 |
Site Map | Home |
 |
How long does it take to get a new health plan in place?
The length of time it takes to have a plan approved varies from carrier
to carrier. However, if complete documentation is provided up front, two
weeks is a typical time frame to have a plan approved. If there are individuals
who have medical conditions a carrier finds serious, extra time will be
needed to review medical records.
Can I offer an HMO and a PPO to my employees at the same time?
Yes you can. There
are a number of carriers that allow a group to offer both an HMO and a
PPO to their employees. This is an excellent opportunity for small employers
to offer their employees a choice in the type of coverage they want. These
types of plans allow an employee who is looking for a low cost, high benefit
plan and an employee who wants a higher cost, less restrictive plan to
each get the plan they want.
Do I have to offer the health plan to all of my employees?
The plan must be offered to all full-time employees. Depending on the
carrier, the employer can determine the amount of hours one must work
to be considered full-time. You also may be able to exclude certain classes
(e.g. management, line workers, office staff) from coverage. For example,
if you have both union and non-union employees you could offer the plan
to one group and not the other.
How long does it take to get approved for health insurance?
Once we have received your completed application and your check, a decision
can usually be made in about three to four weeks. In some cases an insurance
carrier will want to review your medical records. The process of requesting
and obtaining medical records can extend the waiting period by a few weeks.
IMPORTANT - NEVER CANCEL YOUR EXISTING COVERAGE UNTIL AFTER YOU HAVE BEEN APPROVED BY A NEW CARRIER, RECEIVED THE NEW CONTRACT AND APPROVED OF THE COVERAGE.
What is involved in setting up a group health insurance plan?
Setting up a plan is a fairly simple process. After providing us with
the necessary information, we will shop the market for the carriers that
meet your requirements and offer our recommendations. After you have decided
on a plan, you will need to submit applications for each employee and
one for the group itself. Upon receipt of the completed applications,
we will submit them to the carrier for approval.
Can I change my health plan off of the renewal date?
Yes. Group health insurance contracts are "unilateral." The employer agrees
only to pay the premium and the insurance company is obligated to provide
the benefits as stated in the contract. You can terminate your coverage
at any time without penalty.
Would it be less expensive to buy directly from the insurance carrier?
NO. In fact, some will not sell directly to businesses. The rates that
you receive directly from a carrier are the same rates we can provide
for you. That means our professional expertise costs you nothing! No more
calls to the 800 number and spending time in voice mail. We will do that
work for you and free you up to spend your time growing your business.
What are the advantages to working with a local broker over a national
web site?
Health insurance is a state regulated industry. That means each state
has a unique set of rules that must be followed. A East Coast broker won't
know all of the Illinios state regulations. A West Coast broker will not
know who the strongest companies are in the Chicago market. By focusing
our business in the greater Chicagoland area, we can provide our clients
with superior knowledge of the marketplace and expert personal service.