Need For Captive Fronting in Beckley and Charleston, WV

 Every employer in the US provides employee benefits to its trusted workforce. Statistics reveal that almost 55% of US citizens obtain employer-sponsored health benefits during the tenure of their employment. Not all individuals know this need or even consider asking their employers about group health insurance in Martinsburg, WV, and West Virginia.

It suffices to know that a group health insurance plan is a type of health insurance policy provided to a group of people, specifically the employees or members of an organization. Employers are keen to provide group insurance as part of the employee benefits package.

The employer pays a premium to the health insurance company for group health insurance. While some employers bear the cost of the total premium, others may have their employees pitch in, too. There are diverse types of health insurance group plans available to employers at present. Most of them pick and choose the plan according to their budget and convenience.

While a participant doesn't need to know the process, both the employer and employees should know the related facts. This enables the employer to ask the right questions and also make an informed decision when it is time to invest in a group health insurance policy.

There are multiple reasons to provide such insurance coverage to employees regardless of the nature and size of the business entity. Employers are usually happy to pay for group insurance plans for the following reasons:

· Cost-Efficiency- This insurance premium is much less than individual health policies. With the risks being spread over many people, the insurance companies are happy to provide insurance at more affordable rates. This benefits the employees who agree to pay a part of the premiums. The employer is satisfied with providing for all employees at one go.

· Recruitment & Retention of Talent- Companies are finding it hard to recruit and retain talented workers today. The recruitment costs are sure to come down when the right employees are willing to work for lesser pay as long as they are covered by health insurance. The exact reasons work beautifully in retaining valuable employees likely to remain loyal to the company.

· Guarantee of Health—Employees covered by group health insurance will take care of themselves by visiting doctors for preventive care and treatment. Healthy employees do not resort to absenteeism and ensure high productivity for their employer. Being covered by health insurance provided by the employer is sure to be a win-win for all concerned.

· Tax Benefits- Employers are happy to pay the premium for group health insurance for their employees for many reasons. The possibility of receiving a host of tax benefits is advantageous for the business owner, who may write off the insurance costs as business expenses.

The captive insurers prefer to use captive fronting in Beckley and Charleston, WV to comply with the financial regulations of various states.