Buying Health Insurance Through HealthTrust Financial
This page will provide answers for most all of your questions. Should you need additional assistance, please call one of our live customer service representatives at 888-682-7316 during normal business hours.
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What is the difference between employee costs and employer costs?
Is the company required to contribute to the employee's benefits?
The total cost of a health insurance plan is typically shared between the employer and employees.
• Insurance companies typically require employers to pay a certain portion of the Total Plan Cost, i.e. the Minimum Employer Cost.• Employers can choose to pay any amount between the Minimum Employer Cost and the Total Plan Cost.• Any portion of the Total Plan Cost not paid for by the Employer becomes the Employee Cost.When do I have to decide how much to contribute to the employee benefits?Yes. All group health insurance plans require the employer to pay for a portion of each employee's monthly premium. This is one of the defining characteristics of group health insurance. Some plans may also require the employer to pay a portion of the premium for an employee's dependents. However, even when an employer is not required to cover a portion of the premium for an employee's dependents, you may opt to do so. Each insurance company has a minimum amount that the employer must contribute. In most cases, the employer must contribute at least 50% of the employee's monthly premium. Some employers opt to cover a higher amount. By default, our web site will provide you with the minimum contribution level required by the group health insurance plan that you've chosen.
What are my next steps?You will need to choose a contribution percentage now in order to complete the online application, though you may change the contribution percentage at any time until you make your first premium payment on the health insurance plan. However, it helps to choose the contribution level early in the process if you want a realistic and more accurate idea of the employer and employee costs
After providing all the information requested on this page, click the View Quotes button to compare your medical plan quotes. It's that simple!
If you indicated that your company has more than 25 employees who will be enrolling in the plan, you will need to enter the information for some of the employees on an additional page on our web site.
