This step-by-step guide will explain how to choose the right Houston health insurance advisor for your group insurance needs.
Some 48 percent of the Texas state population is covered by group health insurance. Selecting the right insurance advisor could ensure your portion of that percentage is affordable.
Key Takeaways:
Health insurance advisors must understand your group’s needs and budgetary constraints. Flexibility is equally important for small businesses. It’s critical to hire only a certified, dedicated health insurance advisor if you’re looking for affordable health insurance in Houston for your group.
Ready to find out how to select the right health insurance advisor?
Understand Your Group’s Needs
Your group health insurance needs include the preferences of your employees, factoring in their age, health condition, and budgetary constraints. What else do you need to know about securing group health insurance?
Eligibility
Under federal law, small employers are guaranteed group coverage should they choose to purchase it, regardless of the employee’s health status. The government defines a small employer as a business with 2 to 50 full-time employees.
Next, you’ll look at the eligibility of your employees. If you offer group health coverage to any full-time employee, you’ll be required to provide it to all full-time employees, so keep that in mind.
You can also offer coverage for part-time employees (individuals working 30 hours a week or less).
Regardless of your employee’s medical condition, they are eligible for coverage. Preexisting conditions won’t affect coverage.
Dependents, too, are generally eligible for coverage on group plans. Children, spouses, and even unmarried domestic partners may fall under the umbrella of eligibility.
The Affordable Care Act also applies and requires group health insurance plans in Houston to cover adult dependents through age 26.
Cost Considerations
Group health insurance costs are the results of insurance for all employees in your group. These costs include:
- Premiums
- Deductibles
- Benefits
The average monthly premium cost for employees is $475.69 per employee and $1,174.00 per family.
Generally, to determine the final group insurance cost for employers, premiums are calculated for each employee who enrolls in an employer’s health plan (plus the costs to add dependents or a spouse).
You can learn more about how health insurance rates are determined by contacting our team.
Locate Reputable Health Insurance Advisors in Houston
It’s a good idea to connect with a reputable health insurance advisor to keep your Houston health insurance costs as low as possible. Not sure where to start your search? Explore our recommendations below for where to begin your search for Houston’s best health insurance advisors.
Where To Start Your Search
NABIP-TX
“The National Association of Benefits and Insurance Professionals Texas Chapter (NABIP-TX) is a state member of the National Association of Benefits of Professionals (NABIP). They represent over 20,000 professional health insurance agents and brokers who service the insurance needs of millions of Americans,” according to their site.
The association verifies health insurance advisors listed on their site for credibility and professionalism.
Houston Chamber of Commerce
For local health insurance advisors in Houston, consider visiting the Chambers of Commerce. The Chamber lists the city’s top professionals and their certifications for you to explore.
Use the Texas Department of Insurance Site
Want to learn even more about the health insurance advisor you’re considering? Head over to the Texas Department of Insurance site to explore insurance profiles, verify an agent’s license, view authorized licensed insurance sellers in the state and much more.
A Health Insurance Advisor Checklist
Consider the following checklist to hire the best professional for your group health insurance plan.
- Experience. An experienced health insurance advisor has an extensive network you can benefit from. Their experience also helps you quickly get the coverage your group requires.
- Compliance and Legal Knowledge. Your advisor should fully understand the legal language surrounding group health insurance. They should ensure you follow state and federal health insurance laws.
- Industry knowledge. There are countless products on the market, some of which you may not know about. A professional health insurance advisor has invaluable industry knowledge to help cut costs without cutting benefits.
- Complex Understanding of Your Group Needs. Every group is different, and your advisor should consider those differences when advising you on which plan to select.
Each of these is the bare minimum you should consider for your health insurance advisor needs.
Step-By-Step Guide to Choosing A Health Insurance Advisor in Houston
Step 1. Evaluate Your Options
Ensure that your advisor meets the requirements you have for your group. Will they walk you through the benefits package options available? Are they available to answer questions 24/7? Consider these options before signing on the dotted line.
Step 2. Set Clear Objectives
What do you want your group advisor to do for you and your team? Many small businesses are looking for ongoing support and an advisor constantly looking to improve their benefits packages while keeping costs steady. Determine your objectives and then follow through with them.
Step 3. Organize Consultations
Once you’ve shortlisted your health insurance advisors, set up consultations to get to know them one-on-one. The advisors should be friendly, professional, and knowledgeable. Ask them questions directly related to your group insurance needs. How do they respond?
Step 4. Group Discussions
Discuss your findings and decisions with your entire team. Examine the offers made by the advisors and compare them to see which fits best with your organization.
Step 5. Review Customizations and Flexibility
Ensure your advisor will customize your plan to meet your group’s needs. Professional health insurance advisors also recognize that your group’s needs will change over time, and they should be prepared to meet those needs.
Step 6. Consider Costs and Value
Perhaps most importantly, can your insurance advisor meet your budget without sacrificing value? Remember, health insurance advisors aren’t paid by you. You should not have those costs passed onto your group premiums.
Step 7. Check References and Testimonials
Exploring what previous clients say about your newfound advisor is also essential. Check references and testimonials to ensure you have a qualified candidate on your hands.
Step 8. Assess Post-Sale Support
What type of support is available after the sale is made? Will the insurance agent be ready to answer your questions? Do they support your HR team? Questions like these help you narrow your options.
Step 9. Finalize The Decision
Once you feel confident about your advisor, it’s time to finalize your decision. Double-check with your team, and then make the call to your chosen health insurance advisor.
Step 10. Formalize The Partnership
All that’s left is to sign the contract and formalize the partnership with your new health insurance advisor.
Discover A Houston Health Insurance Advisor Who Works For Your Business
Small business health insurance in Houston is a complex process to tackle independently. Employer-sponsored health insurance can reduce the burden of health care for employees and your turnover rate.
Contact us if you need help finding the best group health insurance solutions. We are experienced local Houston residents who care about you and your employees. Contact us to find a small business health insurance plan that works for your team.
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