As a business owner, you want to attract and retain your most important asset, the employees. In recent years, more employees are inquiring about the company’s benefits package, with health coverage usually being at the top of the list. With Harbour Health Insurance Solutions, we will help you design a benefits package that best suits your business and your employees. Our agents have the knowledge and expertise to help you decide which plan best suits your business and we will assist you with this process at NO additional cost for our services.
GROUP HEALTH PLANS
Major Medical Group Health Plans are available in South Carolina for any business that has 2 or more full-time employees. With a group health plan, the employer is required pay at least 50% of the employee-only premium, which makes it a much better option for many employees who are covered by individual plans. Also, group plans generally have a larger provider network when compared to individual plans. As the employer, you are allowed to offer multiple plan designs from which each employee can choose. Some employees may want to pay a higher premium for richer benefits, while others may prefer to pay lower premiums with less coverage. You also have the option to offer traditional plans that have copay benefits for doctor office and prescriptions, and you can offer a health plan that is compatible with a Health Savings Account (HSA). Our agents have the knowledge and expertise to help you decide which plan best suits your business and we will assist you with this process at NO additional cost for our services.
GROUP DENTAL
Group dental and vision plans are available on either an employer-paid or employee-paid basis. Benefit structures are pretty similar among the carriers. Dental plans typically cover as follows: 100% Preventive Services, 80% Basic Services, 50% Major Services. They generally cover at these percentages up to the plan’s annual maximum (usually around $1500).
DISABILITY INSURANCE
Disability insurance provides a source of income to people who are unable to work due to an accident or illness. Individuals can purchase either Short-term Disability (STD) or Long-term Disability (LTD). STD benefits begin sooner (usually 7 days) and end sooner (usually 6 months). On the other hand, LTD plans being later (usually 6 months) and last until retirement age). Often times, both STD and LTD can be blended together to optimize coverage. Disability benefits usually pay 60% of the individual’s income.
GROUP LIFE
Group Life insurance through the workplace can be provided on an employer-paid or employee-paid basis, or both. The employer can provide life insurance to employees up to a certain face amount, and the employees can have the option to purchase additional life insurance at their own cost. Generally, group life insurance is less expensive and has more lenient underwriting, which allows many individuals to get coverage if they have a medical condition that would usually deny them coverage.