Group Health Insurance Benefits

Insurance Benefits:

something that promotes well-being : useful aid : : financial help in time of sickness, old age, or unemployment : a payment or service provided for under an annuity, pension plan, or insurance policy.

 

Within a decade $1 out of every $5 spent in the U.S. economy will go for health care, with annual spending consistently growing faster than the overall economy, the federal government stated in its address in May 2006. Health care findings in the annual report, published in the second quarter of 2006 on the web site of the Journal Health Affairs, include:

  • The nation will spend $4 trillion on health care — or about $12,320 per person annually — by 2015.
  • The federal government's share of prescription drug spending will rise sharply, from 2% last year to 27% this year as the new Medicare drug program takes over payments from state Medicaid programs and from seniors who formerly bought their own.
  • Private insurance premiums rose 6.8% in 2005, well below the most recent peak in 2002, when premiums shot up 11.5%. That slowdown is expected to end by 2007, when premiums will rise faster.
  • Small businesses in the state of Indiana have been experiencing average annual increases over 15% for the past several years.

As a licensed broker, Servant HR offers group health insurance benefit management and administration as part of its full outsourced HR solution. However, some clients have shown interest in carving out this specific service, utilizing Servant HR to quote and provide insurance options for their employees. We are happy to provide this service as a carve-out option for clients desiring to work with Servant HR solely for benefits procurement.

Servant HR has the following solutions to your employee benefit needs:

  • Top-rated Health, Dental, Vision and Life Carrier Options
  • Flexible Spending and Health Savings Account Administration
  • Multiple Retirement Plan Administration