Today we are going to highlight one of the insurance carriers that we utilize for Group Health Insurance and Employee Benefits. National General has been in business for over 60 years (formerly GMAC Insurance). They have an A- “Excellent” rating from A.M. Best and an A+ rating with the Better Business Bureau. This means that they are a strong company both financially and in customer satisfaction. They sell multiple types of insurance, but we are going to focus on their Health Insurance products.
When it comes to Group Health Insurance and Employee Benefits, National General’s primary focus is on self-funded products. You can read more about the benefits of self-funding HERE. They believe that this is the most realistic approach to employee health benefits as these types of plans are tailored to meet a groups needs and reflect a groups current health status. National General is also largely focused on providing small- and mid-sized groups with self-funded plans. They note that self-funding used to only be available to large groups, but their products make these plans available to small groups as well.
Group Health Insurance and Employee Benefit Cost with National General
Group Health Insurance cost containment is a concern for any business. National General places a heavy emphasis on helping employers provide affordable health insurance to their employees. Self-funded health insurance plans help them do this through underwriting groups and giving them a significant price reduction for good health. They also allow more plan flexibility which can allow groups to reduce costs by eliminating some benefits they do not need. Groups still only pay a level premium throughout the year and can even get money back at the end of the year if they have good claims experience. National General is constantly evaluating the marketplace and new products so that they can offer companies the lowest prices possible. This is an admirable train in today’s environment of continuously rising health insurance costs.
Group Health Insurance and Employee Benefit Options with National General
Many insurance companies offer a list of plans that are static, they cannot be changed. National General is unique in that plans can be tailored to meet a groups needs. You can combine any number of options to create a plan with exactly what your company needs and can afford. They also utilize some of the largest and most well known networks around, with both Aetna’s and Cigna’s networks available. Your company is not “one size fits all” so why should your health benefits be? National General’s approach is one that will save your money and let you provide better, tailored benefits. Here are some of the options:
Reference-Based Pricing with National General
National General also has a plan that uses reference-based pricing called “Core Values”. These plans pay providers a percentage of medicare for all claims. This option allows National General to offer prices even lower than their purely self-funded plan and can help groups and employees save even more money. More and more carriers are offering reference-based pricing in Georgia. This means more providers are becoming aware of how they work and what they pay. This is a good thing as it allows for more options for companies. As more hospitals and doctors accept reference-based pricing as a normal means of payment for services, your options expand. National General uses a plan administrator to help take care with payment processing so that employees will not usually need to be involved.
Plan Administration with National General
National General does plan administration differently than most fully insured insurance carriers. The good thing is that all of this is done on the back end so employers and employees will not know the difference! How the plan is administered is part of the reason why the plan is less expensive and the reason why companies can get money back at the end of the year. The chart below shows the different sections of your plan:
What Are You Waiting For?
Georgia Health Insurance can help you get a quote from National General. We know that National General will not be right for everyone, but you my be leaving money on the table by not looking at all of your options. We are confident that we can help you find a plan that will save your company and employees money while still providing the excellent benefits that you want and need.