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Group Health Insurance

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Group Health Insurance

Group health insurance is a policy that provides healthcare coverage to a group of people, usually through their employer or membership in an organization. It's a popular way for employers to offer cost-effective healthcare benefits to their employees.

What is Group Health Insurance?

Group health insurance is a type of health insurance coverage provided by an employer or other organization to a group of individuals, typically employees and their dependents. With group health insurance, the employer negotiates with insurance providers to obtain coverage for their employees at a reduced cost than if each individual were to purchase insurance on their own. Group health insurance plans can vary in terms of coverage and cost, but they generally provide benefits such as medical, dental, and vision coverage, as well as prescription drug coverage. The cost of the insurance is often shared between the employer and the employee, with the employer typically paying a larger portion of the premium. Group health insurance is an important employee benefit and helps to provide financial protection against the high cost of healthcare.

Group health insurance offers several benefits for both employers and employees. Some of the key benefits of group health insurance include:

1.Lower Premiums: Group health insurance plans typically have lower premiums than individual health insurance

2. Wider Coverage: Group health insurance plans often provide a wider range of coverage options than individual plans, including dental, vision, and prescription drug coverage.

3. Tax Benefits: Employers can deduct the cost of providing group health insurance from their taxes, which can be a significant financial benefit.

4. Employee Retention: Offering group health insurance can be a valuable tool for attracting and retaining employees, as it is a highly sought-after benefit.

5. Better Health Outcomes: Group health insurance plans often provide access to preventative care, which can lead to better health outcomes and lower healthcare costs in the long run.

How much does Group Health Insurance cost?

The cost of group insurance is affected by various factors specific to the employer group size and location. We will consider:

  • Demographics of the insured (age, gender, marital status)
  • Income
  • Type of industry
  • Types of coverage offered (dental care, short-term disability, etc.)
  • Levels of coverage (co-pay, maximum, deductible, insured volumes, etc.)
  • Use of plan (claims experience)

Picking your group health insurance is tough, but we're here to help. We can advise you on how much coverage you need and what benefits work best for employers and employees. Contact us today to know more!

We would like to learn more about your Group Health Insurance? Schedule a call today

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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Next Business Solutions 2
We extend coverage to individuals and businesses in Melville, NY and surrounding areas.
(516) 421-6786
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