Many employer groups are very concerned about the ever increasing medical costs to their employees and to their firm. At Stream Benefits Group, we work with the employer to find an appropriate group medical plan that will meet the needs of the employees. When working with group health insurance plans, truly one size does not fit all.
We will work with the key insurance carriers throughout the St. Louis region and find the one that offers the best benefits for the lowest premiums, while providing excellent customer service. A few of the key insurance carriers include Anthem Blue Cross Blue Shield, Group Health Plan, United Healthcare, Assurant Health and Aetna Health Plan.
There are a number of innovative approaches that can be utilized. And two of the those concepts include Health Reimbursement Arrangements and Health Savings Accounts. Through a Health Reimbursement Arrangement (HRA) the employer is able to realize some savings through a high deductible plan, while still providing the employees with a high level of benefits through office visit, emergency room and prescription card copays.
And a Health Savings Account (HSA) provides a number of tax incentives for the employer and employee. Thought there are basically no first dollar coverage’s with an HSA, it still is a very attractive option to those willing to accept some additional risk.
There are no easy answers with group medical insurance. It is ever changing and it is important to have someone work with you that has the experience and knowledge of the industry.
