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Initiating Group Health Coverage at Your Company

Initiating Group Health Coverage at Your CompanyYou did it. You started your own business, and it’s reached a point of consistent profitability. Yes, there’s still a lot of work to do, goals to be realized, and the occasional sleepless night, but you made your dream of owning your own business a reality. Now it’s time to do something to keep your employees motivated, engaged, and working for your company. It’s time to talk to some group health insurance brokers about setting up a medical plan.

Understanding the role of insurance brokers is an important first step. Brokers help you find a plan that is the best fit for your company. State and federal regulations, the number of employees in your company, and your budget are all important factors that they will take into consideration. Brokers can sell plans from multiple different insurance companies, so they can sort through quite an array of options to find the best plans to recommend.

When researching group health insurance brokers, do your homework. Ask other successful business owners for referrals. Once you’ve narrowed down your choices, call your state insurance commissioner’s department to see if brokers have any disciplinary actions on their records. Ask the brokers if you’ll have access to the level of ongoing customer support that you and your employees need. Make sure the broker you choose plans to review your company’s plan regularly to make sure it still meets your employees’ needs.

As the health insurance market becomes more complex, offering your employees a medical plan simplifies their lives. For you and your business, offering health coverage to your employees is an investment in the future. It’s a step you need to take in order to retain the top talent that contributes so much to the success of your business endeavor.

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