Quality in a Group Benefit Plan
How can you recognize Quality in a Group Benefit Plan?
If you're a small business in the market for group benefits, how do you choose the right plan for your organization?
One, first step is to look at the flexibility a program offers.
If someone sells you a 'package', you're probably paying for benefits you don't want or don't need . If you have a custom plan built from a wide range of coverage's, from basic to comprehensive coverage's. So flexibility and price go hand and hand.
Second, bottom line price gets the most attention, and it's clearly important. Flexible benefit options mean cost control. A good plan offers you a range of coverage's, from basic to comprehensive coverage's. So flexibility and price go hand and hand.
That's especially the case for health and dental care benefits which typically represent the largest portion of your premium. Again, a good program lets you select a level of coverage that's well defined and fits your budget.
Third, your agent should be knowledgeable about group benefits, not just offering them as a side line. For example, your agent should understand the tax implications of who pays disability premium, and be able to advise you on features like 'cost plus' from owners and key employees.
Finally, don't forget service. You'll want to choose a group plan with high standards. Expect toll free lines you and your employee scan both use to ask questions about coverage and claims. Demand quick benefit payment to limit the time you're out of pocket from expenses you've paid.
The Chamber of Commerce group insurance plan is designed with all these factors in mind.
