HEALTH

Medical

Increased competition to attract the best employees requires employers to offer a competitive benefits package with a wide choice of coverage.

Most business owners provide health insurance through group plans. There are several types of plans to offer in addition to the newer "consumer-driven healthcare" options. Now that small businesses can purchase health insurance from the government’s marketplace, there are even more choices to navigate. Each has characteristics that will affect your choice for health insurance.

Choosing the right coverage that fits your budget can be overwhelming. At HPB Insurance, we are small enough to give you the personal attention you need when making these decisions and large enough to provide you with the services you require. For more information, call one of our insurance advisors.

Dental

According to MetLife’s annual benefits trend study, dental insurance is one of the most popular benefits offered by employers.  However, according to the U.S. Department of Health and Human Services, over 108 million Americans still do not have dental insurance.  With the labor market heating up, many employers are beginning to re-think their benefit strategies and are considering including dental coverage as an option for their employees.

Recognizing this growing need, our agency offers an array of competitively priced group dental options (both employer-paid and voluntary) as well as individual dental coverage options.  We represent top carriers like BlueCross BlueShield, UnitedHealthcare, Delta Dental, Principal and many others.

Most group dental insurance plans offer an annual (per person) benefit maximum of between $1,000 and $5,000. Plans usually cover routine preventive care (once every six months) at no cost to employees.  Basic services, like fillings, are usually covered at 80%, after a small deductible (i.e., $50 per person per year) up to the annual plan maximum. Major services, like crowns, are usually covered at 50% (after a small deductible) up to the annual plan maximum.  Some plans also cover a limited lifetime maximum benefit for orthodontic care, but usually limit orthodontic treatment to children under the age of 19.

Employees may pay for dental premiums with pre-tax dollars if your company has a Section 125 Premium Only Plan.  If you would like to see dental pricing and benefit comparisons, please contact a member of our benefits team to help you design a customized plan for your workplace.

Vision

Like dental, vision insurance plans are an extremely popular benefit.  Coverage for vision has become even more important since health insurance plans began excluding routine vision coverage for adults, after the passage of the Affordable Care Act.  As the American population continues to age, coverage for vision services will continue to grow in importance.

Our agency partners with national vision insurance providers to offer both employer-paid and voluntary vision plan options.  We represent top carriers like BlueCross BlueShield, VSP, Humana, EyeMed and many others.

Vision plan premiums are typically affordable and provide coverage for things like routine eye exams, frames, lenses and contact lenses.  When network vision providers are used, most plans cover exams for an affordable copay. Coverage for frames and/or lenses (or contact lenses) are usually capped at a maximum benefit per year.  While most plans require the use of a network vision provider to obtain the maximum plan benefits, many plans also offer limited coverage when out-of-network providers are used.

If you would like to see a pricing comparison for your company, please contact a member of our benefits team to help you design a customized plan for your workplace.

Life

Life insurance is a crucial step in planning for your future and your family’s future. The death benefit is tax-free income and can be used to cover funeral expenses, repay debt, provide education or cover other expenses your survivors may incur. There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.

Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time—like until children graduate from college or a mortgage is paid off.

In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.

Which is better? It’s hard to say, because the kind of coverage that's right for you depends on your unique circumstances and financial goals. The best way to figure out the amount and type of life insurance that makes sense for you is to speak with one of our qualified life insurance professionals.

Wellness Programs

Wellness is defined as the act of practicing healthy habits on a daily basis to attain better physical and mental health outcomes.  Some of the key benefits of a wellness program are as follows:

• Improved morale
• Better teamwork and social networks
• Increased productivity
• Reduced absenteeism
• Higher job satisfaction
• Stronger engagement

In addition to these tangible benefits, wellness programs have also been shown to lower healthcare costs.  If your goal is to lower your company’s healthcare spend, implementing a wellness program may be a solution to consider.

While most health insurance plans cover routine preventive care for free, many employers also include biometric health screenings as part of their company wellness program.  Many programs provide incentives to encourage healthy behaviors, such as discounts on gym memberships, fitness trackers or other products designed to encourage healthy lifestyle choices.

While the ROI on implementing a comprehensive wellness program is still debatable, most would agree that these programs have value.  Many insurance carriers now include wellness program templates (or even full-blown programs) at no cost for their benefit customers.

If you would like to discuss wellness ideas and strategies for your company, we can help you explore options to determine whether a wellness program is right for your workplace.

Telemedicine

Telemedicine enables patients to address routine healthcare issues (like colds, the flu, infections, allergies and insect bites) with real-time urgent care consultations (via video or phone) from a licensed medical provider.  While many insurance plans now allow patients to receive telemedicine services from their own personal physician, other carriers outsource telehealth services to national providers - - - at little to no cost to employees.

While employees love the convenience and low cost of these programs, a study by Johns Hopkins Medicine also found that telemedicine patients had 38% fewer hospital admissions - - - evidence that these programs improve access to care and save money as well.

While most telemedicine benefits focus on primary and routine care, many plans are beginning to expand services to include specialties like dermatology and behavioral health. 

If your medical plan doesn’t include a telemedicine benefit, we have access to vendors that will provide a standalone service on a fee basis. Contact us to determine whether adding a telemedicine benefit would be beneficial to your overall plan.