For as long as people have been getting health insurance through their jobs, many find themselves questioning whether or not the plan, as selected by their employer, best meets their unique health and medical needs. The process of choosing a group health plan can be nothing short of mentally exhausting, and there are always a wide range of variables in play that those on the front end never see. Complicating the issue is that, over the past seven years or so, group premium increases have forced many companies to make their decision based almost exclusively around their budget.
This can, and sadly has resulted in employees who gain little realistic benefit from the group health insurance plan they’re paying for with each check. Here are a few things to consider if you’re feeling stuck in the wrong company health plan.
Talk to Your Employer or HR Department
If you’re curious about the details of the plan your company has selected, don’t be afraid to talk to those who’ve been tasked with managing it, as well as the group agent. Knowing as much as you can about the detailed types of coverage provided, as well as how to best utilize them, can help you decide on whether or not you want to continue contributions or shop plans on your own. It’s always advised to do this as early in the process as possible.
Do a Realistic Healthcare Budget Assessment
There’s a pretty equal mix of employees who understand the shared-contribution concept, and those who do not. Most companies offering employee health insurance make rather sizable contributions towards each employee’s premium, ranging anywhere from 50 to 100 percent. The worst thing to do, would be to exit your company plan and then begin the shopping process. Also, many larger companies now factor healthcare benefits as part of an employee’s total compensation package, making that another topic to discuss with your HR department.
Talk to the Group’s Managing Agent
Most companies host an onsite group health benefits orientation these days, to officially roll out the new plan and provide an overview of benefits. This can be an excellent opportunity to get answers from the person who knows the plan better than anyone. Also, meeting the group agent can give you an additional resource to contact when you have plan- or carrier-specific questions about your coverage—especially those which might fall beyond the scope of your manager or HR contact.
Get Expert Help Comparing Group and Individual Plans
Whether you’re not comfortable discussing these matters with the higher-ups or just want an outside expert opinion from an agent specializing in employer-provided plans, Premier can help. We’re a well-established Lisle IL health insurance agency that's proudly been serving Chicago and the state of Illinois since 2003. There’s never a consultation charge and all discussions are kept in the highest confidence.
Give Premier a call today at 800-369-0287 to learn more, or write to us through our website’s secured contact page. And be sure to follow us on Facebook for up-to-date information on health insurance breaking news, events, contests and more!