Switching Group Health Insurance

Are Businesses Locked in the Whole Year?

Switching Group Health Insurance

Your health insurance plan can be a huge part of the benefits package offered to employees. Most businesses, small or not, will have a difficult time attracting and retaining employees without it. In addition, your plans should meet the needs of the employees at the most competitive price the business can offer. If not, it can often feel like you are stuck with this health plan that really just isn’t working. Fortunately, switching group health insurance plans does not have to be a difficult task. Businesses can actually sign up for different coverage at any time.

Switch When You Want

Most people are familiar with the terms of open enrollment or annual enrollment. These terms usually describe a time period when you can sign up or change your health plan. Although these periods exist for individuals and Medicare, businesses can switch to a different carrier at any time. This means that if you want to drop your current coverage and sign up with a different company, you can certainly do so. There is no open enrollment for businesses to sign up with a different carrier and they can do so at any time. The term open enrollment really only applies to the employees within the business to make changes to their current coverage. Although most businesses will not be able to change plans or enroll any employee in coverage during their contract, there are no restrictions on switching group health insurance to a different carrier.

You Do Not Need to Do It Alone

Working with a health insurance broker can make switching your coverage simple and quick. You can start the process to see small business insurance prices by following the link. As a broker, our office can show you every alternate option that may compare to your current coverage. We can also suggest options that would best for your business such as carriers with national networks or plans that cover certain hospitals. In addition, we will walk you through the entire process and handle all communication with the new carrier. We do not charge our clients any fees or added charges for our services no matter how often you want to switch.