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Songer Benefits, Inc. Blog

All You Ever Wanted to Know About Insurance

5 Things to Consider When Choosing a Group Health Plan

  1. Group Size

How many employees are in the group? Songer Benefits offers flexible plan designs with solutions for groups from 2 to 500 employees.

All groups that sign up for a group health plan through Songer Benefits have access to quality and affordable health benefit plans, which can help their businesses grow by attracting and retaining talent.

The Songer Benefits Self-Funded Program offers plan administration, financial protection, and dedicated customer service teams to assist members.

We define small groups as 2-50 employees, and most of our plan designs are great for small groups.

Mid-sized groups with 51 or more employees have all of the same valuable services available to small groups like plan administration, nationwide networks, and customer support. Additionally, employers may need more options and customization with more group members. Additional options are available to mid-sized groups to accommodate larger group sizes.

Knowing how many participants a group health plan will have should impact how employers and benefits advisors build their plan.

2. Employees' Needs

People have varying health needs. A great way to gauge what employees need in a health plan is to send out an anonymous survey. Including employees in decision-making can help them feel involved in their benefits. The survey can include questions such as:

  • Are you interested in joining the company's group health insurance plan?
  • Would you add a spouse or children to your coverage?
  • Do you prefer to pay lower monthly premiums and more out of pocket? Or do you prefer to pay higher monthly premiums and less out of pocket?
  • Do you prefer having a more expansive network, even if that means paying more for coverage?
  • Would you sign up for vision or dental benefits if offered?
  • Would you take advantage of wellness programs or telehealth services?

3. Demographics

It is essential and strategic to consider the age range of employees when choosing a benefits plan. Depending on the demographics of the employees, it can help estimate plan usage and what options they will benefit from the most.

4. Budget

A business's budget determines what health benefits plan will work best for the group. Employers must consider how much they are willing to contribute and if it is affordable.

One question for business owners to ask themself is, "how much will they be willing to contribute to the plan, if at all?" The Songer Benefits Self-Funded Program offers a variety of plan types, from PPO to reference-based pricing plans to help build a quality benefits plan to fit varying needs and budgets.

5. Industry

A group's industry can be a good determining factor when choosing a benefits plan. Specific industries may be more conducive to lower cost, less robust health plans than others.

Once these needs are identified, consulting with an agent can help find the best plan for the group.