When you are looking for group health insurance in Miami, FL for the employees in your organization, here are the 4 basic options that you should look into.
Preferred Provider Organizations (PPOs)
Although this is the most expensive group health insurance option, it may also be the one that is most attractive to potential star employees. PPOs give employees the highest level of autonomy and flexibility than any other insurance options.
Health Maintenance Organizations (HMOs)
HMOs are the most affordable option and work as a prepaid plan between the insurance company and the providers. The primary benefit of an HMO is that it helps keep healthcare costs under control.
A traditional group health insurance plan involves providers providing medical care based on the insurance company’s allowed percentage or a dollar amount deductible. For example, the insurance company might pay the first 80% and require you pay the remaining 20% of any healthcare up to your deductible.
Consumer-Directed Health Plans (CDHPs)
CDHPs involve employees having a personal healthcare account wherein they direct money from their pay. One of the advantages of a CDHP is that employees are able to direct as much or as little as they want into their account based on how much they intend to use it.
When choosing the right group health insurance in Miami, FL for your employees, you have 4 different options to choose from. Weigh the pros and cons of each type to determine what will be best for all of your employees.