Healthcare

• Sign the contract before the quote expires, usually in 30 days.
• Communicate plan choices to employees.
• Distribute and collect enrollment materials for those to be covered.
• Copy and return all original materials for enrollment before the requested effective date.

• Weigh the benefits against the plan costs.
• Research the insurers:
  • Financial stability.
  • Ease of administration.
  • Overall quality of service.
• Consider cost-saving strategies.
• Review at least two or three health insurance carriers.
• Review at least two or three different health insurance plan options.

• Learn about how brokers and agents work.
• Ask for referrals from sources you trust.
• Be sure to understand any fees you may be charged in addition to the health insurance premium.

Decide how costs will be shared. Here are some items to consider:

• How much will employees contribute toward the premium?
• How much will employees have to pay for copayments or co-insurance?

Decide how important choice of providers is to you and your employees.

• Decide what type of coverage you want to provide, such as HMO, PPO, or HSA.
• Understand coverage rules and options.

• Calculate the total amount you can spend.
• Calculate per-employee cost you’re willing to spend.
• Consider cash flow issues.

Choose a date at least 30 to 60 days from when you start the process for coverage to begin.