Benefits customized to meet the needs of virtually any small business.
Offer the benefits your employees want and help keep them affordable. Benefits can be bundled in a variety of employer or employee-paid combinations to best fit your needs.
As an independent agent with more than 30 years of experience, we pride ourselves on providing businesses with real insurance solutions. If you need an innovative broker that is focused on saving you money and providing high quality benefit plans, Benefit Concepts of Wausau can help.
2020 Survey – Employees rank health benefits as one of the most important things they look for in a job, surpassing payroll.
Group Health Insurance
A Health Maintenance Organization (HMO)
An HMO group health plan requires employees to appoint a primary care physician who directs treatment utilizing service providers affiliated with the HMO. HMOs offer access to a comprehensive package of health care for a low monthly premium. A small co-payment is often required for services, depending upon the type provided.
Preferred Provider Organization
PPO group health plans offer a vast network of quality healthcare providers and facilities. Employees save the most money on healthcare if they use providers within the network, as some services may be only partially covered or not even covered at all when outside providers are used. Also, many services may not be covered if deductibles are not first met, however, the plan includes important wellness and preventative services provided outside of the deductible with a small co-pay.
Point of Service Plans (POS)
POS plans combine features of HMOs and PPOs. Most POS plans require members to choose a primary care physician from within the POS network, but allow them to use out-of-network specialists with a referral from a primary care physician. Co-payments will be higher for out-of-network services.
Federal Marketplace Plans (SHOP)
We can help you obtain the small business tax credit available to eligible employers through the Federal Marketplace, Small Business Health Options Program (SHOP). Eligible employers may have their premiums reduced by as much as 50%. You must cover at least 50 percent of the cost of employee-only health care coverage for each of your employees. You must also have fewer than 25 full-time equivalent employees (FTEs). Those employees must have average wages of less than $50,000 (as adjusted for inflation beginning in 2014) per year.
We suggest you use the Business Tax Calculator to find out if you qualify. Those who qualify will be able to purchase traditional group health plans as described above through SHOP.