Group Health Insurance Plans
Customize your group health plan based on pricing, provider networks and medical benefits.
For more than 65 years, Nixon & Lindstrom has been helping small business owners and midsize companies throughout Springfield and southwest Missouri secure affordable group health insurance coverage for their employees. As experienced brokers, we work with leading insurance carriers like Anthem BlueCross BlueShield, United Healthcare, Cox HealthPlans, Humana and Aetna to build customized group health plans. Our agents can help you compare health care plan options based on pricing, provider networks and medical benefit offerings to get the best deal for your business. Request a quote today to get started.
A group health insurance plan is a mechanism for employers to provide company-sponsored medical coverage to employees. Through these plans, the employer and employee typically split the cost of health insurance premiums. By spreading the cost across the group, more employees have access to affordable health care through a designated provider network.
Group health insurance can be structured in many different ways, depending on company size, employee needs, cost parameters, insurance carriers and many other variables. Enrollment in a group health insurance plan is not mandatory for employees, but a certain percentage of members must participate to trigger the group benefits.
Group health insurance plans are as different as the employees who enroll in them. Most plans, however, fall into four major categories. Here’s a rundown of the different kinds of plans and their defining attributes. Have questions? Contact an agent.
Health Maintenance Organization (HMO) – One of the more common types of group health plans, HMOs have a specific network of healthcare providers with agreed-upon copays and deductibles. Employees enrolled in an HMO must choose a primary care physician (PCP), but they typically enjoy lower premiums and out-of-pocket costs. Employees must stay in network to receive coverage and obtain a referral from their PCP to see a specialist.
Preferred Provider Organization (PPO) – PPOs are another popular group health insurance plan option for employers but often have higher premiums than HMOs. Like HMOs, these plans have a health care provider network, and employees who stay in network pay lower negotiated rates. However, in a PPO, employees don’t have to choose a PCP, and they can see out-of-network providers without paying full price.
Exclusive Provider Organization (EPO) – EPOs share several similarities with HMOs but generally offer lower rates than both HMOs and PPOs. Employees enrolled in EPOs don’t typically have to choose a PCP or obtain referrals to see specialists. They have the freedom to seek care outside the limited exclusive network, but it’s generally very expensive to do so.
High-Deductible Health Plan (HDHP) – HDHPs are yet another form of group health insurance available to employers looking to contain costs. These plans dictate the higher-than-normal deductible limit and out-of-pocket costs. While premiums are significantly lower, the cost of extensive medical care can be quite high under an HDHP. However, most HDHPs feature a Health Savings Account, which allows you to set aside pretax dollars for medical expenses.
Group health insurance is high on the list of sought-after employee benefits in today’s economy. Whether you’re a large or small business, offering a plan that expands access to affordable health care for your employees can be a great recruitment and retention tool. Through a Section 125 Premium-Only Plan (POP), for example, employees can pay their monthly premiums with pre-tax earnings. A well-structured, flexible group health plan will help your company attract strong candidates and keep valued employees. It also demonstrates your commitment to employee health and wellness.
Are you a small-business owner who’s shopping for a group health insurance plan? Maybe you’re a larger company looking to upgrade the one you already have. If you’re a business of any size looking to buy group health insurance, Nixon & Lindstrom can help you find the plan that makes sense for your employees and falls within your budget. Our experienced agents are dedicated to maximizing your company’s health benefits while keeping monthly premiums as low as possible. We have relationships with multiple vendors, which means more plan options for you to choose from!