Group Medical/Dental/Vision

GROUP MEDICAL/DENTAL/VISION

Group medical insuranceToday’s businesses face tough new realities. Shortages of qualified people. Pressure from competitors. Investor demand to curb costs and maximize profitability. Higher-than-ever employee expectations. And complex workplace regulations.

Excellent Maryland, DC and Virginia group health insurance is one of the most attractive, valuable services you can offer your workforce. Carefully selected health benefits increase their compensation package while generating a business tax deduction for your company that reduces the cost to provide coverage. In the greater Washington, DC, area, we typically find the following health benefits offered by employers.

 

Medical Insurance

Many employers offer employees a choice between two plans, such as an HMO plan and a PPO plan, for greater flexibility. Payroll contributions are geared to encourage enrollment in the lower-cost HMO plan. Just as common are employers who offer only one plan, typically a PPO/POS. The final cost of insurance is determined by the average age of the group, the industry of the employer, the richness of the benefit provisions (deductibles, copays and coinsurance) and the claims experience of the group.

Employers usually pay around 80% of the total cost of group health insurance in Maryland, while employees pay the remaining 20% through pre-tax payroll contributions.

 

Dental Insurance

Most employers offer a dental plan which includes a PPO option, whereby employees benefit from negotiated discounts arranged between the insurance carrier and network providers. Dental plans can be offered on an employee-funded or employer-sponsored basis.

 

Vision Insurance

An eyecare benefit promotes good vision and enhances employees’ productivity and performance for a very low cost. Plans often cover a comprehensive eye exam as well as frames and lenses (or contacts). Vision plans can be offered on an employer-funded or employer-sponsored basis.

Get a Quote for Group Health Insurance Virginia
To learn more about developing a custom employee benefits package, contact Financial Brokerage Services today at (301) 320-2000. We’ll be happy to provide a comprehensive analysis and quote for your benefit needs!