PROTECTION AND ASSURANCE FOR YOUR EMPLOYEES

Your business is a multifaceted machine that requires protection at every level. The people who make your business run deserve the assurance that they are covered at all costs. At King Insurance, we understand that quality insurance coverage options for your employees will ensure that your business attracts and maintains the best workers.

At King Insurance, we work hard to provide the best insurance plans for businesses and their employees.

As an employer, you are legally mandated to provide employee benefits such as social security, unemployment insurance, and worker's compensation. In addition, benefits such as health insurance, sick leave, and vacation time are common. Still, there are uncommon benefits that you can also provide your employees, such as disability insurance, life insurance, retirement plans, and bonuses. Providing employees with more options can also make the job more appealing.

With fully insured plans, the company will pay a premium to an insurance carrier fixed based on the number of employees on the plan each month. With a self-funded plan, the company operates its health plan, and while this could save some money, it also opens up the company to risk if more claims than expected must be paid.

Group health insurance is an insurance policy or health service in which a group of employees is covered under a single policy or contract, typically provided by their employer.

Many health insurance plans have a monthly premium, along with deductibles and copays. We recommend looking at these four types of plans: a high-deductible plan with a health savings account, health maintenance organizations, preferred provider networks, and point-of-service health care plans.

It is not uncommon for people to lose their group health insurance because of a job change, job loss, or a divorce, but many can keep their coverage temporarily under the Consolidation Omnibus Budget Reconciliation Act of 1985 (COBRA). But, this act does not apply to all employers, and many states offer a continuation of coverage that is more generous than this act.

Many of those who leave group insurance will have the option to enroll in individual coverage. Individuals may be eligible for a special enrollment period to enter the individual insurance exchange and seek a government subsidy depending on their circumstances. Individual coverage alternatives become increasingly restricted after a person enrolls in COBRA or state continuation. Once COBRA coverage has started, you can only enroll during the yearly open enrollment period or at the end of the year.

When employees are offered dental insurance coverage, they may be more inclined to take advantage of the dentist's preventative service. This can save money on group medical insurance by reducing the risks of problems impacting the employee's overall health. For example, neglecting to care for one's teeth can lead to gum disease, often associated with coronary heart disease. In addition, good dental health has been linked to reducing the risk of diabetic complications.

Short-term and long-term disability plans can be great for employees, and many companies opt for this coverage as part of an employee benefits package.

On the chance that an employee becomes disabled, short-term can help them replace a portion of their income for three to six months, but only if the disability was caused in a non-work-related incident.

Long-term disability usually picks up where short-term insurance policies leave off. But, these benefits end when the employee ceases to be disabled, cannot provide proof of continuing disability, are eligible for benefits under another long-term disability plan, or reach the end of the maximum benefit period for which long-term disability benefits are payable for one continuous disability.

Many businesses are offering life insurance policies along with their other forms of insurance and benefits. This is a great way to ensure financial support for the employee's family on the chance that something would happen to them. The amount of coverage is usually small, ranging from $25,000 to a multiple of your yearly pay. In most cases, coverage is assured, which means you won't have to undergo a medical test or answer health-related questions to be eligible.

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