The traditional benefit plan is what most people think of when they hear "Benefits". These plans often cover your health, dental, and extended benefits. Sometimes companies also offer life, and disability insurance.
We believe in customized solutions, and work with you to build a plan that balances between employer cost and employee percieved benefits. In order to keep employees happy, and motivated we believe educating employees on the plan as well as added financial planning services are almost as important as the plan itself.
There are a few things that you need to understand when looking at these plans such as...
Deductible: A set dollar amount you will have to pay per year on a claim.
Example - $100 deductible on dental means that if you had a $1000 claim for the year, the first $100 would come out of your pocket.
Co-Insurance: A percentage of a claim that you will have to pay on all claims.
Example - 20% co-insurane on dental means that if you had a $1000 claim, $20 would come out of your pocket.
We are brokers, we work with all the insurance providers, as well work with group benefit consultants. This network allows us the experience and expertise to build you a solution you are happy with.
Here is an illustration of how money flows in a traditional insurance benefit plan...
- Company pays a premium to the insurance company.
- The insurance company then processes claims on your behalf.