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Group Medical


Among all employee benefit plans, group medical insurance is the most valuable.  It is our top priority in creating an employee benefit plan. Offering a medical benefit plan increases productivity and aids in recruitment and retention of your valuable human capital.

Most benefit plans will include prescription drug, maternity, outpatient and inpatient benefits.  All plans now cover preventive care and many include wellness programs.  With most plans, members will pay for services by copays, deductibles and coinsurance.  Funding of these plans can be fully insured or self-funded (full or partial). We also offer Health Savings Accounts (HSAs) and Health Reimbursement Arrangements (HRAs)

There are several types of medical plan to choose:

PPO (Preferred Provider Organization) – you have flexibility in choosing physicians.  You can see both participating and non-participating providers, but your out-of-pocket expenses will be lower by using participating providers.

HMO (Health Maintenance Organization) – a form of managed care where you receive all your care from participating providers.  In most cases, you must obtain a referral from your primary care physician (PCP) to see a specialist.

POS (Point-of-Service Plan) – a form of managed care plan in which primary care physicians can coordinate patient care but there is more flexibility in choosing doctors and hospitals at the time you want care.&nbsp: You have the choice of using participating and non-participating providers, but your out-of-pocket expenses will be lower by using participating providers.

While there are many factors to consider when evaluating a medical plan, Larry Sherwood & Associates will assist you in choosing the right plan for your needs.

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