The Central Valley of California has some great options when it comes to group insurance and employers who offer health benefits to their employees tend to see less turnover.
You attract and retain the most qualified employees. The perceived value of employee benefits has been boosted by people’s recent concerns about Health Care Reform and slow job growth. The number of employees who agree that benefits are a “very important reason” they joined or stayed with a company has risen significantly, according to MedLife 12th Annual US Employee survey.
In the Modesto, California area, there are several options when it comes to health insurance carriers. Not only do you have access to HMOs (Health Management Organizations), you also have access to PPOs (Preferred Provider Organization). The difference between an HMO and PPO is convenience.
With an HMO, usually everything is contained in one building, example Kaiser Permanente. Your doctor will refer you to a specialist, only if they feel it is necessary. You will have to take an active role in your healthcare and be your own advocate.
With a PPO, you will have a Primary Care Physician (PCP), example Anthem Blue Cross. You can go to a specialist at your discretion, provided they are part of your network.
Most employers will go with one carrier and one plan, not giving their employees really a choice in their health benefits. There is another option available, an employer can choose to go with a Private Exchange and give their employees a buffet of options.
With a private exchange, the employer will pick which single tier or pick two neighboring tiers and how much they want to contribute; at least 50% of the employees premium. The employee then can pick either the base plan or decide to “buy up” to a richer plan, based on their needs. This allows employees within the same company to go with either an HMO or PPO. There is no extra work for the employer, there is one invoice each month to the private exchange, and they will handle the rest.
Let us know if you would like to explore your options when it comes to your Group Health Benefits.
George Beach, Owner/Broker
George William Beach Insurance Services