Get this 24pg. Special Report for free! – Designed for international groups with 2 to 500 staff overseas
WHAT YOU NEED TO KNOW WHEN CHOOSING GROUP HEALTH INSURANCE for your organization and overseas staff
The first of three important guides written to help organizations save money on their international group health insurance: “How to Choose Good Group Health Insurance,” “Advanced Tips and Techniques to Save Money on your Group Insurance,” and “Self-Funding Your Health Insurance – Is Self-Funding your Group Health Insurance right for you?”
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From Good Neighbor Insurance.
Find out if you know the best ways to shop for and choose international health insurance for your business or organization. Are you saving the most money? Is your current group insurance “off-the-rack,” or customized to fit your needs? Are you paying for benefits no one uses (or only 1-2% of your staff use) every year? We wrote this exclusive guide to help groups who are considering ways to save on their overseas health benefits including organizations that are considering group health insurance for the first time. It was written for groups with little knowledge of group health insurance, underwriting or how insurance carriers work, so should be accessible to all. At the same time, there are tips learned from other HR and Benefits Administrators that will make the guide invaluable no matter how long someone has been selecting group benefits packages.
Excerpts from our most popular, “How-To” report:
TRUE or FALSE:
“A good plan is low in deductible but covers everything.” (Do you know if this is good advice?)
Why dealing direct with a carrier may be one of the biggest mistakes you could make:
“Having a broker, if they are good, will cost the same as going direct because they are usually paid out of the insurance company’s internal commission. Since a broker doesn’t “cost you” anything and offers many additional layers of service and advocacy, a good broker can be the most valuable, free expert consultant you can have on your team, saving you tens of thousands of dollars….A good broker also knows which carriers are a joy to work with and which are constantly getting complimented on their speed responding to customer’s questions and claims.” (from the Report)
“Under ERISA Section 409, both employers (the plan sponsors) and outside providers hired in a fiduciary capacity are potentially exposed to significant liabilities. If a plan is not managed properly and/or benefits are lost because employees were not given adequate information or instruction, fiduciaries can be held “personally liable” to “make good” any losses that they’re responsible for. (http://www.thehartford.com/business-playbook/in-depth/fiduciary-liability-insurance-protects-against-mismanagement) In administering health and other welfare plans, inadequate policy communications or errors in counseling or providing interpretations to employees that result in lost benefits, injury or suffering, or financial burden.
Nonprofit organizations without appropriate plans leave themselves vulnerable to events that could impose staggering costs upon, or entirely shut down, their operations. Bad things happen to good nonprofit organizations every day. Even if there is little reason to blame the nonprofit organization, most competent lawyers will name as a party every individual and organization potentially involved. If a small nonprofit is named in such an unwarranted lawsuit – the legal costs alone could force it into bankruptcy.”
On the benefit of using a “comprehensive” insurance broker:
“When you use a comprehensive insurance broker, you not only have access to more plans and carriers, but you gain negotiating power as well as the ability to bundle different, overlapping coverages needed in various places you may have workers. Mulit-trip plans for those frequent travelers, Kidnap and Ransom as needed, overseas AD&D, and much more all at same number, with the same person. If some of your staff need only Emergency Evacuation, you don’t need to call around trying to find someone to help you with that request.”
We have more on this subject is in the guide.
Here’s another simple way we save you time and money upfront:
Good Neighbor has created one easy, universal form + census that you download and send in to us.
We then go to work on a free actionable analysis on which traditional carriers might be best, and not only send you a quote, but actually send you a detailed, actionable analysis of additional ways you could save. This allows an organization like yours, to easily compare exact benefits and costs from one plan to another. It also gives us specific starting points to discuss ways we can further trim those quotes and customize your plan for maximum effect.
“Yes, this type of analysis takes specific tools and expertise on our end, as well as great working relationships with the carriers’ underwriters. Good Neighbor Insurance excels at providing this service for each of our group clients.”
Featuring real comparisons – and real, honest, advice.
How to evaluate claims. How to compare brokers and carriers and even decide if medical shared plans are for you. Information about BlueCard. Even the latest information on liability and whether your organization is exposed to lawsuits based on what you are, or are not, providing to your employees and 1099 workers. There are keys to knowing if you have a good plan or not and we teach them to you, free.
We guarantee that you will save money by following this advice, or by calling Good Neighbor and letting us advise you on your plan design or by looking for ways to save on your current plan. If you would like a printed copy of this guide, please indicate that on the form and make sure you give us an address to mail it to.
Note: This special report on choosing international group health insurance was uniquely sponsored by four of our insurance carriers that work closely with Good Neighbor. However the content was written independently and was not subject to their oversight or approval. The guide is for employers. If you are an individual looking to save money on your annual premiums, we can help. However, this report has information that is only applicable to groups with two to 2,000 employees overseas and will not suit individual policy holders.
For more on the topic of international group health insurance or the process of applying, see https://www.gninsurance.com/group.