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Group Health Insurance is the most common benefit offered by employers, as well as the most expensive benefit. Traditionally,
most health insurance plans provide comprehensive coverage with relatively low out-of-pocket expense to the employee. Although
Base and Buy-Up combinations are becoming very popular. Newspapers, magazines and medical economists alike refer to the skyrocketing
cost of medical care and health insurance. If this trend continues, virtually all the big benefits consulting firms indicate
there will likely be some radical changes to our health insurance system in the next 10 to 15 years. The 2003 Towers Perrin
Health Care Cost Survey indicated that 57% of the large and medium size firms surveyed were uncertain as to whether they would
even offer Group Health Insurance 10 to 15 years from now.
As an independent agency, Evergreen Consulting can provide satisfying insurance plans from a wide variety of financially sound
group health insurance companies and Third Party Administrators (TPA's). Since the group health insurance market is in a turmoil,
often described as a crisis, we are always on the lookout for quality, service-oriented insurance companies with the proven
ability to be creative as they apply the various cost conscious tools our clients deserve. Let us help you get the most for
the substantial health care dollars you and your employees spend each year.
Let us come alongside you and your employees and start the detailed planning for your group insurance success as early as
possible. Too many firms fall into the stressful category of those who do "Too Little Too Late". This does not have to be
the case for your Group Program.
Group Term Life Insurance is often referred to as "burial insurance". Today, many employers offer from $15,000 to $50,000
of basic group term coverage for each benefits eligible employee. Since most families need more coverage (six to seven times
the primary bread winner's salary) we often arrange to have supplemental coverage available on a guaranteed issue arrangement
in increments of $10,000. The supplemental coverage can also offer the opportunity to cover the spouse and children for appropriate
amounts that reflect up to 50% of what the employee purchases.
Employees have at least a 35% greater need for disability insurance than for life insurance-between now and age 65. Descriptive
statistics indicate that it is much more probable that an employee will become disabled for as much as a two to five year
period, between age 19 and age 65, we work to offer protection for this dangerous situation. There are very valuable combination
programs where we can arrange for both short term disability and long term disability on both an employer paid and a voluntary
basis.
Dental Insurance is often one of the most requested benefits by employees. Many employers provide dental insurance for their
employees, but a growing number of employers are moving this coverage from their core benefits to a voluntary benefit that
is paid 100% by the employee through payroll deductions. Most dental plans provide full coverage with a 100% benefit for preventive
exams & cleanings, an 80% benefit for basic services such as fillings and root canals, and 50% benefit for major services
and prosthodontics such as dentures, crowns, etc.
Some dental insurance companies provide a dental buy-up plan which allows the employer to purchase a base plan, while employees
purchase additional benefits as needed. Another newer option for dental insurance is a dual option plan that allows each employee
to choose a basic plan or a more comprehensive plan based on perceived personal needs. This is a voluntary benefit, which
means that each employee gets the important coverage needed for self and family.
Evergreen Consulting can design a group LTC Plan to help protect your employees' assets in the event of a long-term illness
that would require nursing home or home health care. Long Term Care policies will pay on a monthly basis to cover the cost
of such health care. This plan can be offered as a completely voluntary benefit, or the employer can buy a "base plan" and
include additional benefits that the employees "buy up" to suit their needs. Should you choose to offer it, employees can
also purchase Long Term Care for other family members, such as parents or grandparents.
Bencom - Employment Benefit Solutions |
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