Florida Group Health Insurance in Florida
Morgan Q. Moran
June 23, 2007
Florida group health insurance can cost much less than you think... Health insurance costs in Florida have been on the rise over the past decade. Employers having to shell out more and more money, while most employees feel that they are soon going to lose the battle of their employee benefits. Has your management team established specific objectives to lower your cost of healthcare? Do you have general plan reviews? Most companies these days must use health care cost management planning system to ensure they are not over spending on their employee benefits. Have your rates steadily increased over the past five years? If you have been answering yes to any of these questions you need to take a closer look at your overall health and welfare program. Find an insurance consultant at www.FloridaHealthInsuranceWeb.com that can put your problems to rest. We have proven methodolgies to decrease your health benfeits cost by a minimum of fifty percent. Can your everday broker do this? Remeber we get paid as a percentage of savings.....
Do you currently have a group Health Insurance plan with more than 50 eligible employees? Eligible is defined as an employee working more 35 hours per week and having passed the employee waiting period. Companies may exclude part-time, seasonal, temporary and casual employees. We will use the term, company, to refer to the business carrying the insurance on their employees.
Florida group health insurance plans with more than 50 employees are thought of as being a large group health insurance beneit plan and unlike small groups are not guaranteed issue. Most large groups are subject to medical underwriting. Your company can be declined or rated based on the prior claims experience. All Large groups typically have employee rates that are based on a composite rating. The rates could be two, three or four tier. Two tier is a rate for employees and a rate for families. Three tier might also break out a rate with dependents. Four tier would usually be an employee rate, employee and spouse rate, employee and children rate and employee, spouse and children rate (family). With a composite rate the insurance company or HMO has calculated a rate that would apply to an employee regardless of age, sex or location.
The final composite rate is usually determined by the actual group of enrolled employees. This can make getting a precise rate quote difficult if not impossible in some cases. A business won't know exactly the census of enrolled employees until they fully enroll. This is one of the reasons quotes have a disclaimer stating that the actual final rate is determined by enrollment. The larger the business looking for insurance the less this matters. Very large companies can receive accurate rate quotes upfront.
Do you have a bad past claims history? This can play a huge role in determining if an insurance company is willing to offer insurance and at what rate. Underwriters will want to have as much information as possible. Sometimes insurance companies will quote without having this, but the danger is, the information would be asked at enrollment. If there have been health problems, the underwriter may decide to decline or rate up the company. Benefit personnel could find themselves in a predicament caused by agents anxious to get the company to commit, only to have an underwriter decline or raise the rate. Plans are usually scheduled to replace an existing health plan at renewal, leaving the company little opportunity to look elsewhere. It is wise to be sure the agent is provided good information and be sure the agent also gives the information to the insurance company.
Most of today's business enviroment argues against using any "pre-packed" approach to address their employee benefit problems. Florida Health Insurance Web's consulting philosophy is that employee benefits and business risk should be viewed and managed as a system, that fits your specific business plan. Furthmore, it should also complement managements's objectives in meeting that plan and with no short or long term conflicts. Let us examine your problem in the larger business framework and give you a cost savings solution that will define your bottom line. See www.FloridaHealthInsuranceWeb.com for more details.
Do you currently have a group Health Insurance plan with more than 50 eligible employees? Eligible is defined as an employee working more 35 hours per week and having passed the employee waiting period. Companies may exclude part-time, seasonal, temporary and casual employees. We will use the term, company, to refer to the business carrying the insurance on their employees.
Florida group health insurance plans with more than 50 employees are thought of as being a large group health insurance beneit plan and unlike small groups are not guaranteed issue. Most large groups are subject to medical underwriting. Your company can be declined or rated based on the prior claims experience. All Large groups typically have employee rates that are based on a composite rating. The rates could be two, three or four tier. Two tier is a rate for employees and a rate for families. Three tier might also break out a rate with dependents. Four tier would usually be an employee rate, employee and spouse rate, employee and children rate and employee, spouse and children rate (family). With a composite rate the insurance company or HMO has calculated a rate that would apply to an employee regardless of age, sex or location.
The final composite rate is usually determined by the actual group of enrolled employees. This can make getting a precise rate quote difficult if not impossible in some cases. A business won't know exactly the census of enrolled employees until they fully enroll. This is one of the reasons quotes have a disclaimer stating that the actual final rate is determined by enrollment. The larger the business looking for insurance the less this matters. Very large companies can receive accurate rate quotes upfront.
Do you have a bad past claims history? This can play a huge role in determining if an insurance company is willing to offer insurance and at what rate. Underwriters will want to have as much information as possible. Sometimes insurance companies will quote without having this, but the danger is, the information would be asked at enrollment. If there have been health problems, the underwriter may decide to decline or rate up the company. Benefit personnel could find themselves in a predicament caused by agents anxious to get the company to commit, only to have an underwriter decline or raise the rate. Plans are usually scheduled to replace an existing health plan at renewal, leaving the company little opportunity to look elsewhere. It is wise to be sure the agent is provided good information and be sure the agent also gives the information to the insurance company.
Most of today's business enviroment argues against using any "pre-packed" approach to address their employee benefit problems. Florida Health Insurance Web's consulting philosophy is that employee benefits and business risk should be viewed and managed as a system, that fits your specific business plan. Furthmore, it should also complement managements's objectives in meeting that plan and with no short or long term conflicts. Let us examine your problem in the larger business framework and give you a cost savings solution that will define your bottom line. See www.FloridaHealthInsuranceWeb.com for more details.
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