Capital Insurance Group: Group Health Insurance Options Customized for Your Company
Benefits are a crucial component of any compensation strategy, and finding those that fit your organization is of the utmost importance, with health insurance representing the top benefit for employees. Finding the right group health coverage, particularly in this highly regulated environment, is key in offering a quality program while containing costs. At Capital Insurance Group, we represent all major insurance carriers in our area and work with them to present options that will most closely align with your goals.
Our Group Medical Programs
Capital offers a wide selection of plan options from top insurers in Michigan:
- Fully Insured Plans: Employers choose the coverage you want from a top-quality insurer, lock in an annual commitment, and pay premiums in advance. Premiums are based on the coverage you select as well as both your projected and past claims experience.
- Preferred Provider Organizations (PPO): These types of plan typically offer greater flexibility. PPO members do not have to choose a primary care physician and can refer themselves to any specialist in the PPO network. They can go to a physician outside the network, but will pay a greater portion of the bill.
- Health Maintenance Organizations (HMO): With this type of plan, employees choose one primary care physician with all health care services going through that doctor. Referrals are required before seeing any other health care professional, except in an emergency.
- Consumer Driven Health Plans: Allow members to budget their own healthcare spending. Empowers them to shop for the best value in medical care and choose less expensive treatment options if necessary. Funds are deposited into a tax-free medical savings account and may rollover to the next year depending on the account, allowing employees to build future funds.
- Health Savings Account (HSA): Tax-advantaged medical savings account available to employees who are enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit. This is an employee-owned account that stays with the employee even if they retire or leave employment.
- Health Reimbursement Accounts (HRA): Employer-funded group health plans from which employees are reimbursed tax-free for qualified medical expenses up to a fixed dollar amount per year. HRAs are designed to give employees more choice and greater control over their healthcare coverage.
- Flexible Savings Account (FSAs): These can be paired with any health plan or used alone and offer a tax-free way for employees to save for qualified expenses during a single year.
Our staff will review each type of plan with you in detail to determine what is most suited for your organization and employees.