As a business owner or department head over human resources, you may be tasked with selecting a group health insurance plan. With so many options on the market, this task can quickly get overwhelming. To narrow down your choices and find the right plan, ask these questions when doing your research.

1. What Are the Types Available for Businesses?

Though there are several plan types, the two most common are HMOs and PPOs. A PPO is a preferred provider organization with a list of providers in a network, while a health maintenance organization means providers must be chosen from an approved organization.

2. How Many Employees Need Coverage?

Your costs are impacted by how many employees the plan will cover. There are different legal requirements for full and part-time employee coverage.

3. What Can the Employees Afford?

Health insurance premiums can be too costly for many people unless sourced through federal programs with subsidies. If an employer makes a contribution toward the plan, it can lower the cost and increase affordability.

4. What Do the Employees Prefer To Pay For?

A high premium plan might offer a low deductible, which is expenses incurred from actually receiving care. Low premiums are more affordable on a monthly basis but lead to higher deductible costs.

These questions can help you when selecting a group health insurance plan. Take into account both the company’s needs and those of the employees.

Key Questions To Ask When Choosing a Group Health Insurance Plan