All of the variables that are associated with employee benefits and health insurance are enough to make an employer and her human resource department stretch themselves thin attempting to provide coverage to a large staff. There are many considerations that must be made in this process, including the cost of the entire plan, the amount that the company will choose to contribute and the benefits that accompany the coverage.
Another monkey wrench that is frequently thrown into the entire affair is that, in addition to private insurance carriers, there is a large and powerful provider that frequently provides benefits to workers. The federal government has many programs, particularly for older Americans, that can intersect with or overlap of existing private coverage.
Understanding how Social Security, Medicaid and Medicare will interact with other employee benefits is a difficult task that is often beyond the purview of human resources departments. Thankfully, employee benefit consultants can help businesses to sift through all of the minutiae and government regulations that affect how a company should proceed with its benefits coverage. Without an employee benefit broker under contract, organizations may overpay for coverage that isn't necessary.
