As an employer, you probably receive cold calls and walk-in visits from insurance salespeople on a regular basis. When they show up at inopportune times, you likely shoo them away so as to focus on the task at hand. Do you ever find yourself wanting to know a little bit more about insurance later? Most of us do, so today we are going to cover some of the types of insurance that an employer can offer their employees in Arizona and delve into the finer points of some of the health-related coverage options.
Types of Insurance
There are many types of insurance that you can offer.
- Employer-sponsored disability insurance: Covering staff for the potential that they become disabled via an accident, disease or other occurrence is one option for employers here in Arizona. While employees can take out disability policies on their own, this option is offered by you, the employer, and generally costs the employee less than more independent options. You will foot some of the bill yourself, but making this a part of your overall insurance benefits package means that employees who become disabled will be paid a portion of their salary to help them get by. Employees have less wiggle room when it comes to suing the insurance carrier as compared to independent forms of disability insurance, but the difference can arguably be made up in financial savings.
- Workers’ compensation: This type of coverage kicks in when an employee is injured on the job or as a result of something they encountered at the workplace. You are required to carry workers’ compensation insurance as an employer. For a full report on this type of insurance, refer to our blog specifically on the topic.
- Health insurance: This type of insurance can come in many forms. In fact, disability insurance is considered to be one form of health insurance, as many policies will cover medical care related to the disability in question. There are different kinds of policies, from Preferred Provider Organizations (PPO) to Health Care Services Organization (HCSO). Going over the different types requires several blog entries. For now we will reinforce that employer-provided health insurance generally costs both the employer and the employee on a monthly basis and covers medical expenses to varying extents, depending upon insurance provider and policy type. Some of the things that you might not think to be coverage requirements include the following:
- If your policies include diabetes care, then they must include coverage for necessary equipment, from syringes to the insulin itself.
- All policies must cover mammograms for female employees of required age.
- If you policy provides maternity benefits, these benefits must be offered to the natural mother of an employee’s adopted child for one year after the birth of the adopted child.
- All policies must cover screenings in an emergency room, as well as ambulance transports to the emergency room.
- All policies that cover prescription medications must also cover FDA-approved contraceptive drugs and/or devices.
Combing through health-related insurance policies is best done with a qualified and valid insurance salesperson. The state of Arizona does warn that individual consumers as well as employers looking to purchase group policies should be aware of insurance scams and fake insurers. For more information on avoiding dishonest insurers, visit the Arizona Department of Insurance for some sound advice. If you do not have time to devote to insurance but are in need of staff at a moment’s notice, then finding out more about the services offered by Labor Systems Job Center can get you the staff you are looking for without any hassle.