Florida Group Health Insurance Plans

Florida Group Health Insurance

If you are searching for an affordable Florida group health insurance plan, we can help.

1. If you have group insurance now from a major carrier (i.e., Blue Cross, Aetna, etc.) and you are now on a quest to find lower rates, you have a nearly impossible task in front of you. But do not despair. We have a number of methods that can lower rates.

2. The huge rate increases you got this year will be repeated next year and the year after. You will need to get creative and work with a group health insurance specialist to get the premiums back down.

We have group insurance for any size group. However, for groups of 1, 2 or 3 employees, there are some limitations.

If you have a business in another state and need to insure employees in Florida or elsewhere, we can do it. Call us.

Give me a call for details at 800-986-4786 or
954-757-0033 in Broward

Florida Group Health Insurance - How to lower premiums

Florida Group Indemnity Plans

Using an indemnity plan for Florida group health insurance can stabilize your premiums for years to come. The core of these plans are professionally managed indemnity insurance that pay specific amounts based on a schedule.

You can use this plans as-is, combine them with a high deductible plan or critical illness coverage. It depends on your size, budget and requirements.

Use Individual Health Insurance with a List Bill

Individual Florida health insurance is generally much cheaper than Florida group health insurance. By using a single list bill for all of your employees, the healthy workers can take advantage of the low rates.

For those who cannot qualify, we have some guaranteed health insurance options. Family rates are up to 60% less expensive with this method. Plus you can insure 1099 employees as well.

Florida Group Health Insurance - Traditional Group Insurance

If you have four or more employees and either have a Florida group health insurance plan or want to obtain one, you will quickly find out that it is very expensive. We can offer the following suggestions:

1. We can write some excellent PPO plans with a higher deductible. You will still have the low copays for doctor visits and prescriptions

2. We can use an HSA (Health Savings Account) Plan.

Florida Group Health Insurance for Groups of 1, 2 or 3 employees

I am going to let you in on a little secret. Insurance agents do not make enough in commission from a group of 3 or less employees to buy lunch at a fast food restaurant. The insurance companies really don't want this business and not paying us really cuts down on the applications

We can insure most groups of 1, 2 or 3 employees. If you need a small group or guaranteed issue plans, you should call us. We will write groups of 2 or 3 in combination with other insurance. You will find that our combo packages are really not any different from larger group health insurance rates.

Lower Florida Group Health Insurance Costs with an HRA (Health Reimbursement Arrangement)

This section is complicated and we will be revising it to make it more intelligible. We have a number of "tricks" that the IRS permits to bring down group rates. Give us a call for details.

It should be obvious to everyone that moving from a lower deductible to a higher deductible will bring down the cost of health insurance. However, you might have an employee mutiny on your hands. This is where the HRA comes in.

With an HRA you put money into a spending account for the employee. They use this money to pay for medical expenses, voluntary health insurance, etc. This is entirely employer funded and the unspent money is carried over and not lost.

The HRA is authorized under section 105 of the Internal Revenue Code. This allows the employer to reimburse most employees for medical expenses on a tax-deductible basis. The HRA was expanded in July of 2002 (IRS ruling 2002-41 and notice 2002-45), which allows the option to roll over unused reimbursements for future use, by the employees. The plan is usually set up to reimburse for medical expenses associated with a health plan like doctors visits, prescriptions, etc. The plan can be designed to reimburse for other expenses under sect. 213d which include vision tests, dental, orthodontics, and much more. The great part about theses plans are that you design them. You control of how you want the plan to perform.

With the guidance of a good agent, the employer can see the effect of self-funding versus the savings in premium. For example, an employer might pay the first $500 of un reimbursed medical expenses from the HRA. The next $1,000 might be the responsibility of the employee. Afterwards, the plan kicks in and pays for all remaining expenses.

There are numerous scenarios that can be played out with this type of arrangement and we have plans that will complement them to produce the desired results.