Chancy Bella

  Businesses and Group Health Insurance Group insurance is a type of insurance plan that an employer provide the company employees at a discounted rate from insurance provider. From the term “group” itself, it simply implies that in a group insurance, employees are concerted in this plan having the same level of health coverage. Because the plan comes in bulk of people, having this plan reduces the plan premium costs and speed up the whole process in getting the approval.  The company owner can also save more money since his or her own family and himself will be covered already by the group insurance company with no additional pay on top of the basic premium of the plan. But then again, it would be better to talk with the broker or the insurance agent who’s assisting you to get the guarantee on this benefit. Benefits of Groups Health Insurance The most affordable type of health insurance available in the market is group health insurance. Providing this kind of benefit to your...

Death is inevitable, but the impact can be minimised through proper planning and awareness. Many people are the sole breadwinners in their family. Their untimely and unforeseen demise becomes detrimental for the people dependant on them. Responsible people opt for a good life insurance policy and lead a peaceful life, assured of a financial cover for their family if anything happens to them. But sometimes the best of the efforts come to a nought. It is not uncommon for insurance companies to reject a false life insurance claim. An insurance claim may get rejected for a variety of reasons, knowing them could help in avoiding common mistakes. False Information The insurance industry works on trust and proper disclosures. Concealing information even though it may seem trivial can lead to rejection of a claim. People often hide their smoking and drinking habits while filling the application, for example, of a term insurance plan . It may reduce the insurance premium but when your family ne...

Entrepreneurs may be known as natural risk-takers — after all, it takes guts to go out on your own and create something entirely from the ground up — but when it comes to life insurance, risk-taking is not an option. As an entrepreneur, you know more than anyone how integral you are to what you’ve built, and if anything should happen to you, your family and/or business can be left floundering. That’s why life insurance for entrepreneurs is essential. However, when it comes down to the wire, what kind of life insurance is best? There are a variety of policies to choose from, but for entrepreneurs, there’s one kind that stands out. What is No Exam Life Insurance? No exam life insurance is life insurance that you can get without undergoing a medical exam. This differs from traditional policies that do require a medical exam. There are many benefits of this kind of insurance. Easy approval since not much underwriting is involved Approval takes days or weeks as opposed to months You don’t h...

Small business health insurance packs a big punch. It shows that you truly care about your team’s well-being and success — both inside and outside the workplace. And when you’re just getting started with health insurance, deciding whether to go with group insurance is one of the first choices you’ll have to make. Luckily, you’ve landed in the right place. This article will break down the main benefits of group health plans, so you can make an informed decision for your team.  How do small businesses think about benefits? Let’s first lay out how employers think about the entire benefits process. The Guardian Workplace Benefits Study found that companies view offering health insurance through three vantage points: Saving as much as possible Doing everything they can for their employees Striking a balance between the two Around one in three companies care more about cost, while one in four are more focused on the value it provides to their team. And 40 percent believe it should be a h...

For business owners and employers looking to move into the future, offering   small business group health insurance  is a great first step forward. But what are the advantages of group health insurance plans for businesses? What does it take to  get started —and is there anyone out there who can help you enroll in the right plan? Read on . . . The Power of Group Health for Businesses Extending health benefits is a way to help employers: Improve employee morale Boost productivity Retain the team you have in place Recruit new hires more easily Studies have shown  that health insurance is the benefit type that matters most to employees—beating out vacation time, pensions, and even retirement benefits. Similarly,  surveys suggest  that the vast majority of potential employees would take a job with lower pay, and stick around longer, if the position came with better health benefits. Group health insurance is a powerful way to provide for the people who do great ...

  A group health plan offers coverage to a group of people, such as society members, employees of an organization, or a community.  Several large companies acquire group insurance plans for their employees. The company pays the premium for the policy on behalf of the covered employees. In most cases, at least 10 members are required to avail of a group health plan. There are numerous advantages of procuring group health insurance. Because a large number of individuals are covered under a single plan, the insurance companies offer significant discounts on the premium. Therefore, group insurance plans are more affordable when compared to an individual health insurance policy. Here are the benefits for the employees covered under a group plan: 1.     Default insurance coverage Every member in the group is automatically covered under this kind of a health plan. Therefore, employees are secured with some basic minimum coverage even when they do not have an individua...

The general idea that we have around Health Insurance is a service that allows us protection against medical bills for our health concerns.  The task of deciding the perfect health insurance plan, that suits our requirements might be confusing, especially if we don’t know all the details like coverage details, waiting periods, exclusion etc. A few factors need to be taken into consideration when deciding on a health insurance plan:  ·       For whom to purchase? – Self / Family / Employees / Members of your association  ·       Which plan to purchase? – Individual Retail Health Plan or a Group Insurance Plan  ·       What coverages should be there in the plan?  ·       What are the terms and conditions under the policy?  ·    ...

When it’s time for a business to consider buying group health insurance plans, the cost is usually the first thing that comes to mind. An affordable  group health insurance plan  is something that nearly everyone seeks.  As a small or large business, it is wise to provide your employees with quality yet reasonable health insurance options. Delivering a low cost group health plan with unique benefits and reliable coverage is one of the most recommended methods for businesses to increase employee longevity while attracting qualified individuals also interested in long-term employment.   Unfortunately, there is no quick way to calculate the costs of your desired group health plan. Some insurance brokers are able to give an estimate based on some basic information given to them by their client.  However, an accurate quote for a group health plan cannot be determined until everything included in the plan is priced out accordingly and your company’s group size is...

    If you have employees, you know how important  business health insurance  is for your benefits package. It also takes a big bite out of your budget. Selecting the right insurance for your company is extremely important for employee retention and maintaining your bottom line. Here are tips to help you find the best health insurance for your business: Know the size of the network. A popular way to lower insurance costs is opting for a smaller network of health care providers. Known as narrow provider networks, coverage is limited to a much smaller group of clinics and hospitals than traditional plans. But while the cost savings are nice, employee satisfaction is likely to decline as some of them will have to change doctors to stay in-network. When researching insurance options, be sure to compare the network size to industry averages. Watch for coverage limits. Lifetime and annual dollar limits for essential health benefits were banned in 2014, but limits still app...

Small businesses and self-employed people know the importance of business health insurance very well these days. Research shows that if employees have health benefits they value, they are happier and more satisfied. This includes dental and vision coverage. Often, self-employed and small businesses think they can’t afford small group insurance. But they can with the right plan. Here are three things to know about small group health insurance. Serves 1 to 50 people  Many people think they don’t need health insurance because they’re healthy. However, health needs are unpredictable. People can develop a chronic medical condition, or require dental or vision care, at any time. These unexpected expenses can wipe out a person’s savings. In fact, about 137.1 million American adults have faced financial hardships due to medical bills. Small group health insurance plans are affordable because the insurance company’s risk is spread across all the members. And compared to medical, dental, an...

  It’s not an easy task to find the best life insurance policy that fits all your health and financial needs—especially considering there are over 700 life insurance companies in the US to file through.  Purchasing life insurance is a long-term commitment with serious financial variables to think about. That’s why we’ve taken two of the top life insurance companies and compared them for you.  In this article, we take a look at Penn Mutual vs MassMutual. Keep on reading to find out what they have to offer.  Penn Mutual Life Insurance Co. Originating in Philadelphia, Pen Mutual Life Insurance came about in 1847 and has sold life insurance to people for over 170 years. If you’re looking for a life insurance company with a long solid record, they’ve got it. They’re also one of the highest-rated insurance companies in their field.  A.M. Best rating of A+ (Superior) Moody’s Investors Service rating of Aa3 (Excellent) Standard & Poor’s rating of A+ (Stron...