Employee Benefits Packages and Group Health Insurance Plans
Serving Washington State and the communities of:
Vancouver WA, Camas WA, Washougal WA, Battle Ground WA, Salmon Creek WA, Hazel Dell WA, La Center WA, Ridgefield WA, Woodland WA, Longview WA, Kelso WA, Centralia WA, Chehalis WA, Grand Mound WA, Olympia WA, Tacoma WA, Seattle WA, and surrounding cities.
In order to better serve their clients in Southwest Washington, Montgomery & Graham is excited to announce the opening of a new office in Vancouver Washington.
Employee benefits are something that most businesses must manage no matter where you live. While they are an important, few employers have the time and resources to sit down and properly manage them. Montgomery & Graham understands this and has dedicated itself to innovative employee benefits planning.
Montgomery & Graham's innovative insurance strategies included:
- Health Reimbursement Arrangements (HRAs)
- Self-Funded Healthcare Insurance
- Health Savings Account Plans
- Employee Wellness and Corporate Wellbeing Packages
- Risk Management
- Auto & Home Insurance
- GPS Fleet Management
- Individual & Family Healthcare Insurance
Group Health Care Options
For employee group health insurance, there are two categories: large group insurance and small group insurance. The category of insurance is determined by the number of employees in the company. A company with less than 50 employees is considered small group insurance. A company with more than 50 employees would be considered large group insurance. The rates are different for large group insurance and small group insurance, as are the requirements.
Group health insurance is provided by an employer to its employees, and often to the families of the employees. This insurance may be a policy that the employer purchases from an insurance company, or in some cases is self-funded and it sets funds aside to pay for medical expenses of those covered by the group policy.
Group health insurance may be offered to employees at no cost, but often is offered at reduced rate to the employees, or a rate that is better than what an individual might get if they were to get a policy on their own.
Group medical insurance is often less expensive per individual than it would be for a private policy. This is due in part the employer subsidizing the rates, and in part to the better rates that the insurance company gives for the large policy.
"What is Coinsurance?", "What is an EOB?", "What is a PPO?" Confused about common health insurance benefits terms? These FAQs cover the basics to take the mystery out of coverage terms
As an employer, you want employees to understand and appreciate the substantial value of their benefits. It is important that employees understand their benefits when they are enrolling to ensure they make the best choice for themselves, their family, their lifestyle and their budget.
What is Health maintenance organization (HMO)? Or how about Preferred provider organization (PPO)? This article defines managed care and several other terms related to medical insurance.