Unveiling business benefits of group insurance.
By Jaclyn Roberts Parrish
In the realm of business, size often dictates available resources. However, it is not the case for important access to healthcare. Businesses can provide customized and comprehensive coverage with as few as two individuals through group insurance policies.
Cattle Raisers Insurance, a full-service insurance brokerage affiliated with Texas & Southwestern Cattle Raisers Association, says group insurance is a helpful tool for cattle raisers who want to customize their healthcare coverage, while also providing helpful tax benefits.
Executive Director of Insurance Services at Cattle Raisers Insurance Michele Woodham brings more than 25 years of comprehensive experience in both group and individual benefit product offerings.
“Being in the insurance industry, I’ve seen some devastation over the years,” Woodham says. “It’s important make insurance a priority in order to protect everything you have worked so hard for — or even generations have worked so hard for.”
Group insurance policies through Cattle Raisers Insurance can include medical services, dental and vision care for employees.
Group insurance policies help pool a large number of employees into one policy to negotiate favorable rates. By spreading the risk across a group, businesses can mitigate the financial burden of healthcare expenses and premiums can remain affordable compared to individual policies.
However, small groups can still recognize these benefits. A large part of this is due to an employer’s ability to customize coverage. Group insurance policies offer small businesses the flexibility to tailor their plans to meet unique needs and preferences.
“If you have a group larger than 10, 20 or 40 people, then that risk claim is spread across a larger population,” Woodham says. “But even in two-person group policies, the risk is spread between those two people equally and can be beneficial.”
Many small businesses also find value in group insurance policies through support from their broker, like Cattle Raisers Insurance. Dedicated customer service representatives help business owners and their employees navigate enrollment, billing and claims processing, an often overlooked benefit of insurance services.
Unlike open enrollment, group insurance policies need not be negotiated during specific windows each year. Businesses can explore group insurance policies at any time.
“A primary reason why most employers or small groups opt for a group insurance plan is appealing PPO networks, providing access to a range of providers within or outside the doctor network,” Woodham says. “Offering group insurance fosters a healthy working relationship when extended to employees, staff or family members.”
She says their goal at Cattle Raisers Insurance is to offer high-level customer service with any concern, whether it’s a claim, billing issue or coverage issue.
“My staff and I will personally handle these for our clients, rather than dealing directly with carriers like Blue Cross, United or Aetna,” Woodham says.
To learn more about the benefits of group insurance or to begin a free quote, visit cattleraisersinsurance.com.
###