| Employee Benefits & Group
Health Insurance |
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As the
cost of health care continues to rise, employers are seeking innovative and
cost-efficient employee benefits solutions to mange healthcare dollars.
Capstone can provide a custom designed health insurance program that may enable
your company to offer a competitive benefit package for the employee’s at the
most competitive price. Capstone works with each employer group to determine
the best plan designs for their needs.
More and
more business owners are partnering with Capstone Brokerage because our
comprehensive approach helps contain benefit costs while allowing employers to
offer quality benefit programs to their employees.
Capstone offers
our clients a full spectrum of insurance programs to fit their needs with
experience in both fully insured and self funded group health insurance plans as
well as ancillary benefits such as life, dental, vision and disability insurance
along with voluntary programs.
Group Health
Insurance
Group health insurance
can come in many forms. What form an employer chooses will vary based on:
Traditional group health
insurance comes in two types of plans:
HMO / POS plans normally utilize a
local network of physicians / hospitals and usually require the member to choose
a primary care physician (PCP) for their standard healthcare and to obtain
referrals for specialist in the HMO / POS network.
PPO plans still use a network of
physicians, this can be a local and/or nationwide networks. However, the
member is not required to choose a primary care physician (PCP) and can access
any PPO specialist with out obtaining a referral for specialists.
Consumer
Driven Healthcare (CDHC)
Is traditionally delivered
through a PPO network. The difference being is that members utilize
personal or group Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs),
or similar medical payment products to pay routine health care expenses directly
to the providers, while a High Deductible Health Plan (HDHP) protects them from
catastrophic expenses. Higher deductible insurance policies normally cost
less, however the user pays routine medical claims using a pre-funded spending
account. Access to this account is often provided through a debit card or
checks that can be written on the account, and may be provided by a bank or
insurance plan. If the balance in the account is exhausted, the user then
pays claims just like under a regular deductible. Members keep any unused
balance or "rollover" at the end of the year to increase future balances.
Wellness
Programs
Wellness Programs are
becoming an ever growing area in the Employee Benefits arena. Research has
found that a large portion of the rise in employee healthcare costs is due to
preventable lifestyle choices by employees themselves. Wellness Programs can
drive changes in employees behavior positively affecting office culture, benefit
claims costs, and workers compensations claims costs. Capstone works with many
wellness coordinators to design a wellness program that will work for our
clients.
Ancillary
Insurance Benefits
Ancillary Benefits are a vital part of a
comprehensive employee benefit program. Ancillary Benefits typically encompass:
Dental, Vision, Life, Short Term Disability, and Long Term Disability Plans.
Disability coverage is one of the most cost effective benefits a company can
offer its workforce. Such plans provide important income protection for
employers’ most valuable asset, their employees and can be offered through a
choice of employer paid, employee paid or combination of employer/employee paid
plans.
Group Dental
Insurance
Programs
offered through Capstone are among some of the best dental plans available.
Group Dental Plans offer richer benefits and do not have the waiting periods
typically found on individual dental plans. When choosing a dental plan for
your employees it is important to pay attention to the smaller details.
Group Vision Insurance
Plans differs from regular health insurance because it is a wellness benefit
that helps defray costs of eye exams, eyewear, and other vision services and is
not typically comprehensive. Many vision programs offer free exams and lenses
while capping the amount that will be paid out on frames. Some Vision Plans
utilize a doctor network while others use retail centers.
Group Life
Insurance
Life Insurance plans
are another inexpensive way to provide valuable insurance protection to a
companies employees. There are numerous ways a program can be design.
Short Term
Disability (STD)
Empowering employers to
determine the benefit level that fits budgetary considerations as well as their
employees’ needs, group STD insurance offers eligible employees income
protection insurance coverage at competitive rates. Benefits under STD plans
partially replace income lost as a result of an employee’s non-occupational
accident or illness.
Long Term
Disability (LTD)
Long-term income protection insurance coverage at competitive group rates is but
one advantage of LTD insurance. LTD pays monthly benefits to partially
replace income lost as a result of a prolonged disability. Eligibility varies
based upon an employee’s inability to perform the material duties of his/her
occupation on a full-time basis or all such duties on a part-time basis as well
as a loss in pre-disability earnings while working in any occupation. The length
of payment schedules and size of payment benefits vary depending upon the
duration of the disability and the employer’s size, respectively.
Voluntary
Insurance Plans
77% of employers offer
Voluntary Benefit Programs that are fully paid by employees through payroll
deduction.
As the U.S. health coverage
environment evolves, working Americans increasingly are turning to voluntary
employee benefits to supplement core coverage. Voluntary benefits can offer
added financial security to employees, with no direct costs incurred by
employers. Voluntary programs can include but are not limited to Limited Benefit
Plans for Part-Time Employees, Critical Illness/Cancer Insurance, Disability
Coverage, Universal and Term Life Insurance.
Capstone Brokerage
specializes in providing voluntary benefits to businesses of all sizes. Our
comprehensive approach enhances core health benefits already provided by the
employer while educating employees on the total value of their current benefits
package.
Since voluntary benefits are paid typically through payroll deductions and are
chosen at will by the employee, there is no additional cost to employers.
Voluntary Benefits can help:
- Attract and retain high quality employees
- Control the rising costs of group health insurance programs
- Educate the employees on the benefits package being provided to them
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