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Should You Offer More Comprehensive Health Insurance Benefits for Employees After COVID-19?

COVID-19 changed what workers expect from employers. Learn how examining health insurance benefits for employees will help you attract and retain tale...
Monday, 27 June 2022

COVID-19 changed what workers expect from employers. Learn how examining health insurance benefits for employees will help you attract and retain talent.

One of the biggest challenges facing Arizona businesses as they recover from the COVID-19 pandemic is keeping employees happy, and many find that offering more comprehensive health insurance benefits for employees does just that. 

There is no denying that the pandemic has changed the landscape of what workers expect from their employers. Companies may need to reevaluate their benefits package to attract and retain the best talent. While this may include flexible schedules and remote work opportunities, one of the biggest draws to old and new employees is the amount of employer-sponsored health insurance they receive.

Health Insurance Benefits for Employees Gives You the Edge Over Your Competitors

Offering health insurance benefits for employees can provide you with the extra edge over your competition for enticing new talent and keeping your current employees happy.

However, finding the right plan for your company and employees is no simple task, as there are many variables, plans, and options to consider. The right health insurance product will meet your needs and exceed your employee's expectations.

Having an Arizona group health insurance broker guide you through the process's intricacies can save you time and money. They can quickly provide various options in health insurance benefits for employees, assist you in choosing the perfect group health insurance plan for your current and future staff, and help you make changes as your company's budget and needs evolve.

Choosing Health Insurance Benefits for Employees Is Complex

The world of employee health insurance benefits is complex and full of terminology unfamiliar to most business owners. Factors such as company size, employee needs, budget, employee age, and additional benefits, among others, will determine which health insurance plan is best for your business.  

In addition, employee benefit packages may provide a range of services, such as: 

  • Basic health care (including prescriptions, lab tests, emergencies, and more); 
  • Health and dental insurance (regular health coverage plus dental coverage);
  • Employer minimum contributions; 
  • Minimum participation requirements; 
  • Health Savings Accounts; and 
  • Gap coverage for employee deductibles. 

Related: How To Help your Millennial Employes Understand Health Insurance Benefits

Help to Select the Right Group Health Insurance for Your Business and Your Employees

When seeking help selecting health insurance benefits for employees, an Arizona business has two choices: an insurance agent or an independent group health insurance broker. 

While both roles are similar in the products they sell, product variety and bias are the main differences.

Product Variety

A group health insurance agent represents a single insurance company and only sells health insurance products from that specific company. 

In contrast, an independent group health insurance broker represents insurance products from numerous health insurance providers. Because of this, a broker will be more impartial and unbiased than a health insurance agent. Independent health insurance brokers can access a broader range of insurance products. They will have more flexibility in personalizing options to suit your needs and budget.

In a highly competitive hiring environment, the deciding factor for many candidates is the health insurance benefits included in their offer of employment. Brokers can offer you a wider selection of insurance options and products, making you company stand out against your competition to the perfect prospect.

Additional Reading: Benefits of Using a Broker to Purchase Group Health Insurance

Unbiased Guidance

An independent health insurance broker can provide valuable assistance when choosing group health insurance for your firm. A broker can explain difficult terms, describe your choices, answer questions, and guide you through the process from shopping to comparing and quoting to implementation and beyond. Working with an independent health insurance broker is particularly advantageous if you don't understand certain terms. Because your broker will always be on hand to assist with new enrollees, claims, invoicing, benefit modifications, and renewals, among other things, a broker may be considered a sort of health insurance life partner. 

Because brokers are experts in their field, they have in-depth knowledge about the plans, laws, and regulations that could impact your company, upcoming changes, and more.

Finally, brokers are experts at personalizing plans based on the needs of their clients, so they'll take into account all the factors to find a perfect solution for your business.

And the best part? There is no cost to your business for utilizing the expertise of an independent health insurance broker. 

Speak with An Independent Health Insurance Broker Today

COVID-19 has been a game-changer for many Arizona residents. Offering health insurance benefits for employees has never been more crucial for your company's success. But how do you get started? That answer is simple. Contact us today to schedule your free consultation with an independent Arizona group health insurance broker

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