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Health Insurance Options for Businesses

Group Health
Blue Paper

One of the most attractive options an employer has to gain and retain quality employees is a good group health insurance plan. This free white paper explores the reasons why health benefits are a win-win for employers and employees, and what options are available. Learn how offering a group health plan can help the employer by maintaining a healthier work force, assisting in recruiting top tier employee prospects and providing tax savings to the company.

Learn about the various options for basic types of health care plans, including:

  1. HMOs: Health Maintenance Organizations provide a list of available providers for employees, and generally require pre-approval for providers outside the network or for specialists.
  2. POSs: Point of Service plans are much like HMOs, but generally do not require pre-approval of outside providers, although costs for them may be higher.
  3. PPOs: Preferred Provider Organizations allow for services by out of network providers, but often offer incentives such as lower co-payments for remaining in the network.
  4. EPOs: Exclusive Provider Organizations offer lower rates but usually require use of network providers. Employees going outside the network generally bear the entire expense of their treatment.
  5. HDHPs: High Deductible Health Plans are linked to health savings accounts or health reimbursement arrangements, using pre-tax money from employers, employees or both to fund accounts from which medical expenses are paid. Insurance steps in only if the higher deductibles are met within the year.
This website contains articles posted for informational and educational value. Paychex is not responsible for information contained within any of these materials. Any opinions expressed within materials are not necessarily the opinion of, or supported by, Paychex. The information in these materials should not be considered legal or accounting advice, and it should not substitute for legal, accounting, and other professional advice where the facts and circumstances warrant.
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