Group Insurance Plans
The following is a list of the various types group insurance plans that we offer at the Moro Insurance Group along with a description of each plan.
Dental Coverage
The Moro Insurance Group can assist you in putting together a dental plan that is right for you and your group. A good dental plan will help you by eliminating cost while working to maintain healthy teeth. We can help you decide on just the right dental plan for you and your family based on your needs and affordability.
Health Reimbursement Arrangements (HRAs)
HRAs are employer-funded accounts. These types of plans provide more control over and better management of benefit plan costs. With an HRA, the employer funds an account from which the employee is reimbursed for qualified medical expenses such as co-pays, deductibles, vision care, prescriptions, long-term care, chiropractic care, most dental expenses, and medical insurance. Many companies use an HRA in combination with a High Deductible Health Coverage plan. The benefit to the employer is a reduced insurance cost, and the benefit to the employee is that there is a greater cushion with the HRA. Employees are allowed to carry forward any unused HRA funds. If the employee does not utilize the monies for health expenses, it can be utilized for retiree health benefits.
Health Savings Accounts (HSAs)
A Health Savings Account is a combination of a tax-favored savings account and a qualified high deductible health insurance policy. The savings account can be used to pay for routine medical, dental, prescription drugs, eye glasses or other IRS qualified medical expenses without paying taxes on the money. Major medical expenses are paid by the insurance policy. The HSA can be invested as you would any other investment account. The contributions remain in your account from year to year until you use them.
Life Insurance
Most people buy life insurance to replace income that would be lost should a wage earner pass away. There are many types of life insurance policies available. Permanent life insurance will protect your family for a lifetime and allows you to build cash value over time. Term life insurance costs less than permanent insurance. It covers you for a period of time that you select and pays benefits should you die during that period of time. Term insurance does not accumulate cash value. Under a group plan, life insurance cost is lower than for individual life policies because administrative expenses per life are decreased, there are certain tax advantages, and measures are taken against adverse selection.
Long Term Care
This type of insurance goes beyond health insurance which covers doctor and hospital bills. Long term care helps by protecting you against significant financial risk should you need long-term care services either in a nursing home, assisted-living facility or in your own home. Though older people use long-term care services most often, younger people may need long-term care services should they suffer a debilitating illness or have been in an accident. Some of the services that this insurance covers are visiting nurses, home-delivered meals, adult daycare centers, respite services for care givers, and home health aides.
Health Insurance
This insurance protects you and the members of your group against sickness or bodily injury. This usually includes coverage for medical expenses such as doctor visits and hospital stays and can cover normal and preventive care such as check-ups, prenatal care, and well-baby care. For more information on various Group Health insurance products, click here.
Short-Term and Long-Term Disability
What would you do if you couldn't work and earn a living? Could you continue to pay your bills for any length of time if you were unable to work due to illness or injury? Your most valuable asset is your health and your ability to make a living. Protection against that risk lies in disability income insurance which is a product that provides you income should you or those within your group become sick or injured and unable to work. This product helps to protect you and your family against financial catastrophes and provides an income to help to meet your daily expenses on either a short-term or long-term basis.
Vision Insurance
Vision care plans usually cover an annual exam by a network optometrist and often allows a discount for glasses or contact lenses. Vision care is often offered as an additional feature in managed care plans or can be purchased as a separate plan. Vision care that is related to a medical problem is usually covered by most comprehensive medical plans.
Should you wish to obtain information on any of these products, please click here for contact information.
