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Group health insurance

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Group health insurance with additional benefits, tax savings, and help with ACA compliance

Offering group health insurance makes more sense now than ever. Affordable health insurance ranked first in a national survey asking employees which benefits would entice them to stay at their current job. That’s hardly surprising, as health insurance premiums continue to rise. For an average family, annual premiums reached $19,565 in 2018*. Rising rates hurt employers too, as they paid almost $13,000 per family toward that coverage.

Paychex Insurance Agency helps you recruit and retain talented employees by offering a more affordable group health insurance program that compares with what larger companies can offer.  And with uncertainty surrounding Affordable Care Act requirements, we can provide compliance assistance that helps give you peace of mind.

Types of group health insurance plans

  • Health Maintenance Organization (HMO)

    An HMO is a group health plan in which physicians and medical personnel can either work directly for the HMO or under contract to provide medical care to its members. A primary care provider must provide a referral to see a specialist. There is often an emphasis on disease prevention and participation in programs for better health.

  • Point of Service (POS)

    POS group insurance acts as a combination of an HMO and a PPO. You must usually use a primary care provider, but you can use other network health providers, when needed, without a referral. You may also use providers outside the network without a referral, but you will pay more.

  • Preferred Provider Organization (PPO)

    In a PPO, policyholders can use any medical provider in the PPO network and pay the copayment amount for each regular service. If you choose to go to an out-of-network provider, you must often pay the doctor's fees directly and file for reimbursement from the insurance company at a greater cost. For that reason, the PPO system encourages its policyholders to see doctors and health providers within the system.

  • High-deductible health plan (HDHP)

    The HDHP features higher annual deductibles and out-of-pocket maximums for single or family coverage than other traditional health plans. However, HDHPs are usually the most affordable option that employers may offer. Depending on the HDHP you choose, you may have the choice of using in-network or out-of-network providers. Using in-network providers saves money. With the exception of preventive care, you must meet the annual deductible before the plan pays benefits. Preventive care services are generally paid as first-dollar coverage, or after a small deductible or copayment.

What are the advantages of group health insurance plans with Paychex?

  • Easily compare group health plans

    Our licensed agents build comparisons of group health plans with the features and affordability to match the needs of your business and employees.

  • Let us deal with your insurance carrier

    We coordinate with your carrier to help ensure that all the eligible employees you wish to enroll are covered and to help resolve any issues that may arise.

  • Painlessly get started and manage your group health plan

    We help enroll your employees, communicate with insurance carriers, initiate payroll deductions, and simplify plan management through our Paychex Flex® Benefits platform.

  • Simplify health plan administration through payroll integration

    We help you gain efficiency and minimize data entry errors by integrating your group health plan with Paychex payroll through Paychex Flex, our all-in-one benefits, payroll, and HR software solution.

  • Get help with ACA requirements

    Our group health insurance solutions can help you meet the reporting requirements of the ACA, from coverage adequacy standards to forms completion and submission to updates on rule changes.

Enhance your group health insurance with extended benefit plans and services

Benefit acccounts

You and your employees can potentially save on taxes through a flexible spending account (FSA), health savings account (HSA), and health reimbursement arrangement (HRA).

Section 125

Your employees and your business may also be able to save on taxes by establishing a section 125 plan, such as an FSA or premium only plan (POP).

Voluntary benefits

Paychex Insurance Agency can help you decide which voluntary benefits, such as dental or vision plans, may make sense as part of your employee benefits package.

ACA services

Get support with employer shared responsibility (ESR) requirements as part of the Affordable Care Act (ACA).

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Insights and tools to keep you informed

View more insights on topics of interest to your business on Paychex WORX.

What is a Section 125 Plan? Benefits and Options to Consider

Here's a brief rundown of the tax-saving options available with a section 125 plan that you can offer your employees.
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