Health Insurance for Businesses
Grow your business while we manage your health coverage
Health Insurance for Businesses
Grow your business while we manage your health coverage
Business Health Insurance Solutions
Have you decided to take the leap and work for yourself by starting your own business? Even if managing your business is currently a part-time thing, you are on the path towards working for yourself one day. Or maybe your hard work has paid off and you currently have an established business with or without employees. Regardless, having tailored options for business health insurance is essential in recruiting and retaining people with the passion, skills and talent to help your business grow.
As a business owner, you understand, more than anybody, how hard it can be to find good workers. Like finite resources, companies are always searching for punctual, resourceful, and efficient employees. One way to stand out as an employer is by integrating health care coverage into your benefits strategy. Doing so helps to assist in attracting and retaining top talent. What better way to show your future employees you have their back than literally providing health care that does just that!
At Tezana Insurance, we provide a variety of group health care options focused on shared responsibility between employers and employees, providing access to quality care while controlling costs. Reach out to one of our representatives and allow us to help provide a tailored solution of care and coverage for
your business.
Types of Options
Fully-Insured Plans
This is a more traditional approach where we at Tezana would take on the risks involved with healthcare costs. The insurance policy is partially paid for by the employees with the business covering the balance of the annual premium. Some factors the insurer uses to calculate group premiums include:
- The number of employees and their overall (health) wellness
- Average age of employees
- The employer’s previous history of claims
- Occupation types
- Coverage level and benefit add-ons
Self-Funded Plans
This plan offers more affordable rates and gives more control to the employer, though having to cover large claims is a tradeoff. While this method is more common amongst larger businesses, it is not limited to them. Small to medium-sized businesses can also leverage the affordability of this plan.
Another option is to consider the partially self-funded policy with stop-loss insurance that provides the affordability while limiting your risk should a high-cost claim occur.
Health Maintenance Organization (HMO)
HMO encompassed group coverage where members pay for specific health services through monthly premiums. One drawback of this plan is the limited number of healthcare providers and location services within the network itself.
While this tradeoff allows for more affordability when compared to other types of insurance plans, the limited number of healthcare providers and service locations can result in employees seeking treatment out of network, potentially resulting in the employee covering the entire cost of the treatment.
Preferred Provider Organization (PPO)
Like HMO, this plan also offers a network of healthcare providers and facilities. The added feature is that members are able to visit physicians or locations outside of their network without having to cover the entire cost. As a result, this plan results in higher co-pays and additional service costs but provides more freedom in being able to receive treatment outside of the network.
High-Deductible Health Plan (HDHP) with a Savings Option (HDHP/SO)
At its core, this plan offers lower premiums and higher deductibles for group members. In other words, members will end up paying more out-of-pocket before the policy covers their share. The advantage is lower monthly premiums, tailored for employees who do not utilize many medical services.
This plan can also be paired with a savings option like a health savings account (HAS). Together these accounts allow members to make tax-free contributions that can be utilized to pay for healthcare expenses from small amounts such as copays to major medical services. Since the funds accumulated roll over year after year, they make great retirement savings options as well.
Another cost-saving option is a health reimbursement account (HRA). This add-on is similar to HSAs except that the employer makes the contribution in contrast to
the employee.
“We’ll get you the best health insurance at the best price for your business!”
Getting you the best health coverage is our mission