At Elliott, Powell, Baden, and Baker Insurance, every Oregon business deserves a benefits plan as unique as the people who make it successful. When it comes to offering health insurance to your team, there are a variety of group coverage options to fit your company’s size, industry, and budget.
Here’s a closer look at the most common types of group health plans available for businesses in Oregon:
1. Traditional PPO Fully-Insured Group Health Insurance
The most familiar and widely available option, these plans provide comprehensive medical coverage, including doctor visits, hospital care, preventive services, and prescription medications. Costs are shared between Oregon employers and their employees. PPOs offer greater flexibility, allowing employees to see both in-network and out-of-network providers without referrals., Employees across Oregon appreciate the broader range of healthcare choices.
2. Health Maintenance Organization (HMO) and Community Care Plans
HMOs are known for their lower premiums and out-of-pocket costs. They require employees to use a specific network of healthcare providers and obtain referrals to see specialists. These plans are a popular, cost-effective choice for many Oregon businesses.
3. High-Deductible Health Plans (HDHPs) with Health Savings Accounts (HSAs)
HDHPs offer lower premiums and higher deductibles, which help control upfront costs. When paired with an HSA, Oregon employees can save tax-free for medical expenses, providing both flexibility and financial benefits.
4. Level-Funded and Self-Funded Plans
Rather than paying premiums to an insurance company, some Oregon employers opt to cover healthcare claims directly. Self-funded plans offer flexibility and potential savings, but are generally better suited for larger organizations with predictable healthcare needs. Level-funded plans are a middle ground between fully insured and self-funded plans, and can be a successful model for some employers.
At EPB&B Insurance, we can provide quotes for Flexible Spending Account, Health Savings Account, and Health Reimbursement Account Administration as part of an employer’s Total Rewards package.
Choosing the correct type of health plan is just the beginning. Here’s why offering a group health plan is a strategic and meaningful investment for your business in Oregon:
1. Attract and Retain Top Talent in Oregon
Health benefits are a significant factor in candidates’ evaluations of job offers. Offering a competitive group health plan helps Oregon employers stand out and retain top talent in an increasingly competitive job market.
2. Boost Employee Productivity and Morale
When Oregon employees have access to affordable healthcare, they are more likely to stay healthy, engaged, and productive at work. Investing in health benefits leads to fewer sick days, higher morale, and a more positive workplace culture.
3. Save Money Through Tax Benefits
Employer contributions toward group health premiums are tax-deductible at both the federal and state levels in Oregon. Small businesses in Oregon may also be eligible for additional tax credits, which can provide even greater financial benefits.
4. Strengthen Your Company’s Reputation in Oregon Communities
Oregon businesses that prioritize employee well-being earn respect from customers, partners, and the community. Offering health benefits strengthens your reputation as a responsible, people-first employer across Portland and beyond.
5. Simplify Healthcare Access for Oregon Teams
Group plans typically offer broader coverage and lower premiums compared to individual options available in Oregon’s healthcare marketplace. Providing reliable and affordable access to healthcare enables your employees to focus on delivering their best work.
At Elliott, Powell, Baden, and Baker Insurance, we’ve been helping Oregon businesses design tailored group health insurance solutions for decades. Whether you’re a growing small business in Portland or an established employer anywhere in Oregon, we’ll help you build a plan that fits your people, your goals, and your budget.Contact us today to explore your group health coverage options and start building a healthier, stronger future for your Oregon business and your employees.