Group Benefits Insurance

Client Centered

Saving money on employee benefits while still attracting and retaining the best and the brightest is a must in today’s economy. The cost of providing benefits is rising significantly, while employees consistently seek more and more from their benefits packages. Many employers struggle to balance employee needs with their own capabilities and bottom lines.

Helping you meet your objectives is Brown Insurance Group’s specialty. Using our advanced technology and consulting expertise, we provide a variety of value-added professional services to our clients that reduce customer costs, increase efficiency, and improve employee satisfaction.

To rise above the competition, employers must efficiently manage employee healthcare. Fortunately, the team of experts at Brown Insurance Group, specialize in creating employee benefit packages to suit every employer need from fully insured to self-funded plans and other creative options to maintain quality staff.

Fully Insured Plans

Fully Insured Plans are ones in which the employer pays a monthly premium to an insurance carrier to assume all of the risk associated with the group insurance claims of their employees.

Our expertise includes many types of group insurance plans including:

  • HMOs
  • PPOs
  • High Deductible Plans
  • Consumer-Driven Health Plans
  • Healthcare Reimbursement Account (HRA) Plans
  • Indemnity Plans

Self-funded plans

Under a self-funded healthcare plan, the employer agrees to set aside funds to pay for anticipated health claims for their employees, rather than paying premiums to an insurance carrier. In this situation, the employer acts as the insurer and carries the risk. The theory, which usually holds true, is that their pool of employees will prove to have on average the same or less number of claims as the population at-large. This, in turn, should lead to a lower cost of coverage.

Employers find self funded plans very attractive because of the extremely small premiums. However, in a bad year it's possible to pay out amounts far in excess of anticipated funds. Statistically, the larger group, the better the anticipated costs, and therefore the more stable a self-funded plan will operate. Employers electing this option will use a TPA (third party administrator) to process all claims and paperwork.

Brown Insurance Group can help you analyze whether a Self-Funded Insurance Plan is right for your company.