Faith A. Bratlie – Insurance Broker

Group Health Insurance

Group health benefits are medical insurance benefits that are offered by an employer or employee organization to the employee and their families. An employer can also offer additional benefits to their employees like, dental, vision, short term and long term disability and life insurance. 

 

Group Health Insurance

Faith Insurance Solutions offers full-scale business insurance services for a variety of industries. I am dedicated to providing my business customers with a customized insurance package from medical health insurance strategies to long-term disability options. I am committed to tailoring your policy to fit your specific needs. We also help in consulting with setting up tax-free plans that can be advantageous for you as the employer and your employees to help aid in financial planning and retirement. We service anyone from small to large employees (2-1000).

With a collective amount of 25+ years in the business we have seasoned agents and to help in guiding your team to the right combination of benefits and services to meet your company’s initial and ongoing needs. Let us help you grow and grow with you!

Our comprehensive packages offer the most comprehensive group benefits while allowing your employees the ability to customize on a personal level to address all areas of your employees’ health and well-being. We go the extra mile to service and support you and your employees to release the burden and stress from your administration and give them a personal touch with their benefits, which also has a positive impact with employee retention.

We offer health, dental, vision, life, short term and long term disability, accident, critical illness, gap plans and retirement options, as well as cobra and state continuation education.

 

What is COBRA

COBRA is a continuation of coverage once a qualified life event like termination of employment or a reduction in hours happens. COBRA specifically only pertains to groups of 20+ and can last up to 18 months, unless you have a spouse that is aging into Medicare before you do.

Faith Insurance Solutions has many partners in the insurance industry including COBRA administrators for our clients. Online COBRA Administration solution provides the practices processes and reliability to help you comply with federal COBRA and states’ “mini-COBRA” regulations. Ask us about a COBRA compliance solution for your organization or how COBRA administration fees may be reduced or waived for your group.

 

What is mini-cobra or state continuation?

That is where a group of less than 20 people are employed by an employer and continuation of care that is offered to them when the employee is terminated or given reduced hours. This allows the employee to keep coverage for 3 months following the date of ineligibility so they are able to obtain coverage elsewhere, and if they have ongoing health services being done they can continue to have those completed.

FAQ

What if I lost my Group Health Insurance after I became eligible for Medicare?

If you are working past your Medicare eligibility age, and your company has more than 20+ employees then your employer coverage is what’s called creditable coverage. You can choose to delay your Part B and Drug plan and use your employer benefits. You will automatically be enrolled in Part A no matter what, but that is usually zero-premium as long as you worked 40 working quarters in your lifetime. That is equivalent to 10 years.

You have 8 months from the time you lose your employer coverage to enroll into Medicare.

What if I have a family when I retire and need to go on Medicare? What happens to them?

There are several options when looking to insure your family after you have retired. To go through what your actual options are please complete a quote request because each situation can differ vastly.

To name a few options you can one got to the ACA or affordable care act, which can also be known as the marketplace or Obamacare. We often find that when a spouse is retiring, this seems to be the most logical choice considering their income is usually decreasing substantially, which allows the family to receive huge savings on their health insurance.

Another option is to look at an association health coverage option. Those differ from person to person or state to state, so more details can be given during a consultation.

You can also look at going with a short-term option to help bridge the gap, or a bridge to medicare plan if the other spouse is only months away from Medicare.

Should I choose COBRA or Individual Coverage?

Depending on the individual’s situation is going to really depend on whether they should explore other options when losing their employer benefits. If your family is in the middle of receiving care and the providers and facilities are not in the marketplace coverage, then it would be a good idea to stay. However, with the increased subsidies it’s probably a good idea for financial reasons to explore the affordable care act aka OBAMACARE.

Services

Group Health Benefits/Health Insurance

What types of group health insurance are there?

You have 2 main types of small and large group benefits. There are ACA or Community rates which can be known as the new affordable care act or Obamacare laws. When Obama created the affordable care act there were many new laws put into place to help with the coverages of preexisting, pregnancy, preventative care, and annual max amounts to name a few. This was put into place with individual and group markets.

Another type of group health benefits is called level-funded or self-insured plans. These plans are more familiar to the olden days and require underwriting before initiating rates for the company. There are several different carriers that offer the level-funded plans including but not limited to, Aetna, United Healthcare, Humana, Anthem, and National General.

Anthem also has what’s called a chamber smart plan. This plan was tailored for small groups that are part of any Georgia Chamber. The chamber smart plan is also a level-funded small group plan, so you do have to qualify for it by your companies overall health to enroll your group.