Medical Insurance

Medical insurance has been cited by many as the single most important benefit they receive from their place of employment. In fact, medical benefits are often the deciding factor for employees debating whether or not to leave their workplace for another job. However, as medical costs skyrocket, more and more companies are losing sight of this fact and reducing the percentage of coverage they provide or even cutting medical benefits entirely. What these companies don’t realize is that, while they may be cutting costs, they are actually hurting their bottom line. Eliminating or drastically reducing medical benefits can negatively impact their relationship with their employees, a mistake that can adversely affect both productivity and job satisfaction. Companies that choose to continue to offer medical insurance not only reap the benefits of a healthy workplace, but also gain a priceless trust and loyalty among their employees that is well worth the price of an insurance plan.

There are three levels of group medical insurance coverage: small, medium, and large. Each level is defined by the number of employees, starting with small businesses with 2-50 employees. The number of employees required to be classified as a medium business varies with the insurance provider as does the number required to be considered a large business. One of the perks of small business group medical insurance is that it is guaranteed issue. Guaranteed issue means that your company cannot be denied coverage based on the pre-existing health conditions of your employees. On the other hand, group medical insurance for large companies tends to be the most flexible, and can be more easily customized to fit your company’s specific needs. William J. King & Associates is dedicated to obtaining you the plan that fulfills your company’s requirements best. Our experienced and creative team will work with you to find the perfect balance of support and cost-effectiveness for your business.

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