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We provide complete knock-your-socks off service with all aspects of benefits planning and administration:
...and many other benefits and services. In spite of a shrinking small group market in Colorado, employers are still able to make choices based on the needs of their employees. Group rates are high, though, making it difficult for many employers to offer affordable group coverage. New plan designs are available that do provide some genuine rate relief, and more are becoming available. If you have not quoted other carriers in the small group market, you may be surprised. You do have options with 7 or more employees. The Colorado Division of Insurance indicates that there has been a sizable decrease in the number of small employers offering fully-insured group medical plans. This is largely due to the rise in premium rates witnessed over the last 3-4 years. Health Savings Accounts and Health Reimbursement Arrangements are available now, proving to be a relief for small employers looking for premium savings. Newer plan designs are also helping to make health insurance more affordable for many. Small group partial-self funding may be available to the small group employer as an alternative, though not without complexities of their own that make them not altogether suitable for many companies.While many employers are seeking alternatives to traditional fully-insured carrier plans, be aware that many of these 'alternatives' do not meet the guidelines for small group fully insured plans available in the State of Colorado - some are fraudulent. If in doubt, contact a professional producer, benefits consultant, or the Division of Insurance. Consider getting a second opinion before entering into any contract for medical coverage that does not fall within traditional coverage. We can provide expert assistance with helping you navigate the choices available. Many employers who have so-called "group association plans", or individual plans marketed at their place of work need to know that individual plans do not provide important or mandated benefits, such as preventive care and maternity. This could open the employer to civil liabilities, especially since individual plans sponsored or paid for with employer dollars do not qualify as group coverage in Colorado, leaving the employer liable for expensive claims. Group fully-insured, partially self-funded and fully self-insured plans available in Colorado include HMO, POS, Open Access, EPO, and PPO plans. Indemnity plans are available, as well as state-mandated Basic and Standard Indemnity, PPO, and HMO plans, down to 1 employee groups. Features include a variety of office copays, deductibles, inpatient per-admission copays, stop loss and other features. Some plans require life insurance coverage, while others do not. Some plans offer options, such as dental, vision, and additional life, as well as short and long term disability (generally, it is cheaper to shop these coverage's outside of the core medical product). For more information, review:
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