although most of our clients are business-savvy, they often are not familiar with the many regulations that come with introducing a brand new healthcare plan. For this reason, utilizing an experienced vendor like CAP Insurance Services will likely save a lot of time, enabling you to focus on other essential business operations.
It is critical to understand that there are many and severe penalties for violating state and federal law. While some laws have the power to impose heavy financial sanctions, some have the power to take your business. The average cost of a lawsuit for a business is $125,000, and they can last for an entire year. Violating the Americans with Disabilities Act can cost $75,000, while each violation of the Occupational Safety and Health Act (OSHA) is $7,000. None of these include the costs associated with the improper hiring of employees, not to mention the challenges of dealing with the IRS. CAP Insurance Services keeps you in step with every facet of the law so that your company stays protected for as long as you remain in operation.
Staying in compliance, keeping up with shifting market forces, and training your leadership on the proper administration of your healthcare plan are just a few ways that we serve you after launching your plan. As time passes, you will become aware of the need to expand your policy to include other features or exploit new technologies. Because we provide you a service, we remain your loyal partner as you face new and exciting challenges. We make sure you are ready for anything, and if at any point you find yourself in an unfamiliar situation with your new policy, we are here to help.
CAP Insurance Services Holds All the Keys to Success
We know that the world of business, group health insurance is not for the faint of heart. There are many costs and nuances to account for. Who do you trust more? Your own expertise? Or the seasoned skill of a dedicated professional team with four decades of experience building and maintaining solid relationships with every insurance carrier in your market? As stated earlier, there is no plan you can purchase or build that we cannot find at the best possible rate. And our knowledge in the area of plan management is also unrivaled: We work very hard to empower you and your team so that they can make your plan work for you moving forward.
If the time has come to provide healthcare for your employees, call us for a free consultation. Let us discuss your goals while elaborating further on how we can assist you. No matter what your history is, or the unique challenges of your company and workforce, we are confident we can provide an option for you that will save you money, add value to your business, and provide crucial coverage for your employees. Let us be the strategic partner you need for your healthcare plan now, and moving forward.