If you are looking for a Group Health Insurance plan for your employees or business, there are many things to consider. First, and probably the most important is the Health Insurance Broker that you work with. There is no cost to you using a broker, and it can make a world of difference. Secondly is the plan and how it is administered. All of the plans are put out by the Dept of Insurance and have set rates. No one can get you a better rate for the same plan. The broker plays a key role in how what plan you choose and how strategic you want to get with the implementation of the plan. Also the value added services the broker provides is very important as well. Many of those services cost you nothing, but make your HR role much easier.
Group Health Plans can be offered to employees in a variety of ways. The employer is required to pay for at least 50% of the employee only premium. If an employee has family members, the cost is usually born by the employee. The employer can set a plan for the company or pick an array of plans and let the employees pick and choose what they want. Anything the employees pay on their behalf can, and should be done pre-taxed, through a section 125 plan. This also helps the employer save money on workers comp and FICA because the employees taxable wages are reduced.
Offering a Group Health Plan is a great idea if you want to attract and retain good employees. Employee Benefits are usually the second most sought after item with a new employee.