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Illinois Group Health Insurance

There are quite a few great options for IL residents looking for Illinois group health insurance. Let’s take a look at two very quick planning ideas that Illinois business owners and employees can use to find comprehensive and affordable group health care coverage.

Cheap Illinois Group Health Insurance

1. Consider a Health Savings Account (HSA). Health savings accounts allow for lower monthly premium expenses due to the higher plan deductible and offer some great tax advantages to boot. Both employers and employees can make contributions to an employee’s HSA.

2. Consider setting up an HRA (Health Reimbursement Arrangement). HRA’s (sometimes called medical reimbursement plans) are great ways for Illinois business owners to take advantage of the lower monthly premiums for Illinois individual health insurance versus Illinois group health insurance while still offering employee health benefits (and getting the corresponding tax deduction).

The Cost Of Illinois Group Health Insurance

Everything else being equal; IL individual health insurance rates will be approximately 1/3 to 1/2 the cost of comparable IL group health insurance rates. However, the advantage to choosing a group health insurance plan in IL is that one cannot be declined for health issues with a group plan.

There are many great companies that offer both group health and individual health in the state of Illinois including Blue Cross and Blue Shield, UniCare, United Healthcare, and more.

Take a few moments too see how much you can save by using our comparison tool at the top of the page to compare free Illinois health insurance quotes now!

Illinois Group Health Insurance Options

The Illinois group health insurance market is full of many different options. From health savings accounts (HSA’s) to copay plans to plans with added features like dental insurance, term life insurance, and disability insurance there are now more than ever health care options in abundance for all types of Illinois small businesses. Sole proprietorships, partnerships, corporations and LLC’s all have a plethora of IL health plans available to suit their specific health care needs.

With so many different Illinois group health insurance options available how does one even know where to start?

Choose an Illinois group health insurance company that you can depend on. Although this guideline seems commonsense, and it is, keep this in mind the next time you view IL quotes from an insurance company that you have never heard of before. It is not to say that every company that you have never heard of before is not a good company but you should definitely do your research. Be sure and compare quotes from top Illinois health insurance companies like United Healthcare, Aetna, Blue Cross Blue Shield, Humana, and UniCare.

Choose an Illinois group health insurance plan that best fits your employees/partners need. Again, commonsense but there are many new types of plan designs (such as HSA’s) that were not on the horizon even 5 or 10 years ago. Many have grown accustomed to the traditional copay type health plan with copays for doctor’s visits and prescriptions but if a little digging is done then it may turn out that an HSA type plan may afford the greatest cost savings for both the employer and the employee.

Choose an Illinois group health insurance agent/broker that is familiar with many different Illinois health care options. Be wary of an IL agent that can only work with one insurance company as they will struggle to serve your best interests. You will want to compare group health quotes from a minimum of 2-3 companies. You could do this all on your own but it will save you some time and aggravation to work with an independent Illinois group health insurance agent that can shop your case with multiple insurance companies and help explain the various plans to you.

Advantages Of An Illinois Group Health Insurance Plan

Illinois group health insurance offers many advantages that are not available to those who happen to get health insurance through other means. Group health insurance for IL residents also provides benefits to the employers who offer it to their employees. For employees in many areas, including Illinois, group health insurance can be just irresistible because of how easy it is. Does that mean it’s right for you? Keep reading to find out.

Illinois group health insurance is how most Illinois residents secure the necessary health insurance for their family. It offers many advantages that are unparalleled anywhere like:

  1. Ease and simplicity: Getting group insurance through your employer or other group is very easy because all the work has been done for you. Someone else has educated themselves on the aspects of health insurance and weighed the pros and cons of each to determine what would be the best for the group members. You simply need to sign up, no other work required.
  2. Ease of payments: With group insurance, typically the payments are deducted from your payroll. Therefore, it is not another bill to deal with, that may be inadvertently forgotten and the coverage consequently canceled. If your group coverage is not through an employer, the insurer may still want to establish an automatic payment plan through electronic funds transfer.
  3. Automatic acceptance regardless of health: With group insurance, all members of the group are automatically accepted into the plan. There is no underwriting to undergo and you will not be rejected for pre-existing conditions. For many people, this may be the least expensive way to get insurance because in the regular market, they would not be eligible for individual health insurance.
  4. Employer Subsidization: Many employers pay a portion, and sometimes all, of health insurance premiums for their employees. It makes health insurance even more affordable for employees lucky enough to have this kind of subsidization.

Employer Advantages Of Offering Illinois Group Health Insurance

Employers offer Illinois group health insurance for a variety of reasons. While having health insurance coverage is probably the best benefit an employee can get as a part of their compensation program, there are many benefits for the employer too.

  1. Creates more employee loyalty – Employees show more loyalty to a company that cares about them enough to offer health insurance, which is something they need and want.
  2. Reduces turnover – Employees are less likely to quit their job and go elsewhere for frivolous reasons if their health insurance is tied to their job.
  3. Eases finding qualified, desirable employees – You are more likely to find ideal applicants who will want to work for your company if you offer good benefits, starting with health insurance.
  4. It provides the employer and his or her family with health insurance also.
  5. Tax benefits – employers can deduct 100% of the health insurance premiums that they pay for their employees.

Health insurance is such a hot topic now that many employers feel they must offer it in order to keep good employees.

Finding Illinois Group Health Insurance Outside Of Work

Illinois group health insurance is offered primarily through employers, however there are other places to find it.

  1. Professional Associations: If you belong to an organization that is specific to your trade or profession, there may be group insurance offered through the association. This is especially true in associations where members are typically self-employed.
  2. Business groups: Many groups like the Chamber of Commerce recognize the fact that many of their members are very small businesses or even self-proprietorships, which lack health insurance coverage. Therefore, they put in place group health insurance for their members as an available benefit, and often as a selling point of membership.
  3. Church, Civic groups and more: Group health insurance may be offered through many other groups you belong to also. If you presently do not have access to such coverage through any of the groups you belong to, you may want to consider instituting group health insurance yourself. There may be many others in your situation that would appreciate and use the option.

Illinois Group Health Insurance Quotes

By offering group health insurance through your company or organization you will be helping others and yourself at the same time. Be sure to adequately review the different options available, the differences between plans and the overall impact of co-payments, deductibles, maximums and more.

You can get your Illinois group health insurance quotes quickly and easily, by using the free quote tool at the top of this page. You just simply need to click in the box, enter your zip code and answer a few questions.

In no time you will have a variety of quotes to compare and contrast to help you make the best choice possible. Get started finding Illinois health insurance now!

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