Group Health Insurance - Quincy, IL

from Winters Insurance Group

In addition to our numerous individual insurance plans, Winters Insurance Group is proud to offer a wide variety of group insurance plans, ranging from group health insurance to group dental insurance. As opposed to individual insurance, which just covers a single person, group insurance is insurance that covers a widely defined group of people, such as members of a company, members of a professional association, or members of a society. The advantage of group insurance is that grouping individuals together allows insurance companies such as ours to give lower rates to businesses. 

Trusted Group Health Insurance Company

Our health insurance company in Quincy, IL offers both fully-insured and self-insured group health insurance plans. If you’re an employer considering offering a group health insurance plan to your employees, we understand that it can be confusing, and we’re here to help guide you through all your different insurance plan options. A health insurance plan is one of the foremost things that prospective employees look for when they’re applying for new jobs, and having an enticing benefit plan can help your company bring in top talent. 

There are several different types of group health insurance plans, such as PPOs and HMOs. With group health insurance, the risk is spread throughout the company, which keeps premiums down for enrollees in the program.  

Fully-Insured Group Health Insurance Coverage

One of the types of group health insurance coverage is known as fully-insured group health insurance coverage. This is the more traditional way to provide employee benefits, and with a fully-insured health plan, the company pays a premium to the insurance carrier. As far as premiums go, the premiums are fixed for a year, based on the number of employees enrolled in the plan each month. The monthly premium only changes during the year if the number of employees enrolled in the plan changes. Then, the insurance carrier takes the premiums and pays the individual health claims based on the coverage benefits outlined in the policy. The only thing that the covered people (employees and dependents) are required to pay are the deductible amounts and copayments required for covered services. 

Self-Insured Group Health Insurance Coverage

Also known as a self-funded group health insurance plan, self-insured group health insurance is defined as when employers operate their own health plan as opposed to purchasing a fully-insured plan. Here at Winters Insurance Company, we offer these plans as well. The main advantage of self-insured group plans is that it allows employers to save the profit margin that an insurance company adds to its premium for a fully-insured plan. 

Trusted Quincy, IL Group Health Insurance Provider

Winters Insurance Group is proud to offer a wide variety of different group health insurance plans. If you’re a growing company looking for a way to bring in highly-educated and talented employees, offering either a fully-funded or self-insured group health insurance plan is an excellent way to do so. Contact our group of trusted insurance professionals in order to get your group health insurance plan started. 

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