Prepare a Group Health Insurance Checklist

Prepare a Group Health Insurance Checklist

Prepare a Group Health Insurance Checklist : Multi-thousand tips to make your life easier.

Companies that provide their employees excellent benefits are able to attract better workers. One much-sought-after employee benefit is a good health insurance plan. If your company plans to enroll in a group medical insurance plan, you need a checklist to help you gather information from everyone who will be included.

1. Make sure you meet the eligibility requirements for group health insurance. A minimum number of employees must sign up for group coverage. Check your state and federal laws to understand the obligations you have to employees regarding benefits.
2. Call at least three different health insurance providers and speak with an agent. Each one will give you a specific list of what they need to provide an appropriate quote. The basic information includes name, gender, age, marital status, zip code, and coverage level (single, husband and wife, parent and child, family, or declining coverage). The providers may give you a questionnaire to distribute to employees; employees must fill it out with information about their medical history.
3. Go through your office personnel records to see which employees are eligible for coverage. Eligibility is based on length of employment, not on existing medical conditions. Generally, only permanent employees who have been with the company for at least six months are eligible, regardless of medical history.
4. Based on employment eligibility for benefits, distribute a questionnaire. It should include each employee's name, address, contact numbers, gender, marital status, number and names of dependents, position, years of service or employment, and whether they wish to enroll in medical coverage. If yes, they should answer whether they are smokers and whether they have any preexisting conditions.
5. Create a spreadsheet in Excel to enter the data. You will need to enter the names of the employees, their birthdays (including year of birth), and current age. You can program the spreadsheet to automatically calculate age from the birthday and add up the total number of employees. Include a heading identifying your company and a contact person for insurance companies to reach.
6. When you submit your data to the insurance companies, ask for different quotes for different coverage levels so that your employees can choose the plan they prefer. Request quotes from at least two different HMO companies and for PPO coverage. You have a predetermined budget set for each employee, usually at least 50 percent of the cost of coverage, so employees can choose the plan they want based on the co-pay amount they are willing to pay. Choosing the cheapest group coverage may not always be to your advantage, because it can compromise the overall quality of your medical care.
7. Make a checklist of specific medical concerns that you want covered in your plan. For example, do you want to include the cost of birth control for your female employees?
8. Find out how your rates change or are affected by high-risk employees. Aside from cost and billing, find out how claims are made, whether there are any exclusions or other limits of liability, and whether there are any annual increases, renewal fees, and startup fees.

Find the best group medical insurance you can afford. Prepare your information to help the insurance agent determine a quote and the best plan for your company.