- Explore all options. There are three main categories an employer can choose from to provide employees with health insurance plans. In a defined benefit plan, an employer offers employees coverage through a group plan, and the employee chooses from the network. This is the most traditional plan. With a defined contribution plan, an employer provides the employee with an allowance instead of an insurance plan, and the employee chooses his or her plan from a number of options. A professional employer organization (PEO) plan will co-opt employees—with benefits provided by the PEO at large group rates.
- Know the ABCs of HMOs and PPOs. In order to properly present employees with the different types of health plans, it is important to know the differences between them. An HMO (health maintenance organization) is a low-cost option but limits the employee's health care network and referrals are needed to see specialists. A PPO (preferred provider organization) is a more flexible program. No referrals are needed. An employee can also go out of network, but at a higher cost. An EPO (exclusive provider organization) is a combination of an HMO and PPO. There is a network of providers like an HMO, but employees don't need a referral to seek a specialist.
- Study the competition. Offering an attractive benefits package can draw talented, competent employees to the workplace. Take a look at what the competition is doing and make your benefits stand out.
Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
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SOURCE Clarity Benefit Solutions