5 Steps to Buying Group Health Insurance with Success

All Fields Required

Finding quality, affordable health insurance for your business should not be a stressful task. From companies with 10 or less employees to those with 100 or more, there are multiple group health plansto consider.

While you may not be required to offer group health insurance benefits to your employees, this shows that you truly care about them as people. Along with this comes happier workers who are more likely to stay with the company for an extended period of time.

Before we discuss in greater depth the steps to buying group health insurance, let's take a closer look at some of the additional types of coverage that are available:

  • Dental
  • Life
  • Short term disability
  • Long term disability
  • Vision



Follow these steps when it comes time to buy group health insurance for the first time or make a change to a new provider.

  1. Learn more about the industry and current state of the market. Before you ever contact a health insurance company direct or hire a broker, you should personally learn more about the industry. This includes everything from insurance carrier ratings to average premiums and much more.
  2. Go online to receive quotes. In the past, obtaining quotes was a time consuming process as you had to contact companies and brokers directly via telephone. In today's day and age, you can receive information online without delay.
  3. Consult with your employees. Is this something you have to do? Absolutely not. Is it something that makes sense? Of course. While you don't have to speak with every employee personally, you may want to send out a survey or questionnaire as a means of gathering targeted information.
  4. Compare all your options. At the very least, you should compare a quote from three different health insurance providers. This will give you a clear understanding of the industry, while allowing you to better understand which plan is right for your company.
  5. Make a purchase and don't look back. It doesn't matter if you are the company owner or an HR professional, this is a big decision. At some point, after you have completed all your research, you need to choose a policy and move forward with the purchase.

When you follow these five steps, you will find that buying group health insurance can be a fast and efficient process. In the end, there is only one thing that matters: you need to purchase the plan that is best for your company.