Employee Benefits Packages

Sioux Falls Insurance Agencies For Groups

A group of people discussing healthcare | Employee Benefits Packages

A group health insurance plan is one of the benefits included in employee benefits packages. These are offered by an employer or organization to its employees and their families. Midwest Employee Benefits offers plans from all carriers targeting a market size of small and large groups.

 

A small group plan is considered 1 – 50 employees and the large group health insurance Sioux Falls SD trusts is 50 or more employees. Group plans can have one plan or multiple plan choices. These are provided by Sioux Falls insurance agencies to offer the best employee benefits packages. Read this employee website to learn more.

ACA Compliant Plans

ACA Compliant plans are group insurance plans that adhere to the Affordable Care Act (Obamacare) regulations. This Act was created to extend health coverage and expand health care eligibility. The benefits and coverage of this vary according to each plan chosen, but it must cover specific essential needs including but not limited to:

  • Emergency services
  • Hospitalization
  • Laboratory services
  • Pediatric services
  • Prescription medication

Fully-Insured Health Plan

A fully-insured health plan is the most common way to structure a health plan. This is a convenient option to add to your employee benefits packages. With this, the company or organization only needs to pay a premium to the insurance provider. The premium rates are fixed for a year, based on the number of employees enrolled in the plan each month. The employee pays any deductible amounts or co-payments required.

 Self-funded Health Plan

A Self-funded Health Plan is when an employer creates their own plan instead of purchasing a fully insured health plan from an insurance provider. This type of plan allows a company to save on premiums and control the benefits they’ll get. With this plan, there are fixed costs or variable costs.

Contact us today to learn about employee benefits packages and our other products and services.

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