Group medical insurance is one of the most common tools employers use to attract and retain employees.
Employers must meet certain rules in order to be eligible to establish a group medical insurance program. Eligible employers and employees experience pricing and tax advantages. Group medical insurance typically provide benefits to eligible employees, regardless of pre-existing medical conditions.
Preferred Provider Organization (PPO) coverage will provide employees with the flexibility to see the provider of his/her choice. Although flexibility is sacrificed with Health Maintenance Organization (HMO) coverage, employees are rewarded with low copayments.
A Health Savings Account (HSA) is a tax advantaged savings vehicle designed to support a high deductible medical plans.
A Health Reimbursement Account (HRA) is an IRS sanctioned program that will allow an employer to set aside funds to reimburse medical expenses paid by participating employees.
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For questions, medical insurance options and/or plan quotes, click here to contact Rhino Employee Benefits for assistance.
