Large and enterprise employers

PPO

(preferred provider organization) plans

These plans have contracts with a network of participating medical providers, such as hospitals and doctors. Under the plan, you and your employees will pay less for services if participants use providers that belong to the plan's network.

HMO

(health maintenance organization) plans

An HMO usually limits coverage to care from doctors who work for or contract with the HMO. What makes it different from a PPO is that it generally won't cover out-of-network care except in an emergency. An HMO may also require participants to live or work in its service area to be eligible for coverage.

HSA

(health savings account) qualified plans

This is a type of savings account that lets participants set aside untaxed money to pay for qualified medical expenses. HSA-eligible plans may have lower monthly premiums, but deductibles can be higher.

HRA

(Health Reimbursement Arrangement)

These plans reimburse employees for approved medical and dental expenses. The employer determines a reimbursement amount up to a yearly limit.

Market review

To ensure your employee health and wellness plan is providing the best value possible, your Highstreet agent can review your plan in depth and help you determine when it’s time to “go to market” to validate that your insurance policies are the right fit.

Self-funded plans

A self-funded (also known as self-insured) plan means that you, as the employer, assume the financial risk for providing employee health benefits. In this arrangement, the employer pays for claims out-of-pocket rather than an insurance company. To pay for this, it may be necessary to set up a special trust fund financed by corporate and employee contributions. Your Highstreet agent can assist you in evaluating whether a self-funded plan might be good for your business.

Group-purchasing plans

A group-purchasing plan, or GPO, is an arrangement by a group of businesses to lower the cost of insurance coverage (or other products or services) through economies of scale. Your Highstreet agent can help you look at group-purchasing opportunities and provide information and guidance for you to decide if this option is best for you.

Benefits administration

Benefits administration is a service that helps your company develop an employee benefits package that supports the needs of your workforce and meets your business goals and budget, including simplifying enrolment and minimizing risk.

Carve-outs

A carve-out is the common practice of purchasing a portion of your employee benefits, such as prescription drugs from a different insurance company than the one that provides other coverage. Your Highstreet agent can help you evaluate whether a specific carve-out is in your best interests, including how it may affect stop-loss coverage, which protects you if losses go over a specified amount during the year.

Employee Benefits Compliance

Help complying with labor and other laws for employee benefits and other programs to ensure they follow local, state and federal laws.

Employee communications

Your Highstreet agent can help you with internal communications and onboarding for your benefits plans, including providing resources and specialists who can explain the plans, including voluntary benefits, and answer any questions they may have.

Professional Employer Organization (PEO)

PEOs provide integrated, outsourced human resource services. Is it time to look into a PEO for your business or organization? Highstreet can help you find out and if needed place your HR with a trusted PEO. If you already have a PEO, your Highstreet agent can also help you evaluate if your current arrangement puts you in the best possible position.