fULLY INSURED HEALTH INSURANCE

 Fully insured plan offerings are designed to offer coverage ranging from yearly check-ups and routine lab work to care in the event of a catastrophic event. 

This coverage typically provides support for things like preventative care, primary care and specialist visits, prescription drugs, lab work,  hospitalization, mental and behavioral health, emergency services, and rehabilitative care. 

This is by no means an exhaustive list. These comprehensive benefits are vast and provide support for members throughout every stage of their health in order to ensure access to care. 

Small group plans (for groups with 1-100 employees) have age banded rates. This means that the rate for each employee on any given plan is based entirely on their date of birth. This means that a 45-year-old employee will have the same rate as any other 45-year-old employee for a given plan. 

The rates are non-negotiable, so you can feel confident knowing that there is a fair system for the rates you are receiving and you are always getting the best price. For groups with 100+ employees, the carriers offer composite rates. These rates are decided based on a variety of factors. 

We will always work to ensure that your group is receiving the most competitive benefits and pricing to fit the needs of your business.

Fully-insured plans on the marketplace are also organized into tiers. There are Bronze, Silver, Gold, and Platinum level plans available in both the small and large group space.

 Bronze plans will typically be your “catastrophic coverage” type plans with higher deductibles and out of pocket maximums. These plans are normally the least expensive options available and are great for employees seeking low monthly premiums, but have higher costs associated up front if care is needed. 

Silver and Gold level plans are middle of the road options with a nice balance of cost-savings and benefits coverage available. These plans provide lower deductibles, office visit copays, and coinsurance with reasonable monthly premiums to provide employees with the best bang for their buck.

 Platinum level plans offer the most robust plan offerings with very low or no deductibles and low out of pocket maximums, but for a higher monthly premium. For employees who want the richest plan available or who have lots of yearly medical costs, these plans are a great fit.

There’s a wide range of fully insured benefits offerings available, please request a free consultation in order to discuss which options are the best fit for your group!

An HMO (Health Maintenance Organization)  restricts patients to a particular group of physicians called a network. PPO (Preferred Provider Organization) allows patients to choose any physician they wish, either inside or outside of their network.  

While PPOs allow for more freedom of choice than an HMO you are going to typically pay more for your monthly premium and out of pocket costs.

 Every group has different priorities and needs to fit their workforce. We are proud to work with many of the most trusted names in healthcare to ensure a high-quality solution that makes sense. 

 If your business currently offers employee benefits, we would be happy to take a look at your current plan offerings and discuss possible alternatives or solutions! 

Our team is available to conduct market analysis to see which options are most competitive in comparison to your current benefits and discuss things like cost-savings solutions or how to offer a more robust benefit to your employees. 

If you are new to employee benefits and would like to take a look at what’s available for you and your business, please get in touch. Employee benefits are a great way to attract and retain the most important asset to your business – quality employees! 

Our team at Global Anchor Solutions is available to discuss your wants and needs and find solutions that benefit your employees. We look forward to connecting.